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IN RE PROVIDIAN FINANCIAL CORP. SEC. LITIGATION

No. CIV.A. 00-1467. MDL No. 1301.

152 F.Supp.2d 814 (2001)

In re PROVIDIAN FINANCIAL CORPORATION SECURITIES LITIGATION.

United States District Court, E.D. Pennsylvania.

July 5, 2001.

Attorney(s) appearing for the Case

Lester Levy, Robert C. Finkel, Wolf, Popper, Ross, Wolf & Jones, New York City, Vincent R. Cappucci, Entwistle & Cappucci, New York City, for plaintiff.

Darryl J. May, Ballard, Spahr, Andrews and Ingersoll, Philadelphia, PA, Robert A. Van Nest, San Francisco, CA, for defendants.

George H. Brown, Heller, Ehrman, White & Mcauliffe LLP, Menlo Park, CA, for movant.

Memorandum and Order

YOHN, District Judge.

The plaintiffs in this consolidated class action allege that Providian Financial Corporation ("Providian"); its Chairman of the Board, President, and Chief Executive Officer Shalish Mehta ("Mehta"); and its Executive Vice President and Chief Financial Officer David Petrini ("Petrini") all engaged in securities fraud in violation of § 10(b) of the Securities Reform Act of 1934 and Rule 10b-5 promulgated thereunder...

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