First West Trust Co. This action is brought under the Federal Sec. The investment was solicited by a prospectus and newspaper advertisement both published by Trust. Plaintiffs relied upon the facts contained in the advertisement and prospectus as to the financial projection of such building. Plaintiffs allege that defendant fraudulently misrepresented that the investors would receive favorable tax benefits, case proceeds and property appreciation.
Plaintiffs pray for money damages for the loss of their investment, interest and costs.
Plaintiffs also pray for the award of punitive damages. I would file a motion for Rule 11 sanctions and serve it on defendants under the Safe Harbor provisions. These documents are protected under the attorney-client privilege. They constitute statements of the plaintiffs given to their attorney. As such, it does not fall under the protective cloak of the attorney work product rule.