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EMPLOYERS INS. OF WAUSAU v. MUSICK, PEELER & GARRETT

No. 90-55791.

954 F.2d 575 (1992)

EMPLOYERS INSURANCE OF WAUSAU, Federal Insurance Company, Plaintiffs-Appellants, v. MUSICK, PEELER & GARRETT, a Partnership; Leonard Castro, an Individual, Robert Schuchard, an Individual, K.M.G. Main Hurdman, a Partnership, Peat, Marwick, Main & Co., a Partnership, J.H. Cohn & Co., a Partnership, Ed Bacani, an Individual, Robert Torkar, an Individual, Does 1 thru 100, and Does 1 thru 300, Inclusive, Defendants-Appellees.

United States Court of Appeals, Ninth Circuit.

Decided January 23, 1992.

Attorney(s) appearing for the Case

Lawrence H. Nagler, Nagler & Schneider, Beverly Hills, Cal., for plaintiffs-appellants.

William J. Reifman, Mayer, Brown & Platt, Los Angeles, Cal., Charles A. Bird, Luce, Forward, Hamilton & Scripps, San Diego, Cal., for defendants-appellees.

Before GOODWIN, PREGERSON and ALARCON, Circuit Judges.

GOODWIN, Circuit Judge:

The securities fraud contribution question left open in Franklin v. Kaypro Corp., 884 F.2d 1222 (9th Cir.1989), cert. denied sub nom., Franklin v. Peat Marwick Main & Co., ___ U.S. ___, 111 S.Ct. 232, 112 L.Ed.2d 192 (1990) is presented in this appeal by insurance carriers who are subrogated to the contribution rights of settling defendants (their insureds).

The plaintiffs seek recovery...

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