Coop claims Almonte sent it a letter in which he intentionally misstated the value of those assets. On December 3, 1988, the plaintiff, responding to general rumors that Drexel "junk bond" investments were increasingly unstable, requested information about the value of its Drexel assets. When Almonte moved from Kidder to Paine Webber in June 1987, he took the Coop account with him.
KIDDER PEABODY PAINE WEBBER SERIES
Plaintiff Coop claims that defendant Almonte, while working for Kidder, fraudulently induced the Coop to invest more than three and a half million dollars in Drexel Burnham "junk bond funds." Plaintiff bought Drexel Burnham Lambert Unit Trust Series 10 and 2 ("Drexel assets") through Almonte over a period of seven months, from June 1986 to December 16, 1986. The facts were extensively discussed in an earlier opinion however, we will reiterate the essentials here. 64, 75 (D.P.R.1991), this court dismissed some of plaintiff's claims and stayed the disposition of the remaining claims pending decision by the Supreme Court in Lampf, Pleva, Lipkind, Prupis & Petigrow v. In an earlier opinion, Cooperativa de Ahorro y Crédito Aguada v. ("Kidder") and Paine Webber Incorporated ("Paine Webber") during the period he handled Coop's account. The plaintiff, Cooperativa Ahorro y Crédito Aguada ("Coop"), is a single-branch savings and loan institution, which brought claims under the Federal Securities Acts, local law fraud statutes, and the Racketeer Influenced and Corrupt Organization Act (RICO) against its account representative, Almonte, and his employers Kidder, Peabody & Co.
Richard Graffam, McConnell Valdes Kelley Sifre Griggs & Ruiz-Suria, San Juan, P.R., for Kidder.Ĭarlos Bobonis González, Bobonis Bobonis & Rodriguez Poventud, San Juan, P.R., for Paine Webber. Woods, Woods & Woods, San Juan, P.R., for Almonte. *154 Roberto Boneta, Munoz Boneta Gonzalez Arbona Benitez & Peral, San Juan, P.R., for plaintiff. Almonte, Jane Doe, and the Property Partnership existing between them, Defendants.
KIDDER, PEABODY & CO., Paine Webber, Incorporated, Ramon M. COOPERATIVA AHORRO y CREDITO AGUADA, Plaintiff,
0 kommentar(er)
