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IN RE WESTINGHOUSE SECURITIES LITIGATION

Civ. A. Nos. 91-354, 91-624.

832 F.Supp. 989 (1993)

In re WESTINGHOUSE SECURITIES LITIGATION. This Order Relates to the Derivative Action.

United States District Court, W.D. Pennsylvania.

July 27, 1993.

Attorney(s) appearing for the Case

Howard A. Specter, George C. Mahfood, Pittsburgh, PA, Michael Malakoff, Malakoff Doyle & Finberg, Pittsburgh, PA, Alfred G. Yates, Pittsburgh, PA, Jules Brody, Melissa R. Emert, Stull Stull & Brody, New York City, Arthur N. Abbey, Joshua N. Rubin, New York City, for plaintiffs.

Joseph A. Katarincic, Terrance J. O'Rourke, Pittsburgh, PA, Dennis J. Block, Weil Gotshal & Manges, New York City, for defendants Paul E. Lego and William A. Powe.

Mark C. Rifkin, Richard D. Greenfield & Partners, Haverford, PA, Lead counsel for plaintiffs in the Derivative Action.

Leonard Fornelia, Polito & Smock, Pittsburgh, PA, for Nominal defendant Westinghouse Corp.

J. Thomlinson Fort, Reed Smith Shaw & McClay, Pittsburgh, PA, Robert Zimet, Skadden Arps Slate Meager & Flom, New York City, for underwriter defendants.

James D. Morton, Arthur J. Schwab, Buchanan Ingersoll, Pittsburgh, PA, Emily Nicklin, Kirkland & Ellis, Chicago, IL, for defendant Price Waterhouse.

William F. Stoll, Jr., Westinghouse Elec. Corp., Pittsburgh, PA, Westinghouse Elec. Corp. Law Dept.

OPINION AND ORDER

D. BROOKS SMITH, District Judge.

I. INTRODUCTION

Plaintiffs Joseph H. Levit and George M.D. Richards (the derivative plaintiffs) bring this action individually and derivatively on behalf of Westinghouse Electric Corporation against nominal defendant Westinghouse Electric Corporation, and thirteen individual defendants who sat on the Board of Directors of Westinghouse or one of its subsidiaries at times relevant to...

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