IN RE ROSPATCH SECURITIES LITIGATION

This order relates to Case Nos. 1:90-cv-805, 1:90-cv-806, 1:90-cv-807, Nos. 1:90-CV-805 to 1:90-CV-807 and 1:91-CV-085.

760 F.Supp. 1239 (1991)

In re ROSPATCH SECURITIES LITIGATION. ATLANTIS GROUP, INC., Plaintiff, v. ROSPATCH CORPORATION, et al., Defendants. PLATO PAPER PRODUCTS, INC., Plaintiffs, v. ROSPATCH CORPORATION, et al., Defendants. Jerry ATCOVITZ, Plaintiff, v. J. Grant BEADLE, et al., Defendants. Alan FREBERG, Plaintiff, v. ROSPATCH CORPORATION, et al., Defendants.

United States District Court, W.D. Michigan, S.D.

As Amended April 10, 1991.


Attorney(s) appearing for the Case

Theodore Souris, James Albert Smith, Bodman, Longley & Dahling, Detroit, Mich., James W. Beasley, Jr., Cadwalader, Wickersham & Taft, Palm Beach, Fla., Grant B. Hering, Cadwalader, Wickersham & Taft, New York City, for Atlantis Group, Inc.

Robert H. Yaffe, Miami Beach, Fla., William J. Waddell, Grand Rapids, Mich., Stanley R. Wolfe, Jay Robert Stiefel, Janice Siegel, Berger & Montague, P.C., Stuart H. Savett, Jeanne P. Wrobleski, Kohn, Savett, Klein & Graf, P.C., Philadelphia, Pa., for Irving M. Bier et al.

William J. Waddell, Grand Rapids, Mich., Paul Steinberg, Steinberg & Slewett, Miami, Fla., Richard Schiffrin, Schiffrin & Craig, Chicago, Ill., Alvin J. Ivers, Philadelphia, Pa., Jill S. Abrams, Emily C. Komlossy, Abbey & Ellis, New York City, for Jerry Atcovitz.

Jay Robert Stiefel, Berger & Montague, P.C., Stuart H. Savett, Jeanne P. Wrobleski, Kohn, Savett, Klein & Graf, Philadelphia, Pa., for Plato Paper Products, Inc.

Grant J. Gruel, Gruel, Mills, Nims & Pylman, Grand Rapids, Mich., Mercer K. Clarke, Richard H. Critchlow, Will & Emery, Miami, Fla., William R. Golden, Jr., Kelley, Drye & Warren, New York City, for Rospatch Corp.

L. Roland Roegge, Smith, Haughey, Rice & Roegge, P.C., Grand Rapids, Mich., James N. Nowacki, William R. Jentes, Kirkland & Ellis, Chicago, Ill., Richard H. Critchlow, McDermott, Will & Emery, Michael Nachwalter, William J. Blechman, David H. Lichter, Kenny, Nachwalter, Seymour & Arnold, P.A., Miami, Fla., for Warner, Norcross & Judd and Paul K. Gaston.

Jon G. March, Thomas R. Knecht, Miller, Johnson, Snell & Cummiskey, Grand Rapids, Mich., Mercer K. Clarke, Richard H. Critchlow, McDermott, Will & Emery, Miami, Fla., for J. Grant Beadle, Jones Y. Pharr, Jr., James R. Sebastian, Jr., Keith C. Vander Hyde and Glenn M. Walters.

Gregory L. Curtner, Carl H. von Ende, Peter W. Waldmeir, Miller, Canfield, Paddock & Stone, Detroit, Mich., Jon G. March, Thomas R. Knecht, Miller, Johnson, Snell & Cummiskey, Grand Rapids, Mich., Mercer K. Clarke, Richard H. Critchlow, McDermott, Will & Emery, Miami, Fla., for Thomas H. Butler.

H. Rhett Pinsky, Pinsky, Smith, Fayette & Hulswit, Grand Rapids, Mich., Stuart J. McGregor, Miami, Fla., for Eugene J. Harris.

William F. Hunting, Jr., Law, Weathers & Richardson, Grand Rapids, Mich., Mark Hicks, Miami, Fla., for William E. Malpass, Jr. and Joseph A. Parini.

John W. Allen, Howard & Howard, P.C., Kalamazoo, Mich., Mercer K. Clarke, Richard H. Critchlow, Will & Emery, Miami, Fla., for Paul V. Smith.

Fred W. Freeman, Dickinson, Wright, Moon, Van Dusen & Freeman, Detroit, Mich., Richard A. Glaser, Dickinson, Wright, Moon, Van Dusen & Freeman, Grand Rapids, Mich., for Arthur Andersen & Co.


OPINION

HILLMAN, Senior District Judge.

In these consolidated actions, plaintiffs assert federal securities and state law violations against the various defendants. According to the complaints, defendants took actions which allegedly amounted to a fraud on the stock market and caused plaintiffs to suffer damages. Before the court are motions to dismiss these cases. The motions have been fully briefed and oral argument was heard on February 7, 1991. For the...

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