No. 90-5107.

933 F.2d 616 (1991)

In re CONTROL DATA CORPORATION SECURITIES LITIGATION. Diane ABBEY, David Weisgal, William Steiner, William Randall, and John Page, Appellants, v. CONTROL DATA CORPORATION, Norbert R. Berg, William C. Norris, Robert M. Price, Marvin G. Rogers, and Peat, Marwick, Main & Co., Appellees.

United States Court of Appeals, Eighth Circuit.

Decided May 10, 1991.

Attorney(s) appearing for the Case

Robert A. Hoffman, Sheldon L. Albert, Philadelphia, Pa., Karl L. Cambronne, Minneapolis, Minn., for appellants.

Craig W. Gagnon, Minneapolis, Minn., for Control Data.

Elliott S. Kaplan, Minneapolis, Minn., for Peat, Marwick, Main & Co.

Before LAY, Chief Judge, FAGG, Circuit Judge, and WRIGHT, District Judge.

LAY, Chief Judge.

In a class action, plaintiffs represent approximately 10,000 persons who purchased Control Data Corporation stock between January 7 and August 6, 1985. The complaint alleges that Control Data, its officers, and auditor (Peat Marwick) disseminated information misrepresenting the financial health of the company in violation of Section 10(b) of the Securities and Exchange Act of 1934 (Rule 10b-5). The district court1 directed...

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