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STEWART v. BENNETT

Civ. A. No. 71-3022-T.

359 F.Supp. 878 (1973)

David S. STEWART et al. v. Edward M. BENNETT et al.

United States District Court, D. Massachusetts.

April 20, 1973.

Attorney(s) appearing for the Case

Moulton, Looney, Mazzone, Falk & Markham, Stephen Moulton, Boston, Mass., Sherburne, Powers & Needham, Robert F. White, Boston, Mass., Hartley J. Chazen, New York City, co-counsel for Channing Securities, Inc., and D. S. Stewart.

Hemenway & Barnes, George H. Kidder, Boston, Mass., for Hunt.

Ropes & Gray, George H. Lewald, Boston, Mass., for Arthur Andersen & Co.

Hill & Barlow, John M. Kahn, Boston, Mass., for Edward M. Bennett and Joseph Spiegel.

Nutter, McClennen & Fish, Daniel J. Gleason, Boston, Mass., for Shields & Company, Incorporated (and the other underwriter defendants).

Philip D. Moran, Kane & Moran, Lynn, Mass., for Lloyd O. Ireland.

Louis Loss, Cambridge, Mass., for David R. Pokross and A. Warren Wilkinson.

David W. Walsh, Westwood, Mass., for James J. Cannon, Jr.

Joseph T. Fahy, Peabody, Brown Rowley & Storey, Cornelius J. Moynihan, Jr., Boston, Mass., for David R. Pokross and Warren Wilkinson.

OPINION

TAURO, District Judge.

This is a securities action brought on behalf of a proposed class of purchasers of Viatron Computer Systems Corporation ("Viatron") debentures. The defendants are the officers and directors of Viatron at the time of the offering, the underwriters of the offering, and Viatron's accounting firm.

The two counts of the complaint allege identical misstatements and omissions in the registration statement and prospectus filed...

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