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ARNLUND v. SMITH

No. CIV.A.3:01-CV-105.

210 F.Supp.2d 755 (2002)

Bert E. ARNLUND, John C. Cullather, Robert J. D'Amico, Donald H. Duncan, Gregory L. Freeman, Joseph Graziano and Daniel P. Mahoney, Plaintiffs. v. Lawrence N. SMITH, William C. DeRusha, Robert L. Burrus, Jr., Eugene P. Trani and Alexander Alexander, Defendants.

United States District Court, E.D. Virginia. Richmond Division.

May 29, 2002.

Attorney(s) appearing for the Case

Steven Scott Biss, Richmond, VA, for Bert E. Arnlund, John C. Cullather, Robert J. D'Amico, Donald H. Duncan, Gregory L. Freeman, Joseph Graziano, Daniel P. Mahoney.

John C. Ivins, Jr., Hirschler, Fleischer, Weinberg, Cox & Allen, Richmond, VA, Everette G. Allen, Jr., Allen & Allen, Richmond, VA, for Lawrence N. Smith, Eugene P. Trani, Alexander Alexander.

James Joseph Burns, Williams, Mullen, Clark & Dobbins, Richmond, VA, Samuel Walter Hixon, III, Williams, Mullen, Clark & Dobbins, Richmond, VA, for William C. DeRusha.

James W. Morris, III, Morris and Morris, P.C., Richmond, VA, Michael Robert Ward, Morris and Morris, Richmond, VA, David C. Bryan, Wachtell Lipton Rosen & Katz, New York, NY, for Robert L. Burrus, Jr.

MEMORANDUM OPINION

SPENCER, District Judge.

This matter comes before the Court on Defendants' Motion to Dismiss, pursuant to Federal Rule of Civil Procedure 12(b)(6), filed on December 17, 2001. For the reasons discussed below, Defendants' Motion is GRANTED in part and DENIED in part.

I. BACKGROUND

On November 26, 2001, Plaintiffs filed their Complaint against Defendants, alleging federal securities fraud, common law fraud and conspiracy...

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