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IN RE JIFFY LUBE SECURITIES LITIGATION

Civ. A. No. Y-89-1939.

772 F.Supp. 890 (1991)

In re JIFFY LUBE SECURITIES LITIGATION.

United States District Court, D. Maryland.

September 13, 1991.

Attorney(s) appearing for the Case

John Isbister, Baltimore, Md., Bruce E. Gerstein, New York City, and Steven J. Toll, Washington, D.C., for plaintiffs.

Wilbur D. Preston, Jr. and Fenton L. Martin, Baltimore, Md., for defendant Ernst & Young.

Charles S. Fax, Baltimore, Md., for defendant Shearson Lehman Hutton, Inc.

John Henry Lewin, Jr., Baltimore, Md., for defendant Jiffy Lube Intern., Inc.

Joseph D. Cheavens, Houston, Tex., for Pennzoil Co.

MEMORANDUM

JOSEPH H. YOUNG, Senior District Judge.

In re Jiffy Lube Securities Litigation, 927 F.2d 155 (4th Cir.1991), directed the Court to specify the method of setoff as it pertains to Ernst & Young prior to trial and not postpone a decision until the case is resolved. The three alternative methods of setoff are:

(1) Pro tanto, in which the judgment is reduced by the amount paid by the settling...

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