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IN RE DEL-VAL FINANCIAL CORP. SEC. LITIGATION

Master No. MDL 872.

868 F.Supp. 547 (1994)

In re DEL-VAL FINANCIAL CORP. SECURITIES LITIGATION. This Document Relates To All Actions.

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

November 10, 1994.

Attorney(s) appearing for the Case

Kaplan, Kilsheimer & Fox (Robert N. Kaplan, Frederic S. Fox, Ariana J. Tadler, of counsel), and Lowey, Dannenberg Bemporad & Selinger, P.C. (William R. Weinstein, Richard B. Dannenberg, of counsel), New York City, for plaintiffs.

Proskauer Rose Goetz & Mendelsohn, New York City (Richard L. Spinogatti, of counsel), for defendant Deloitte & Touche.

Miller Faucher Chertow, Cafferty and Wexler, Chicago, IL (Marvin A. Miller, of counsel), and Ross & Hardies, New York City (Kenneth Zuckerbrot, of counsel), for defendants Del-Val Financial Corp., Kenbee Management, Inc., Herbert L. Golden, Bernard M. Katz, Estate of Stuart T. Parson, Ben S. Read, Jr., Myron Rosenberg, Frederick E. Smithline, James Goldstein, Joel Zbar and Roger Stern.

OPINION AND ORDER

WILLIAM C. CONNER, District Judge.

Certain defendants in this complex securities fraud class action have made cross-motions for summary judgment on their respective cross-claims for contribution and indemnification. For the reasons set forth below, Settling Defendants' motion for summary judgment is granted, while Deloitte & Touche's motion for summary judgment is granted in part and denied in part.

BACKGROUND

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