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Austin v. Bradley, Barry & Tarlow, P.C.

836 F. Supp. 36 (1993)

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Austin v. Bradley, Barry & Tarlow, P.C.

United States District Court for the District of Massachusetts
836 F. Supp. 36 (1993)

SC

Facts

Bradley, Barry & Tarlow, P.C. (Bradley) (defendant) represented Ocean Limited (Ocean) in a yacht-management offering. Bradley drafted the offering memorandum, which Charles Austin and three others (collectively, Austin) (plaintiffs) relied on to invest in the offering. Austin sued Bradley, alleging that the memorandum did not disclose all material information, including the insolvency of Ocean, in violation of federal securities laws. Bradley filed a motion for summary judgment, arguing that it did not have a duty to disclose this information.

Rule of Law

Issue

Holding and Reasoning (Skinner, J.)

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