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PHILLIPS v. KIDDER, PEABODY & CO.

No. 87 Civ. 4936 (DNE).

686 F.Supp. 413 (1988)

Robert D. PHILLIPS, individually and on Behalf of other shareholders of Computer Depot, Inc., similarly situated, Plaintiffs, v. KIDDER, PEABODY & CO., Defendant.

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

March 25, 1988.

Attorney(s) appearing for the Case

Schoengold & Sporn, P.C., New York City (Samuel P. Sporn, of counsel), for plaintiff Robert D. Phillips.

Howard, Darby & Levin, New York City (Philip K. Howard and C. William Phillips, of counsel), for defendant Kidder, Peabody & Co.

MEMORANDUM & ORDER

EDELSTEIN, District Judge:

BACKGROUND

This purported class action arises out of the filing of a Chapter 11 petition in Bankruptcy by Computer Depot, Inc. ("CDI"). The named plaintiff, Robert Phillips ("Phillips"), purchased CDI stock both during the initial public offering of the securities and in the secondary market. On both occasions Phillips purchased the stock from the defendant...

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