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MERCER v. JAFFE, SNIDER, RAITT AND HEUER, P.C.

Nos. G88-380 CA1, G88-582 CA1.

713 F.Supp. 1019 (1989)

Harold MERCER, et al., Plaintiffs, v. JAFFE, SNIDER, RAITT AND HEUER, P.C., et al., Defendants. Mohamed ABDORABEHE, et al., Plaintiffs, v. JAFFE, SNIDER, RAITT AND HEUER, P.C., et al., Defendants.

United States District Court, W.D. Michigan, S.D.

May 3, 1989.

Attorney(s) appearing for the Case

Tolley, Fisher & Verwys, P.C. by Thomas F. Koernke, Todd R. Dickinson and James B. Doezema, Grand Rapids, Mich., for plaintiffs.

Morton H. Collins, Collins Einhorn & Farrell, Southfield, Mich., for Jaffe, Snider, Raitt and Heuer, P.C., Peter Sugar and David Warner.

Frank J. Kelley, Atty. Gen. by Ronald W. Emery, Asst. Atty. Gen., Tort Defense Div., Lansing, Mich., for Frederick Hoffecker.

Frank J. Kelley, Atty. Gen. by John D. Walter, Asst. Atty. Gen., Executive Div., Lansing, Mich., for James Karpen.

OPINION

HILLMAN, Chief Judge.

These actions are brought by approximately five hundred investors who lost money in the so-called Diamond Mortgage Corporation/A.J. Obie and Associates securities fraud. Plaintiffs sue two distinct sets of defendants. At all times relevant to these suits, defendants Peter Sugar and David Warner were attorneys at a Detroit law firm, defendant Jaffe, Snider, Raitt & Heuer, P.C. (the Jaffe defendants). Defendants James Karpen...

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