Buford White Lumber Co. Profit Sharing & Savings Plan & Trust v. Octagon Properties, Ltd.

740 F. Supp. 1553 (1989)

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Buford White Lumber Co. Profit Sharing & Savings Plan & Trust v. Octagon Properties, Ltd.

United States District Court for the Western District of Oklahoma
740 F. Supp. 1553 (1989)

SC

Facts

Buford White Lumber Company Profit Sharing & Savings Plan & Trust (Buford) (plaintiff) was an investor in Octagon Properties, Ltd. (Octagon) (defendant). Buford was a limited partner in the partnership. Buford relied on a prospectus prepared by an Octagon attorney. Buford brought suit, claiming that the prospectus contained false information and that the attorney knew or should have known that the information was false and should have disclosed this knowledge to limited partners such as Buford.

Rule of Law

Issue

Holding and Reasoning (Russell, J.)

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