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IN RE EXECUTIVE TELECARD, LTD. SECURITIES LITIGATION

No. 94 CIV. 7846(CLB).

979 F.Supp. 1021 (1997)

In re EXECUTIVE TELECARD, LTD. SECURITIES LITIGATION.

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

October 16, 1997.

Attorney(s) appearing for the Case

James G. Flynn, Wechsler, Harwood, Halebian & Feffer, New York City, for plaintiff.

Steven Altman, Ziegler, Ziegler & Altman, New York City, for defendant Executive Telecard, Robert Schuck, Estate of C.C. Duncan and Allen Mandel.

Dan L. Goldwasser, Vedder, Price, Kaufman, Kammholz & Day, New York City, for defendant Goldstein, Karlewicz & Goldstein.

Stephen Altman, Richard Emery, P.C., New York City, for defendant Edward J. Garrity, Jr.

Leon Friedman, New York City, for defendant Network Data Systems William Moore.

Manta and Welge, Philadelphia, PA, for defendant Carl J. Corcoran.

MEMORANDUM AND ORDER

BRIEANT, District Judge.

This class 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 class of investors that bought EXTL at allegedly inflated prices (the "Class") during the period of October 28, 1991, through October 27, 1994 (the "Class Period"). Plaintiffs in this fraud on the market case allege that (1) the defendants...

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