IN RE MDC HOLDINGS SECURITIES LITIGATION

Civ. No. 89-0090-E(BTM).

754 F.Supp. 785 (1990)

In re MDC HOLDINGS SECURITIES LITIGATION. This Document Relates to: ALL ACTIONS.

United States District Court, S.D. California.

As Amended December 12, 1990.


Attorney(s) appearing for the Case

William S. Lerach, Patrick J. Coughlin, Helen J. Hodges, Michael R. McCabe, Milberg Weiss Bershad Specthrie & Lerach, Edward M. Gergosian, Kirk B. Hulett, Barrack, Rodos & Bacine, San Diego, Cal., for plaintiffs.

Robert L. King, Bruce G. Merritt, Debevoise & Plimpton, Los Angeles, Cal., Robert B. Von Mehren, Edwin G. Schallert, Gary W. Kubek, Debevoise & Plimpton, New York City, for defendants Lambert Brussels Associates Ltd. Partnership, Groupe Bruxelles Lambert S.A. and Pargesa Holding S.A.

J. Anthony Sinclitico, III, Meryl L. Young, Gibson, Dunn & Crutcher, San Diego, Cal., for defendant Touche Ross & Co.

Mark W. Smith, Katherine A. Lauer, Latham & Watkins, San Diego, Cal., Edwin B. Mishkin, Richard F. Ziegler, Andrew Weissman, Martin Marvet, Michael R. Chayet, Cleary, Gottlieb, Steen & Hamilton, New York City, for defendants Frederick Joseph, Robert Linton, William Brown, Richard Bruce, Maurits Edersheim, Edwin Kantor, Roger Jospe, Anthony Lamport, David Meadow, Stanley Schiff, Joseph Vitanza, Peter Schild, John Kissick, John Coffin, George Anderson, Haig Casparian, Hercules Segalas, Alexander Chapro, Aaron Eshman, Stephen Weinroth, Andrew Morse, Burton Siegel, David Kay, Herbert Bachelor, Eugene Glaser, Richard Wright, Allan Sher and Leon Black.

John E. Ponder, Sparber, Ferguson, Naumann, Ponder & Ryan, San Diego, Cal., Frederick P. Hafetz, Susan R. Necheles, Adam Thurschwell, Goldman & Hafetz, New York City, for defendant Bruce Lee Newberg.

Patricia L. Glaser, Christensen, White, Miller, Fink & Jacobs, Los Angeles, Cal., for defendant Gary Winnick.

Clara A. Pope, Kaye, Scholer, Fierman, Hays & Handler, Los Angeles, Cal., Peter M. Fishbein, Gregory J. Wallance, New York City, Steven R. Andrews, P.A., Bonita Springs, Fla., for defendant James H. Dahl.

Charles L. Birke, Karen L. Skylar, Sandler and Rosen, Los Angeles, Cal., Steven B. Rosenfeld, Jonathan H. Hurwitz, Colleen McMahon, Paul Weiss Rifkind Wharton & Garrison, New York City, for defendant Michael R. Milken.

Robert G. Steiner, R. William Bowen, Charles A. Danaher, Luce, Forward, Hamilton & Scripps, San Diego, Cal., for defendant Joseph Murphy.

Howard P. Miller, Frederick J. Brookwell, Buchalter, Nemer, Fields & Younger, Los Angeles, Cal., Michael O. Finkelstein, Lord Day & Lord, Barrett Smith, New York City, for defendant Lowell J. Milken.


MEMORANDUM DECISION AND ORDER

ENRIGHT, District Judge.

Several actions have been consolidated in this class action and shareholder derivative suit. Plaintiffs Flora Masry, Markleebeth, Inc., Milton Hollander, Morton Gordon, and William Boyle allege seven causes of action based on federal securities laws and state common law. MDC Holdings, Inc. is engaged in real estate development, sales, and financing businesses. Drexel Burnham Lambert is MDC's underwriter...

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