Gray

ORDER GRANTING DEFENDANTS’ MOTIONS FOR SUMMARY JUDGEMENT AND MOTIONS TO DISMISS

INTRODUCTION

Defendants’ Motions for Summary Judgement and Motions to Dismiss were scheduled to be heard on September 5, 1991. Defendants KPMG Peat Marwick (“Peat Marwick”) and the Winthrop Defendants moved for summary judgement and for dismissal. Defendants General Electric Company, General Electric Pension Trust (“GEPT”), and Arthur S. Bahr, as trustee of GEPT (the “GE Defendants”) moved for summary judgement. After a review of the briefs, this court considered it appropriate to submit the motion on the pleadings pursuant to Local Rule 220-1, and now GRANTS the motions.

BACKGROUND

This is a securities class action arising out of the failure of a real estate limited partnership organized by the Winthrop Defendants. Defendant GEPT was the lender which provided financing for the real estate project. Defendant Peat Marwick prepared or participated in the preparation of financial forecasts for the partnership. Plaintiffs, who are investors in the limited partnership, allege that the offering materials prepared by certain of the defendants created a false and misleading picture that the investments in…