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MONROE v. HUGHES

Civ. No. 90-152-MA.

860 F.Supp. 733 (1991)

James G. MONROE and Penelope E. Monroe, individually and on behalf of similarly situated persons, Plaintiffs, v. Gary C. HUGHES, Thomas R. Hudson, and Deloitte & Touche fka Deloitte, Haskins & Sells, Defendants. DELOITTE & TOUCHE, Cross-Claimant, v. Gary C. HUGHES, and Hughes Homes, a Washington corporation; Cross-Defendants.

United States District Court, D. Oregon.

December 9, 1991.

Attorney(s) appearing for the Case

Henry Kantor, Keith E. Tichenor, Pozzi, Wilson, Atchison, O'Leary & Conboy, Portland, OR, for plaintiffs.

Milo Petranovich, Lane Powell Spears Lubersky, Portland, OR, Philip Rotner, Karen Kennard, McCutchen, Doyle, Brown & Enersen, San Francisco, CA, for defendant Deloitte & Touche.

Jay Zulauf, J. David Stahl, Mundt MacGregor Happel Falconer Zulauf & Hall, Seattle, WA, for defendant Thomas R. Hudson.

OPINION

MARSH, District Judge.

Plaintiffs filed this action seeking damages for alleged violations of federal and state securities laws against two principals of the now defunct Hughes Homes, Inc. and Deloitte & Touche, an independent auditor, arising out of their purchase of debentures in 1989. Defendant Deloitte & Touche (hereinafter "defendant") now moves for summary judgment against all claims. For the reasons that follow, defendant's motion...

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