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RUDINGER v. INSURANCE DATA PROCESSING, INC.

Civ. A. No. 90-2871.

778 F.Supp. 1334 (1991)

Warren C. RUDINGER v. INSURANCE DATA PROCESSING, INC. and Peter D. Carlino.

United States District Court, E.D. Pennsylvania.

November 19, 1991.

Attorney(s) appearing for the Case

Barbara Anisko, Christopher Momjian, Gerald E. Burns, Dilworth, Paxson, Kalish & Kauffman, Philadelphia, Pa., for plaintiff.

Carl T. Bogus, Noreen Walsh, Jeffrey Cooper, Mesirov, Gelman, Jaffe, Cramer & Jamieson, Philadelphia, Pa., for defendants.

MEMORANDUM AND ORDER

DITTER, District Judge.

In this action, plaintiff alleges violations of Section 10(b) of the Securities Exchange Act of 1934, 15 U.S.C. § 78j; Securities Exchange Commission Rule 10b-5, 17 C.F.R. 240.10b-5; and Pennsylvania law. Defendants move for summary judgment contending: 1) plaintiff has failed to show the requisite scienter for a securities fraud claim; 2) plaintiff lacks standing under 10b-5 since he neither purchased nor...

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