Page:Olcott v. Delaware Flood Co.pdf/3

 award, but remand with instructions to recalculate the prejudgment interest award.

I.

Plaintiff Bernard Olcott, an investor in oil drilling and exploration limited partnerships, filed a complaint against Defendants in 1982 alleging federal securities law violations and various state law tort, fraud and breach of contract claims. The claims arose out of Defendants' solicitation, sale and operation of oil tax shelter limited partnership units between 1976 and 1979. Plaintiff's suit sought damages and rescission of the investment contracts. In February 1986, after unsuccessfully attempting to employ more traditional discovery motions, Plaintiff filed a motion to compel Defendants to render an accounting of all partnership assets and income. On March 4, in exchange for the court's postponement of the jury trial scheduled to begin March 17, Defendants consented to entry of an accounting order requiring them to provide Plaintiff within six months “a full, complete, meaningful, and formal accounting. . . setting forth all items of contribution, income, and expense as well as the disposition of all assets and monies. . . ." Defendants subsequently submitted three accountings. After each submission, (..continued)

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