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BRANSON v. EXIDE ELECTRONICS CORP.

625 A.2d 267 (1993)

Bernard M. BRANSON, individually and on behalf of all others similarly situated, Plaintiff Below, Appellant, v. EXIDE ELECTRONICS CORPORATION, Alex. Brown & Sons, Inc., Donaldson, Lufkin & Jenrette Securities Corporation, James A. Risher, Conrad A. Plimpton, Lance L. Knox, Donald S. Beilman, Wayne L. Clevenger, James E. Fowler, Scott M. Hand, Warren J. Sinsheimer, Randall C. MacCleary, Inco Battery Holdings Corporation, Defendants Below, Appellees.

Supreme Court of Delaware.

Decided: June 2, 1993.

Attorney(s) appearing for the Case

Pamela Tikellis and Carolyn D. Mack of Greenfield & Chimicles, Wilmington, and Daniel W. Krasner (argued), and Edward P. Dietrich of Wolf, Haldenstein, Adler, Freeman & Herz, New York City, for appellant.

R. Franklin Balotti and Anne C. Foster (argued), of Richards, Layton & Finger and Donald J. Wolfe, Jr. of Potter, Anderson & Corroon, Wilmington, and David Clarke, Jr. of Piper and Marbury, Washington, DC, for appellees.

Before HORSEY, MOORE and HOLLAND, JJ.

HOLLAND, Justice:

On May 3, 1990, the plaintiff-appellant, Bernard M. Branson ("Branson"), on behalf of himself and all others similarly situated, filed a class action complaint (the "complaint") against Exide Electronics Corporation ("Exide"), its Board of Directors (the "individual defendants"), and the underwriters of Exide's initial public offering (collectively the "defendants"). The complaint alleges that defendants violated Sections 11 and 12 of the Securities...

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