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PRESS v. CHEMICAL INV. SERVICES CORP.

No. 96 Civ. 8331(DLC).

988 F.Supp. 375 (1997)

Donald PRESS, on behalf of himself and all others similarly situated, Plaintiff, v. CHEMICAL INVESTMENT SERVICES CORP., Chase Manhattan Corporation, Pershing, a Corporate Division of Donaldson, Lufkin & Jenrette Securities Corporation, and Donaldson, Lufkin & Jenrette Securities Corporation, Defendants.

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

December 22, 1997.

Attorney(s) appearing for the Case

Alice McInerney, Andrea Bierstein, Kaufman, Malchman, Kirby & Squire, L.L.P., New York NY, for Plaintiff Donald Press.

Ahuva Genack, Matthew G. Leonard, Chase Manhattan Legal Department, New York, NY, for Defendants Chemical Investment Services Corp. and Chase Manhattan Corporation.

Stephen L. Ratner, Joseph Zuckerman, Rosenman & Colin, L.L.P., New York City, for defendants Pershing and Donaldson, Lufkin & Jenrette Securities Corporation.

OPINION and ORDER

COTE, District Judge.

Plaintiff Donald Press ("Press") first filed this putative class action on November 6, 1996, and filed an Amended Complaint on February 24, 1997, alleging that the defendant securities brokerage firms (and their respective corporate parents) violated Section 10(b) of the Securities Exchange Act of 1934 ("the 1934 Act"), 15 U.S.C. § 78j(b); Rules 10b-5 and 10b-10 promulgated thereunder, 17 C.F.R. §...

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