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BACKMAN v. POLAROID CORP.

Civ. A. Nos. 79-1031-MC, 79-1284-MC and 79-1285-MC.

540 F.Supp. 667 (1982)

Irving BACKMAN, et al., Plaintiffs, v. POLAROID CORPORATION, et al., Defendants.

United States District Court, D. Massachusetts.

June 8, 1982.

Attorney(s) appearing for the Case

Thomas G. Shapiro, Shapiro & Grace, Boston, Mass., B. L. Knapp, Lowey, Dannenberg & Knapp, P. C., New York City, for plaintiffs in No. 79-1031-MC.

Christopher Brady, James E. Tolan, Olwine, Connelly, Chase, O'Connell & Weyher, New York City, Francis Fox, Bingham, Dana & Gould, Boston, Mass., for defendant Polaroid.

A. Van C. Lanckton, Boston, Mass., for defendant Polaroid in Nos. 79-1031-MC, 79-1285-MC.

Laurence S. Fordham, Foley, Hoag & Eliot, Boston, Mass., for defendants Julius Silver and Jurodin Fund Inc.

Samuel Hoar, Goodwin, Procter & Hoar, Boston, Mass., for defendants Rowland Foundation and Edwin Land.

Carol Goodman, Boston, Mass., for defendants Rowland Foundation and Edwin Land in No. 79-1031-MC.

Arthur N. Abbey, New York City, for plaintiff in No. 79-1285-MC.

Joseph D. Steinfield, Hill & Barlow, Boston, Mass., for plaintiff in Nos. 79-1284-MC, 79-1285-MC.

Davis, Polk & Wardwell, New York City, for defendant Polaroid in Nos. 79-1284-MC, 79-1285-MC.

Kreindler & Kreindler, New York City, for plaintiff in No. 79-1284-MC.

MEMORANDUM AND ORDER

McNAUGHT, District Judge.

In this consolidation of three purported class actions, the plaintiffs allege that the defendants violated § 10(b) of the Securities Exchange Act of 1934, 15 U.S.C. § 78j(b) and SEC Rule 10b-5, 17 C.F.R. 240.10b-5. The plaintiffs are purchasers of Polaroid stock and Polaroid call options between January 11, 1979 and February 22, 1979. The defendants are the Polaroid Corporation; Dr. Edwin Land, its...

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