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FOOD & ALLIED SERV. TRADES v. MILLFELD TRADING

No. 92 Civ. 5316 (LBS).

841 F.Supp. 1386 (1994)

FOOD AND ALLIED SERVICE TRADES DEPARTMENT, AFL-CIO, on behalf of itself and all others similarly situated, Plaintiff, v. MILLFELD TRADING CO., INC., Barry Feldstein, Glenn Feldstein, Dale Whitney, Terren S. Peizer, and Michael Callahan, Defendants.

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

January 5, 1994.

Attorney(s) appearing for the Case

David, Anderson & Rottenberg, P.C. (Mark M. Rottenberg, of counsel), Friedman & Kaplan, New York City (Eric Seiler, Robert D. Kaplan, Laura S. Fitzgerald, of counsel), for plaintiff.

Schneck Weltman Hashmall & Mischel, New York City (Chase A. Caro, of counsel), for defendants Candies, Inc., f/k/a Millfeld Trading Co., Inc., Terren S. Peizer, and Michael Callahan.

Greenberger & Forman, New York City (Robert W. Forman, of counsel), for defendants Barry Feldstein and Dale Whitney.

Ross, Suchoff, Taroff, Egert & Hankin, P.C., New York City (Brian K. Suchoff, of counsel), for defendant Glenn Feldstein.

OPINION

SAND, District Judge.

Plaintiff Food and Allied Service Trades Department, AFL-CIO ("FAST"), brought this securities class action on behalf of itself and a class of similarly situated shareholders of defendant Millfeld Trading Co., Inc. ("Millfeld"). Millfeld is a Delaware corporation in the primary business of importing and marketing shoes; it went public in January 1990. In early 1992, the price of Millfeld stock collapsed after Millfeld disclosed...

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