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PAHMER v. GREENBERG

No. CV 89-4279 (RJD).

926 F.Supp. 287 (1996)

Hal PAHMER, et al., Plaintiffs, v. Bruce GREENBERG, David Greenberg, Norman Nick, Stephen Cantor, Marvin Greenfield, Bernard Teitelbaum, C & G Ventures, Inc., Video USA Associates — 1, Limited Partnership, Video USA Associates — 1(b), Limited Partnership, Video USA Associates — 2(a), Limited Partnership, Video USA Associates — 2(b), Limited Partnership, Video USA Associates — 2(c), Limited Partnership, Video USA Associates — 2(d), Limited Partnership, Video USA Associates — 4, Limited Partnership, Video USA Associates, Inc. — # 1, Video USA Associates, Inc. — # 2, Video USA Associates, Inc. — # 4, Video USA Ltd., Video USA International Corp., Mast Capital Investors, Ltd., Touche Ross and Co., Deloitte & Touche, Martin Cianciaruso, Alan Friedman, Jerry Cohen, Ruffa & Hanover, P.C. and Samuel Konigsberg, Defendants.

United States District Court, E.D. New York.

May 9, 1996.

Attorney(s) appearing for the Case

Stephen Powers, Fink Weinberger, New York City, for Plaintiffs.

Richard Goldstein, Shea & Gould, New York City, for Defendants Touche Ross, Alan Friedman, and Jerry Cohen.

Peter Kurshan, Herzfeld & Rubin, New York City, for Defendants Marvin Greenfield, Norman Nick, Mast Capital Investors, Ltd., Video USA Associates Inc., # 1, Video USA Associates Inc., # 2.

Glenn Backer, New York City, for Defendants Video USA Associates — 1, Video USA Associates — 1(b), Limited Partnership, Video USA Associates — 2(a), Limited Partnership, Video USA — 2(b), Limited Partnership, Video USA Associates USA — 2(c), Limited Partnership, Video USA — 2(d), Limited Partnership, Video USA — 4, Limited Partnership.

Michael Berger, New York City, for Defendant Video USA Associates Inc., # 4.

Kenneth Sussmane, Konigsberg, Sussmane & Zapfel, New York City, for Defendants Ruffa & Hanover and Samuel Konigsberg.

MEMORANDUM & ORDER

DEARIE, District Judge.

Plaintiffs, 116 limited partners who together invested approximately $13 million in seven limited partnerships, bring this action against the limited partnerships and the principals, promoters, employees, and retained professionals of the limited partnerships, alleging that defendants failed to disclose material facts, made material misrepresentations, committed a series of fraudulent activities, and engaged...

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