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PAYNE v. DELUCA

No. CA 02-1927.

433 F.Supp.2d 547 (2006)

Thomas L. PAYNE, Sid Archinal, Gary H. Karesh, Jo Ann Karesh, Belca D. Swanson and Merle K. Swanson, individually and on behalf of all others similarly situated, Plaintiffs, v. Anthony J. DELUCA, Harry J. Soose, Francis J. Harvey, James C. McGill, Richard W. Pogue, Daniel A. D'Aniello, Phillip B. Dolan, E. Martin Gibson, Robert F. Pugliese, James David Watkins, and the Carlyle Group, Defendants.

United States District Court, W.D. Pennsylvania.

May 2, 2006.

Attorney(s) appearing for the Case

Kwasi A. Asiedu, Law Offices of Kwasi A. Asiedu, Torrance, CA, Lionel Z. Glancy, Michael Goldberg, Robert Zabb, Glancy & Binkow, Los Angeles, CA, Richard J. Pocker, Boies, Schiller & Flexner, Las Vegas, NV, Brian D. Long, Milberg, Weiss, Bershad & Schulman, Wilmington, DE, E. Powell Miller, Miller Shea, Rochester, MI, Nicholas E. Chimicles, Steven A. Schwartz, Chimicles & Tikellis, Haverford, PA, Brian D. Long, Milberg, Weiss, Bershad & Schulman, Wilmington, DE, E. Powell Miller, Miller Shea, Rochester, MI, for Plaintiffs.

David A. Becker, Thomas L. Patten, Courtney S. Schorr, Laurie B. Smilan, Latham & Watkins, Washington, DC, Mark A. Willard, Robert V. Campedel, Eckert, Seamans, Cherin & Mellott, LLC, Charles A. Demonaco, Kimberly L. Haddox, Richard J. Federowicz, Dickie, McCamey & Chilcote, Larry K. Elliott, Cohen & Grigsby, Pittsburgh, PA, Peter C. Bernhard, Boyac, Bernhard & Leslie, Las Vegas, NV, for Defendants.

MEMORANDUM OPINION

SCHWAB, District Judge.

Pending before the Court is Defendants' Motion to Dismiss the Second Amended Class Action Complaint ("SAC"), Docket No. 73. For the reasons discussed below, the Motion is granted in its entirety and Plaintiffs' complaint is dismissed with prejudice.

I. BACKGROUND

A. Factual History1

IT Group, Inc. ("ITG" or "the Company"), was a Delaware...

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