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IN RE PRESIDENTIAL LIFE SECURITIES

Nos. 92 Civ. 6968 (VLB), 92 Civ. 6977, 92 Civ. 6994, 92 Civ. 7056 and 92 Civ. 7112.

857 F.Supp. 331 (1994)

In re PRESIDENTIAL LIFE SECURITIES.

United States District Court, S.D. New York.

July 14, 1994.

Attorney(s) appearing for the Case

Jeffrey G. Smith, Wolf Haldenstein Adler Freeman & Herz, New York City, for class plaintiffs.

Michael S. Feldberg, Lynn E. Judell, Schulte Roth & Zabel, New York City, Donald S. Snider, Anthony DeToro, Baer Marks & Upham, New York City, for defendants.

MEMORANDUM

VINCENT L. BRODERICK, District Judge.

I

This case involves a class action1 brought under Section 10(b) of the Securities Exchange Act of 1934 for the benefit of current and prior shareholders of Presidential Life2 (the "Company") who had purchased its stock at a time when accounting methods utilized by the Company for high-risk...

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