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CHUTICH v. GREEN TREE ACCEPTANCE, INC.

No. 3-88 Civil 869.

759 F.Supp. 1403 (1991)

Joseph D. CHUTICH, Rochester Sand & Gravel, Inc. Pension Plan, Melvin R. Harris, James A. Sivinski, and Leonard Krivy, Plaintiffs, v. GREEN TREE ACCEPTANCE, INC., a Minnesota corporation; Lawrence M. Coss; John W. Brink; Robley D. Evans; Robert S. Nickoloff; Harold W. Greenwood, Jr.; and Richard G. Swanson, Defendants. Harold W. GREENWOOD, Jr., Cross-Claimant and Third Party Plaintiff, v. GREEN TREE ACCEPTANCE, INC., a Minnesota corporation; Lawrence M. Coss; and Richard G. Swanson, Defendants on Cross-Claim, and Touche Ross & Co., Third Party Defendant.

United States District Court, D. Minnesota, Third Division.

April 3, 1991.

Attorney(s) appearing for the Case

W. Joseph Bruckner, Opperman, Heins & Paquin, Minneapolis, Minn., for plaintiff.

Terrence J. Fleming, Lindquist & Vennum, Minneapolis, Minn., for third-party plaintiff Harold Greenwood.

Wendy J. Wilding, Faegre & Benson, Minneapolis, Minn., for cross-claim defendants Swanson and Coss.

Robert W. Woods, Briggs & Morgan, Minneapolis, Minn., for cross-claim defendant Green Tree Acceptance.

Lawrence M. Shapiro, Maslon, Edelman, Borman & Brand, Minneapolis, Minn., for third-party defendant Touche Ross & Co.

MEMORANDUM

RENNER, District Judge.

Plaintiffs in this class action suit are persons who purchased stock in defendant Green Tree Acceptance, Inc. ("Greentree") during the period from May 20, 1985 through March 28, 1989. They assert that Green Tree and six of its present and/or former officers and/or directors made material misrepresentations and omissions in public statements and filings, resulting in an artificially inflated market price for Green Tree common...

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