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IN RE ORFA SECURITIES LITIGATION

Civ. A. Nos. 86-1121(SSB), 86-1462(SSB), 86-1555(SSB) and 86-1589(SSB).

654 F.Supp. 1449 (1987)

In re ORFA SECURITIES LITIGATION.

United States District Court, D. New Jersey.

February 10, 1987.

Attorney(s) appearing for the Case

Silverman & Harnes by Sidney B. Silverman, New York City, for plaintiffs Meno Shir and Looking Sharp, Inc.

Brown & Connery by Steven G. Wolschina, Westmont, N.J., Liaison Counsel for plaintiffs.

Donald B. Lewis, Philadelphia, Pa., Chairman of plaintiffs' Executive Committee.

Schnader, Harrison, Segal & Lewis by Charles C. Hileman, Philadelphia, Pa., Kenney & Kearney by Joseph H. Kenney, Cherry Hill, N.J., for individual defendants.

Moss, Powers & Lezenby by William R. Powers, Jr., Moorestown, N.J., for defendant ORFA Corp. of America.

David B. Zlotnick, Bala Cynwyd, Pa., Garwin, Bronzaft & Gerstein by Bruce E. Gerstein, Silverman & Harnes by Joan T. Harnes, New York City, for the Derivative plaintiff.

Gross & Sklar, P.C. by Eugene A. Spector, Philadelphia, Pa., Members of plaintiffs' Executive Committee.

Rudolph, Seidner, Goldstein, Rochestie & Salmon, P.C. by Robert M. Roseman, Philadelphia, Pa., Stull, Stull & Brody by Jules Brody, Wolf, Popper, Ross, Wolf & Jones by I. Stephen Rabin, Howard B. Sirota, P.C. by Moshe Balsam, New York City, for plaintiffs.

BROTMAN, District Judge:

I. Procedural and Factual Background

Plaintiffs by their consolidated amended class action and derivative complaint, filed May 12, 1986, ("Complaint"), sued defendants, pursuant to their claim that defendants harmed plaintiffs by artificially inflating the price of ORFA common stock. Plaintiffs, individuals1 and one corporate entity, ("Plaintiffs"), are shareholders of ORFA common stock who purchased...

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