IN RE CHAMBERS DEVELOPMENT SECURITIES LITIGATION

Civ. A. No. 92-0679. MDL 982.

848 F.Supp. 602 (1994)

In re CHAMBERS DEVELOPMENT SECURITIES LITIGATION. This Document Relates to: All Class Actions.

United States District Court, W.D. Pennsylvania.

February 23, 1994.


Attorney(s) appearing for the Case

Howard A. Specter, George G. Mahfood, Specter Law Offices, P.C., Pittsburgh, PA, Arthur N. Abbey, Mark C. Gardy, Joshua N. Rubin, Abbey & Ellis, Marian Rosner, Wolf Popper Ross Wolf & Jones, New York City, Stuart H. Savett, Barbara A. Podell, Savett Frutkin Podell & Ryan, P.C., Philadelphia, PA, Jerome M. Congress, Steven G. Schulman, Milberg Weiss Bershad Hynes & Lerach, New York City, Michael P. Malakoff, Richard A. Finberg, Malakoff Doyle & Finberg, Pittsburgh, PA, Barrack Rodos & Bacine, Stanley R. Wolfe, Todd S. Collins, Berger & Montague, Philadelphia, PA, Jeffrey N. Bernstein, Manhasset, NY, Bernstein Litowitz Berger & Grossman, Brager & Wexler, P.C., New York City, Daniel A. Edelman, Law Offices of Daniel A. Edelman, Chicago, IL, Arthur M. Kaplan, Donald L. Perelman, Fine, Kaplan and Black, Philadelphia, PA, Joseph Goldberg, Freedman, Boyd, Daniels, Peifer, Hollander, Guttman & Goldberg, Albuquerque, NM, Garwin Bronzaft Gerstein & Fisher, New York City, Kenneth Gilman, Gilman & Pastor, Boston, MA, E. David Margolis, Gismondi & Margolis, Pittsburgh, PA, Lawrence A. Sucharow, Jonathan M. Plasse, Emily C. Komlossy, Goodkind Labaton Rudoff & Sucharow, New York City, C. Oliver Burt, III, Burt & Pucillo, Haverford, PA, Martin E. Grossman, Bala Cynwyd, PA, Kaufman Malchman Kaufmann & Kirby, New York City, Lynn Lincoln Sarko, Keller Rohrback, Seattle, WA, Stanley D. Bernstein, Kreindler & Kreindler, Thomas A. Holman, Sam Schwartz, Lefrak Newman & Myerson, New York City, Arnold Levin, Levin Fishbein Sedran & Berman, Philadelphia, PA, Daniel C. Girard, Lieff, Cabraser & Heimann, San Francisco, CA, Richard Bemporad, Lowey Dannenberg Bemporad & Selinger, P.C., New York City, Gene I. Mesh, Gene Mesh & Associates, Cincinnati, OH, Meredith & Cohen, Philadelphia, PA, Michael J. Freed, Michael B. Hyman, Much Shelist Freed Denenberg & Ament, P.C., Chicago, IL, Alfred E. Nugent, Law Offices of Alfred E. Nugent, Boston, MA, Ostrager & Chong, New York City, Gregg M. Rosen, Sable Makaroff & Gusky, Pittsburgh, PA, Schoengold & Sporn, P.C., New York City, Harris J. Sklar, Philadelphia, PA, Law Offices of C. Crady Swisher III, C. Crady Swisher, Pittsburgh, PA, Wechsler Skirnick Harwood Halebian & Feffer, Joseph H. Weiss, Law Offices of Joseph H. Weiss, Fred Taylor Isquith, Wolf Haldenstein Adler Freeman & Herz, New York City, Alfred G. Yates, Jr. & Associates, John Thomas, Zimmer Kunz Loughren & Hart, Pittsburgh, PA, John T. Murray, Murray & Murray, Sandusky, OH, Larry Feldman, Feldman & Carlitz, Elkins Park, PA, Terrence Buehler, Susman Saunders & Buehler, Chicago, IL, for plaintiff.

William W. Wycoff, David G. Ries, Craig E. Frischman, Thorp Reed & Armstrong, Pittsburgh, PA, Leon P. Gold, Mark E. Davidson, James M. Markowski, Proskauer Rose Goetz & Mendlesohn, New York City, for Chambers Development Co. and the individual defendants.

Richard R. Nelson, II, Cohen & Grigsby, Pittsburgh, PA, for Grant Thornton.

Joseph McDonough, Manion McDonough & Lucas, P.C., Pittsburgh, PA, for Richard Knight.

David A. Brownlee, Michael J. Lynch, Kirkpatrick & Lockhart, Pittsburgh, PA, for Kidder Peabody & Co., Inc., Kidder Peabody Intern. Ltd., Dean Witter Reynolds, Inc., First Analysis Securities Corp., Swiss Bank Corp. and SBCI Swiss Bank Corp. Investment Banking, Inc.

J. Tomlinson Fort, John H. Demmler, Robert D. Anderle, Reed Smith Shaw & McClay, Pittsburgh, PA, for John M. Arthur and William E. Moffett.

Bernard D. Marcus, Robert L. Allman, II, Robert M. Barnes, Marcus & Shapiro, Pittsburgh, PA, for Michael J. Peretto.


OPINION OF THE COURT

LEE, District Judge.

Before the Court are multiple motions to dismiss plaintiffs' Amended Consolidated Class Action Complaint (Document No. 44) (the "Amended Complaint") for various reasons, including plaintiffs' purported failure to state a claim upon which relief can be granted, pursuant to Fed.R.Civ.P. 12(b)(6); plaintiffs' untimely service of the Amended Complaint upon certain defendants, pursuant to Fed.R.Civ.P. 4(j); and failure...

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