IN RE CENCO INC. SECURITIES LITIGATION

Nos. 75 C 2227, 75 C 2506, 75 C 2981, 75 C 3394 and 76 C 1085.

519 F.Supp. 322 (1981)

In re CENCO INCORPORATED SECURITIES LITIGATION. Robert HELFAND, et al., Plaintiffs, v. CENCO, INC., et al., Defendants.

United States District Court, N. D. Illinois, E. D.

June 30, 1981.


Attorney(s) appearing for the Case

Stephan A. Weiner, Winthrop, Stimson, Putnam & Roberts, New York City, for defendant Executor, Estate of Joseph Weiner.

Elliot Woocher, pro se.

Louis A. Mangone, New York City, Melvin Mishkin, Rothschild, Barry & Myers, Chicago, Ill., Elliot S. Kahn, Marion S. Kahn, c/o Spizz & Ganz, for defendant Kahn.

Paul Perito, Paul Lieberman, Perito, Duerk & Carlson, P.C., Washington, D. C., Thomas Regan, Pope, Ballard, Shepard & Fowle, Chicago, Ill., for defendant Didriksen.

Martin Ween, Kroll, Edelman, Elser & Wilson, New York City, for insurance companies.

Fred H. Bartlit, Jr., Donald E. Scott, David E. Springer, Kirkland & Ellis, Chicago, Ill., for defendant Cenco, Inc.

Samuel Weisbard, Bruce Weitzman, McDermott, Will & Emery, Chicago, Ill., for defendant Seidman & Seidman.

Keith F. Bode, Lynne E. McNown, Jenner & Block, Chicago, Ill., for defendant Strelsin; liaison for outside directors.

John Enright, Rosemarie Guadnolo, Arvey, Hodes, Costello & Burman, Chicago, Ill., for defendant Marose, Rose Pkg.

Robert Caffarelli, Lawrence Gavin, Boodell, Sears, Sugrue, Giambalvo & Crowley, Chicago, Ill., for defendant Spiegel, Swiger.

David Krneta, Chisholm & Krneta, Burbank, Ill., for defendant Urso.

Allan Horwich, Schiff, Hardin & Waite, Chicago, Ill., for third-party defendant Curtiss-Wright Corporation.

Ronald Wilder, Roger Price, Aaron, Aaron, Schimberg & Hess, Chicago, Ill., for defendant Auman.

Samuel Beck, New York City, for defendant Strelsin (general).

John Bowlus, Cotton, Watt, Jones, King & Bowlus, Chicago, Ill., for defendant Magdovitz.

David Beckwith, David Hase, Foley & Lardner, Milwaukee, Wis., for defendant Outside Directors.

Stephan Shamberg, Robert Rubin, Friedman & Koven, Chicago, Ill., Leon Gold, Robert Hawley, Shea, Gould, Climenko & Casey, New York City, for defendant Smith.

William Ward, Matthias Lydon, Hartigan & Ward, Chicago, Ill., for defendant Van Zelst.

Reuben A. Katz, pro se.

Frank Kucharski, Chicago, Ill., for defendants.

Abraham S. Robinson, New York City, for defendant Orner.

Frederick Schmauss, pro se.

Robert Glick, Narcisse Brown, Schwartz, Cooper, Kolb & Gaynor, Chicago, Ill., for defendant Howard.

Howard Tullman, Theodore Freedman, Levy & Erens, Chicago, Ill., for defendant Berman.

William E. Ray, William E. Ray, Jr., Minocqua, Wis., for defendant Rabjohns.

Gerald M. Werksman, Chicago, Ill., for defendant Casey.

Edward Foote, Kurt Schultz, Winston & Strawn, Chicago, Ill., for defendant Read.

Lowell E. Sachnoff, Anthony DiVincenzo, Sachnoff, Schrager, Jones, Weaver & Rubenstein, Ltd., Chicago, Ill., lead counsel for plaintiff class, Helfand.

Stuart Wechsler, Kass, Goodkind, Wechsler & Gerstein, New York City, for plaintiff Helfand.

Stanley R. Wolfe, David Berger, Berger & Montague, Philadelphia, Pa., for plaintiff Cucinotta, Cohen.

Merwin Auslander, Landesman, Schwartz & Auslander, Chicago, Ill., for plaintiff Rothschild.

Francis J. McConnell, McConnell & Campbell, Chicago, Ill., for plaintiff.

Charles Pressman, Pressman & Hartunian, Chicago, Ill., for plaintiff Levin.

Lawrence Walner, Chicago, Ill., for plaintiff Logan.

Philip Pierce, Ronald Shindler, Booth, Lipton & Lipton, New York City, for plaintiff Merrit.

Lawrence J. Fox, Drinker, Biddle & Reath, Philadelphia, Pa., for plaintiff (subgroup, in-outers).

Louis Koerner, Jr., Koerner & Babst, New Orleans, for plaintiff Koerner.

Robert A. Skirnick, Much, Shelist, Freed, Denenberg, Ament & Eiger, Chicago, Ill., for plaintiff E. Cohen.


MEMORANDUM OPINION AND ORDER

CROWLEY, District Judge.

Plaintiffs, security holders of Cenco, Inc., brought these class actions to enforce rights created under federal securities regulations and common law charging that from 1970 to 1975 Cenco and several of its employees, along with other individuals, manipulated inventory and altered sales figures as part of a common plan to falsify Cenco's financial position. Seidman & Seidman, Cenco's auditors, has...

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