William M. Shernoff v. McMahan Brafman, Morgan & Co., a Limited Partnership, AKA McMahan & Co. Does I--Xxx

26 F.3d 132 NOTICE: Ninth Circuit Rule 36-3 provides that dispositions other than opinions or orders designated for publication are not precedential and should not be cited except when relevant under the doctrines of law of the case, res judicata, or collateral estoppel. William M. SHERNOFF, Plaintiff-Appellant, v. MCMAHAN, BRAFMAN, MORGAN & CO., a limited partnership, aka MCMAHAN & CO.; DOES I--XXX, Defendants-Appellees. No. 92-56578. United States Court of Appeals, Ninth Circuit. Submitted June 9, 1994. * Decided June 15, 1994. Before: FARRIS, O'SCANNLAIN, and TROTT, Circuit Judges. 1 MEMORANDUM ** 2 William M. Shernoff sued McMahan, Brafman, Morgan & Co. ("MBM") for securities fraud in relation to his investment in a New York limited partnership in 1982. Shernoff appeals the district court's grant of summary judgment to the appellees based on the running of the statute of limitations and Shernoff's assignment of his rights to McMahan. We affirm. 3 * The statute of limitations for securities fraud commences when the plaintiffs are put on inquiry notice of the fraud. Volk v. D.A. Davidson & Co., 816 F.2d 1406, 1410 (9th Cir.1987). In Volk, we held that the…