John D. Turner v. Financial Corporation of America

960 F.2d 152 NOTICE: Ninth Circuit Rule 36-3 provides that dispositions other than opinions or orders designated for publication are not precedential and should not be cited except when relevant under the doctrines of law of the case, res judicata, or collateral estoppel. John D. TURNER, Plaintiff/Appellant, v. FINANCIAL CORPORATION OF AMERICA, et. al. Defendants/Appellees No. 90-15847. United States Court of Appeals, Ninth Circuit. Argued and Submitted Aug. 20, 1991. Decided Feb. 21, 1992. Before D.W. NELSON, NOONAN and FERNANDEZ, Circuit Judges. 1 MEMORANDUM * 2 John D. Turner appeals from the grant of summary judgment in his securities fraud, RICO and common law action against defendants/appellees. The district court's order granting summary judgment is affirmed. I. Facts and Procedural Background 3 During the period between April 1986 and 1987, Turner purchased 90,000 shares of Financial Corps. of America (FCA) stock at a cost of $816,125. FCA was later taken over by federal regulators. Turner lost substantial amounts of money and attributes these losses to alleged fraudulent misrepresentations and omissions by FCA, certain officers and directors, American Savings and Loan…