Spinner Corporation, a Utah Corporation, Plaintiff/counterclaim-Defendants v. Princeville Development Corporation, a Colorado Corporation, Defendant/counter-Plaintiff/appellant. v. Morgan, Olmstead, Kennedy & Gardner, Inc., Counter-Defendant/appellee

849 F.2d 388 SPINNER CORPORATION, a Utah corporation, et al., Plaintiff/Counterclaim-defendants, v. PRINCEVILLE DEVELOPMENT CORPORATION, a Colorado corporation, Defendant/Counter-plaintiff/Appellant. v. MORGAN, OLMSTEAD, KENNEDY & GARDNER, INC., Counter-defendant/Appellee. No. 87-2076. United States Court of Appeals, Ninth Circuit. Argued and Submitted April 15, 1988. Decided June 8, 1988. As Amended July 1, 1988. Edward A. Jaffe, Thomas Yamachika, Honolulu, Hawaii, for defendant/counter-plaintiff/appellant. Martin C. Washton, Elisabeth B. Long, Gibson, Dunn & Crutcher, Los Angeles, Cal., for counter-defendant/appellee. Appeal from the United States District Court for the District of Hawaii. Before SNEED, HUG and KOZINSKI, Circuit Judges. SNEED, Circuit Judge: 1 Princeville Development Corp. (Princeville) appeals the district court's dismissal of its "baby" FTC Act claim under Haw.Rev.Stat. Sec. 480-2 against Morgan, Olmstead, Kennedy, and Gardner Inc. (Morgan Olmstead). We affirm. I. FACTS AND PROCEEDINGS BELOW 2 In late 1985, Spinner Corp. launched a hostile tender offer against Princeville. Morgan Olmstead served as Spinner's investment banker and advisor. At…