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HANLEY v. FIRST INVESTORS CORP.

Civ. A. No. 1:90cv848.

793 F.Supp. 719 (1992)

James H. HANLEY, et al., Plaintiffs, v. FIRST INVESTORS CORPORATION and John Marceaux, Defendants.

United States District Court, E.D. Texas, Beaumont Division.

March 30, 1992.

Attorney(s) appearing for the Case

Jeff Robert Branick, Scot E. Sheldon, Provost, Sheldon, Steel, Hughes, Port Arthur, Tex., J. Hoke Peacock II, Keith Kebodeaux, Orgain, Bell & Tucker, Beaumont, Tex., for plaintiffs.

Tom Hanna, Mehaffy & Weber, Beaumont, Tex., Stephen W. Grafman, Kirkpatrick & Lockhart, Washington, D.C., Paul D. Smith, Grace Surguy, Axelrod, Smith, Komiss & Kirshbaum, Houston, Tex., for defendants.

MEMORANDUM OPINION

COBB, District Judge.

Defendant's motion for summary judgment is before the court. Defendants present two grounds for their motion. First, defendants assert that the applicable statutes of limitation bar plaintiffs claims. Second, defendants claim that the plaintiff does not present claims for cognizable damages.

FACTS

This lawsuit is an action by nineteen persons who purchased shares in various mutual funds against First...

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