This is the property of the Daily Journal Corporation and fully protected by copyright. It is made available only to Daily Journal subscribers for personal or collaborative purposes and may not be distributed, reproduced, modified, stored or transferred without written permission. Please click "Reprint" to order presentation-ready copies to distribute to clients or use in commercial marketing materials or for permission to post on a website. and copyright (showing year of publication) at the bottom.

Securities
Fraud Class Action
Stocks and Bonds

In Re Melridge Securities Litigation

Published: Jun. 29, 1993 | Result Date: May 26, 1993 | Filing Date: Jan. 1, 1900 |

Case number: CV871426FR –  $88,000,000

Judge

Helen Frye

Court

USDC Oregon


Attorneys

Plaintiff

Gary M. Berne

N. Robert Stoll

Merrill G. Davidoff


Defendant

Barnes Ellis


Experts

Plaintiff

John Torkelsen
(technical)

Donald E. Wharton
(technical)

Defendant

Charles D. Murphy
(technical)

Dan Fischel
(technical)

Facts

In October of 1983, Defendants George Heuelein, Gordon Flattum, and Gary Wood took charge of a lily bulb business, over stating its value in order to fraudulently sell stocks and bonds to Plaintiff investors. There were no financial controls, and the fraud continued until 1987. Heuelein absconded, Flattum is in prison, and Wood plead guilty to a tax charge.

Settlement Discussions

Offers and demands were not disclosed.

Damages

$88,000,000

Deliberation

3 days

Poll

7-0

Length

4 months


#98780

For reprint rights or to order a copy of your photo:

Email jeremy@reprintpros.com for prices.
Direct dial: 949-702-5390