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IN RE NATIONAL STUDENT MARKETING LITIGATION

M.D.L. Docket No. 105.

517 F.Supp. 1345 (1981)

In re NATIONAL STUDENT MARKETING LITIGATION.

United States District Court, District of Columbia.

July 17, 1981.

Attorney(s) appearing for the Case

John W. Castles, III, Lord, Day & Lord, New York City, for Lord Bissell & Brook; Max E. Meyer, and Louis F. Schauer.

Edwin J. Wesely, Winthrop, Stimson, Putnam & Roberts, New York City, Daniel A. Rezneck, Lawrence A. Schneider, Arnold & Porter, Washington, D. C., for White & Case and Marion Jay Epley, III.

William E. Hegarty, Mathias Mone, Cahill, Gordon & Reindel, New York City, for Peat, Marwick, Mitchell & Company, Anthony M. Natelli, and Joseph Scansaroli.

George P. Michaely, Jr., Shaw, Pittman, Potts & Trowbridge, Washington, D. C., for Donald A. Fergusson and Robert A. Fergusson.

Sidney Dickstein, Dickstein, Shapiro & Morin, Washington, D. C., for Roger O. Walther.

John J. Cooleen, King & Nordlinger, Washington, D. C., for Louis W. Biegler and The Biegler Foundation.

Franklin M. Schultz, Reavis & McGrath, Washington, D. C., for James F. Joy.

MEMORANDUM AND ORDER

BARRINGTON D. PARKER, District Judge:

The issue now presented for determination by the Court is whether a non-settling defendant charged with a violation of § 10(b) of the Securities Exchange Act of 1934, 15 U.S.C. § 78j(b), has an implied right to assert a cross-claim for contribution against a settling defendant. Under prevailing authority, the Court concludes that such a right exists.

I.

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