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IN RE EXECUTIVE TELECARD, LTD. SECURITIES LITIGATION

No. 94 Civ. 7846(CLB).

913 F.Supp. 280 (1996)

In re EXECUTIVE TELECARD, LTD. SECURITIES LITIGATION.

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

January 31, 1996.

Attorney(s) appearing for the Case

Stuart D. Wechsler, Wechsler Harwood Halebian & Feefer L.L.P., New York City, for Moise Katz and Croyden Associates.

Richard Bemporad, David C. Harrison, Lowey, Dannenberg, Bemporad & Sellinger, P.C., New York City, for Mel Weiner.

A. Arnold Gershon, New York City, for John Griffin.

Robert C. Finkel, Wolf Popper Ross Wolf & Jones, L.L.P., New York City, for Joseph Labarca.

Steven Altman, Ziegler, Ziegler & Altman, New York City, Jonathan D. Bassett, Willkie, Farr & Gallagher, New York City, for Executive Telecard, Ltd.

Leon Friedman, Leon Friedman, New York City, for William V. Moore.

Steven Altman, Ziegler, Ziegler & Altman, New York City, for Robert N. Schuck, Allen Mandel, Carl J. Corcoran and Estate of C.C. Duncan.

Steven Altman, Ziegler, Ziegler & Altman, New York City, Richard D. Emery, New York City, for Edward J. Gerrity, Jr.

Leon Friedman, Leon Friedman, New York City, for Network Data Systems, Ltd.

Richard O. Bertoli, Montgomery, PA, pro se.

MEMORANDUM AND ORDER

BRIEANT, District Judge.

This action under Section 10(b) of the Securities Exchange Act of 1934 arises out of the purchase of the common stock of Executive Telecard, Ltd. ("EXTL") by a putative class of purchasers that bought EXTL at allegedly inflated prices during the period of October 28, 1991, through October 27, 1994. By Notice of Motion dated May 15, 1995, defendant Goldstein, Karlewicz & Goldstein ("GKG") moved for...

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