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IN RE RAMADA INNS SECURITIES LITIGATION

No. 81-456.

550 F.Supp. 1127 (1982)

In re RAMADA INNS SECURITIES LITIGATION. Benjamin DRESNIN, et al., and all others similarly situated, Plaintiffs, v. RAMADA INNS, INC., et al., Defendants.

United States District Court, D. Delaware.

November 4, 1982.

Attorney(s) appearing for the Case

William Prickett, Elizabeth McGeever, Prickett, Jones, Elliott, Kristol & Schnee, Wilmington, Del., Law Offices of Arthur N. Abbey, New York City, Berger & Montague, Philadelphia, Pa., Greenfield & Chimicles, Bala Cynwyd, Pa., Kohn, Savett, Marion & Graf, Wolf, Block, Schorr & SolisCohen, Ominsky, Joseph & Welsh, Philadelphia, Pa., for plaintiffs.

Rodman Ward, Jr., Stephen P. Lamb, James G. Wiles, Andrew J. Turezyn, Skadden, Arps, Slate, Meagher & Flom, Wilmington, Del., for defendant Ramada Inns, Inc.

Bruce M. Stargatt, Jack B. Jacobs, Young, Conaway, Stargatt & Taylor, Wilmington, Del., for individual defendants.

OPINION

STAPLETON, District Judge:

This is a consolidated class action charging violations of Section 10(b) of the Securities Exchange Act of 1934, 15 U.S.C. § 78j(b), and Rule 10b-5 of the Securities and Exchange Commission, 17 C.F.R. § 240.10b-5.1 Plaintiffs have claimed that between January 28, 1979 and August 17, 1981, inclusive (the "class period"), defendants by means of material omissions and misrepresentations...

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