Duncan-Williams, Inc. is a financial services company, operating primarily as an asset manager and broker dealer.

The lawsuit alleges that Duncan Williams misrepresented and failed to disclose material facts in connection with the sale of Capstone bonds to Plaintiffs and other purchasers. The lawsuit further alleges that Duncan Williams failed to discharge properly its duties as underwriter of the bond issue in question. The suit alleges that Duncan Williams' conduct violated Section 10(b) of the Securities Exchange Act and SEC Rule 10b-5 promulgated thereunder, the Tennessee Securities Act, and the common law of Tennessee.

Note: The class consists of individuals and entities that purchased Capstone bonds from Duncan Williams.

On July 8, 2002, Defendant Duncan Williams, Inc. filed a motion to dismiss. On November 4, 2004, the Court entered the Order signed by Judge Jon Phipps McCalla granting the Defendant’s motion to dismiss. The next day, the Court also denied the Plaintiff’s motion to file an Amended Complaint. On November 16, 2004, the Plaintiff filed a motion to Alter or Amend Judgment and to Reconsider Denial of Leave to Amend.

On August 12, 2005, the Court entered the Order signed by U.S. District Jon Phipps McCalla denying the Plaintiff's motion to Alter or Amend Judgment and to Reconsider Denial of Leave to Amend. Further, the Court entered Judgment finding in favor of the Defendant and against the Plaintiff. The case was dismissed.