Benoay v. Decker

Per Curiam. The appellants, Benoay, and others, are individual investors who purchased fractional individual oil and gas interests in an investment entitled Program IV, Packages I and II. This program was promoted, offered for sale, and financed by co-defendants Donald C. Decker, Kenneth Tureaud, POM Corporation, Natural Resources Investment Corporation (Natural Resources) and Michigan National Bank of Detroit (Michigan Bank). The appellants asserted that Michigan Bank, Coopers and Lybrand, and thirty-three other defendants participated in or aided and abetted the sale of these fraudulent securities. These defendants were collectively known as the "John Doe" defendants.