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LEVENTHAL v. TOW

No. Civ.A.3:97CV01642DJS.

48 F.Supp.2d 104 (1999)

David LEVENTHAL, Jack Fishbaum, David Stark, Waltzer Diamond FLP, David Wampole, and Hobsen Dewey Beeman on behalf of themselves and all other similarly situated, Plaintiffs, v. Leonard TOW, Daryl A. Ferguson, Livingston E. Ross, Robert J. DeSantis, J. Michael Love, and Citizens Utilities Company, Defendants.

United States District Court, D. Connecticut.

March 31, 1999.

Attorney(s) appearing for the Case

J. Daniel Sagarin, Elias A. Alexiades, David A. Slossberg, Hurwitz & Sagarin, Milford, CT, Keith M. Fleischman, Charles Hellman, Milberg, Weiss, Bershad, Hynes & Lerach, New York, NY, for Plaintiff David Leventhal.

George Zimmerman, Skadden, Arps, Slate, Meagher & Flom, New York, NY J. Daniel Sagarin, Elias A. Alexiades, David A. Slossberg, Hurwitz & Sagarin, Milford, CT, Keith M. Fleischman, Charles Hellman, Milberg, Weiss, Bershad, Hynes & Lerach, New York, NY, for Plaintiff Jack Fishbaum.

J. Daniel Sagarin, Elias A. Alexiades, David A. Slossberg, Hurwitz & Sagarin, Milford, CT, Keith M. Fleischman, Charles Hellman, Milberg, Weiss, Bershad, Hynes & Lerach, New York, NY, for Plaintiffs David Stark, Walter Diamond FLP, David Wampole, Hobson Dewey Beeman.

Shoshanah Victoria Asnis, George Zimmerman, Skadden, Arps, Slate, Meagher & Flom, New York, NY, James F. Stapleton, Jonathan B. Tropp, Day, Berry & Howard, Stamford, CT, for Defendants.

MEMORANDUM OPINION AND ORDER

SQUATRITO, District Judge.

The plaintiffs, stockholders in the Citizens Utilities Company ("Citizens"), brought this class action claiming that the defendants concealed and misrepresented Citizens' financial condition. Specifically, the complaint alleges that Citizens concealed information regarding the value of its assets and the state of its telecommunications expansion, in violation of Sections 10(b) and 20(a) of the...

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