(DOWNLOAD) "Polaris Public Income Funds v. Donald Einhorn" by Third District Court of Appeal of Florida " Book PDF Kindle ePub Free
eBook details
- Title: Polaris Public Income Funds v. Donald Einhorn
- Author : Third District Court of Appeal of Florida
- Release Date : January 19, 1993
- Genre: Law,Books,Professional & Technical,
- Pages : * pages
- Size : 68 KB
Description
Per Curiam. The securities class action Weisl v. Polaris Holding Co., No. 29,239/92 (N.Y. Sup. Ct.) was filed October 28, 1992, in a
New York supreme court. The Weisl complaint seeks to certify a nationwide plaintiff class composed of "all purchasers of [Polaris]
Limited Partnership Units and their successors and assigns." The purported class consists of "approximately 78,732 persons
and entities throughout the United States" and seeks damages for common law fraud, negligent misrepresentation, breach of
fiduciary duty, breach of the Federal Securities Act of 1933, violation of NASD rules, and breach of implied covenant. About
three months after the filing of the New York complaint, a subset of the New York putative plaintiff class filed a similar
class action in Dade County. The Florida complaint alleges a failure to disclose in violation of Florida's Blue Sky Law, section
517.301, Florida Statutes (1991). Prudential Securities, also one of the defendants in the New York action, moved for a stay
in the Dade trial court based on the New York action and the Polaris defendants joined. The trial court held a hearing and
denied the stay. Polaris petitioned this court to issue a writ of certiorari to review the non-final order denying stay. We
grant the petition for certiorari, quash the non-final order of the trial court, and remand with instructions to grant the
requested stay.
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