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FRIEDMAN v. ARIZONA WORLD NURSERIES LTD.

Nos. 86 Civ. 9834(KC), 88 Civ. 2212(KC), 88 Civ. 6306(KC), 88 Civ. 8795(KC) and 89 Civ. 5194(KC).

730 F.Supp. 521 (1990)

Sheldon FRIEDMAN, et al., Plaintiffs, v. ARIZONA WORLD NURSERIES LIMITED PARTNERSHIP, et al., Defendants. Roger L. FROST, et al., Plaintiffs, v. ARIZONA WORLD NURSERIES LIMITED PARTNERSHIP, et al., Defendants. F.N. LaCORTE, et al., Plaintiffs, v. ARIZONA WORLD NURSERIES LIMITED PARTNERSHIP, et al., Defendants. K.G. MILLS, et al., Plaintiffs, v. ARIZONA WORLD NURSERIES LIMITED PARTNERSHIP, et al., Defendants. John Casey CLARK, Plaintiffs, v. ARIZONA WORLD NURSERIES LIMITED PARTNERSHIP, et al., Defendants.

United States District Court, S.D. New York.

January 24, 1990.

Attorney(s) appearing for the Case

Beigel & Sandler, Ltd., Lewis S. Sandler and Marilyn Neiman, New York City, for plaintiffs.

Morrison Cohen Singer & Weinstein, Malcolm I. Lewin and Donald Chase, New York City, for Western defendants.

Gold & Wachtel, Elliot Silverman and Anthony Pennachio, New York City, for World defendants.

Jones Day Reavis & Pogue, Barry R. Satine and Carl F. Goodman, New York City, for Partnership defendants.

Rosenman & Colin, Arthur S. Linker and Terri L. Weiss and Fulbright Jaworski & Reavis McGrath, Marc S. Dreier and Glen Banks, New York City, for Friedman & Shaftan defendants.

Stein, Zauderer, Ellenhorn, Frischer & Sharp, Sidney H. Stein, Robin Kaufman and Eric M. Schmidt, New York City, for Andersen defendants.

Chekow & Kisner, Ronald Kisner, Great Neck City, for defendant Bryce Corp.

OPINION AND ORDER

CONBOY, District Judge:

I. BACKGROUND

Plaintiffs, seventy in all, have brought this action against the twenty-nine named defendants, claiming that their investment in defendant Arizona World Nurseries Limited Partnership ("AWNLP") was induced by the assertedly misleading Private Placement Memorandum (the "Memorandum" or "Offering Memorandum"), appended to which were the allegedly misleading Tax Opinion Letter and Financial Projections...

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