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HASTIE v. AMERICAN AGRI-CORP.

Nos. SACV 89-433-GLT, 90-164-GLT, 90-243-GLT and 91-236-GLT.

774 F.Supp. 1251 (1991)

J. Drayton HASTIE, individually and for all persons similarly situated, Plaintiff, v. AMERICAN AGRI-CORP., now known as Amcor Capital, Inc., a California corporation, et al., Defendants. and Related Cases.

United States District Court, C.D. California.

As Modified October 31, 1991.

Attorney(s) appearing for the Case

John V. Hager, Kinkle, Rodiger & Spriggs, Los Angeles, Cal., Stewart M. Hanson, Jr., Richard J. Lawrence, J. Michael Hansen, Jeffrey W. Shields, Gary R. Henrie, of and for Suitter Axland Armstrong & Hanson, Salt Lake City, Utah, for defendants American Agri-Corp., Frederick H. Behrens, George L. Schreiber and Robert A. Wright.

Herbert Beigel, Leigh R. Lasky, Beigel & Sandler, Chicago, Ill., Harold E. Kohn, Joseph C. Kohn, Kohn, Savett, Klein & Graf, P.C., Philadelphia, Pa., Elwood S. Kendrick, Elwood S. Kendrick, Inc., Los Angeles, Cal., Edward Gartenberg, Burris, Drulias & Gartenberg, Los Angeles, Cal., for plaintiff J. Drayton Hastie.

MEMORANDUM OPINION

TAYLOR, District Judge.

In the absence of published Ninth Circuit authority, the issue presented in this case is whether to apply retroactively the Supreme Court's recent Lampf decision concerning the applicable statute of limitations for Securities Exchange Act of 1934 section 10(b) securities fraud cases. This court concludes that the Lampf rule is retroactive.

I. BACKGROUND

During the years 1982 to 1986...

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