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RIGGS v. SCHAPPELL

Civil Action Nos. 95-5463 (JBS), 95-5464 (JBS).

939 F.Supp. 321 (1996)

Robert RIGGS and Helen Riggs, Plaintiffs, v. Bruce G. SCHAPPELL, executor for the estate of Steven Schappell, Mercer Securities, Ltd., William B. Boyd, III, Thomas H. Tarantino, William D. Coleman, Correspondent Services Corp., Paine Webber Inc., Lawrence Stevens, Defendants. Walter BECK and Vivian Beck, Plaintiffs, v. Bruce G. SCHAPPELL, executor for the estate of Steven Schappell, Mercer Securities, Ltd., William B. Boyd, III, Thomas H. Tarantino, William D. Coleman, Correspondent Services Corp., Paine Webber Inc., Lawrence Stevens, Defendants.

United States District Court, D. New Jersey.

August 26, 1996.

Attorney(s) appearing for the Case

Robert T. Cohen, Cherry Hill, NJ, for plaintiffs Robert and Helen Riggs and Walter and Vivian Beck.

Robert A. White, Elizabeth Hoop Fay, Morgan, Lewis & Bockius, Princeton, NJ, for defendants Correspondent Services Corporation and Paine Webber, Inc.

OPINION

SIMANDLE, District Judge:

Plaintiffs, Robert and Helen Riggs and Walter and Vivian Beck, bring these two substantially similar lawsuits against numerous individual and entity defendants under federal and state securities laws as well as under state common law alleging that they were defrauded of sizable sums of money through the defendants' investment of their retirement accounts in speculative stocks and securities. Presently before this...

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