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HERSHFANG v. CITICORP

No. 90 Civ. 8178 (MBM).

767 F.Supp. 1251 (1991)

Stanley HERSHFANG, on behalf of himself and all others similarly situated, Plaintiff, v. CITICORP, John S. Reed and Thomas Jones, Defendant.

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

June 24, 1991.

Attorney(s) appearing for the Case

Jules Brody, Stull, Stull & Brody, and Robert I. Harwood and Andrew Davidovits, Wechsler, Skirnick, Harwood, Halebian & Feffer, New York City, for plaintiff.

Kenneth A. Caruso, Joseph T. McLaughlin and Lawrence J. Slattery, Shearman & Sterling, New York City, for defendant.

OPINION AND ORDER

MUKASEY, District Judge.

Plaintiff Hershfang, on behalf of a purported class of similarly situated shareholders, claims that newspaper reports and dividend announcements were part of a scheme devised by defendants Citicorp, John S. Reed, Citicorp's Chairman, and Thomas Jones, Citicorp's Executive Vice President, to inflate the price of Citicorp stock, in violation of § 10(b) of the Securities Exchange Act of 1934, 15 U.S.C. §...

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