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VAN DE VELDE v. COOPERS & LYBRAND

Civ. A. No. 94-11616 PBS.

899 F.Supp. 731 (1995)

M. Murray VAN DE VELDE, Ernest Van Den Haag, Donald Delliquanti, H. Paul Lasky, Pearl Ladenheim, Richard A. Pitino, Ruth Bommer Rosenstein, and Tarek Kettaneh, Plaintiffs, v. COOPERS & LYBRAND, Defendant.

United States District Court, D. Massachusetts.

June 23, 1995.

Attorney(s) appearing for the Case

Thomas G. Shapiro, Boston MA, Stephen V. Saia, Boston, MA, for plaintiffs.

Peter M. Casey, Boston MA, Michael A. Albert, Boston MA, Mary Jo Montagnino, Gloucester MA, for defendant.

MEMORANDUM OF DECISION AND ORDER ON DEFENDANT'S MOTION TO DISMISS

SARIS, District Judge.

This is a class action for securities law and state common law violations brought by certain shareholders of Ferrofluidics, Inc., against Ferrofluidics' auditor, Coopers & Lybrand, arising out of alleged accounting improprieties in Ferrofluidics' financial statements for fiscal year 1992 ("FY 92"). Defendant moves to dismiss the complaint, mainly on the grounds that...

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