Fletcher v. Gagosian

604 F.2d 637 Charles L. FLETCHER and Milton Fredman, as the Co-Trustees of Royal Inns of America, Inc., a California Corporation, Plaintiffs-Appellants, v. Earl GAGOSIAN, Individually and as Trustee of the Earl Gagosian and Mary C. Gagosian Trust, Mary C. Gagosian, Individually and as Trustee of the Earl Gagosian and Mary C. Gagosian Trust U/A, Does I through XXV, and Roes I through XXV, Defendants-Appellees. No. 77-3488. United States Court of Appeals, Ninth Circuit. Sept. 17, 1979. Terry D. Ross, Gray, Cary, Ames & Frye, San Diego, Cal., for defendants-appellants. James W. Meisenheimer, Ferris, Brennan & Meisenheimer, San Diego, Cal., for plaintiffs-appellees. Appeal from the United States District Court for the Southern District of California. Before CHAMBERS, WALLACE and TANG, Circuit Judges. CHAMBERS, Circuit Judge: 1 At the outset we have to decide if we have jurisdiction. This is an attempted appeal by court-appointed trustees of a California corporation undergoing reorganization under Chapter X of the Bankruptcy Act. Their third amended complaint is in two counts. It alleges that the defendants were insiders who traded improperly in the corporation's stock. The…