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MALONE v. MICRODYNE CORP.

No. 93-1781.

26 F.3d 471 (1994)

Michael F. MALONE; Seth Rosenberg, Plaintiffs-Appellants. v. MICRODYNE CORPORATION; Philip Cunningham; Christopher M. Maginniss, Defendants-Appellees.

United States Court of Appeals, Fourth Circuit.

Decided June 8, 1994.

Attorney(s) appearing for the Case

ARGUED: I. Stephen Rabin, Rabin & Garland, New York City, for appellants. David Allen Donohoe, Akin, Gump, Strauss, Hauer & Feld, L.L.P., Washington, DC, for appellees. ON BRIEF: Joseph P. Garland, Brian Murray, Rabin & Garland, New York City; Paul Kaplan, Michael L. Shor, David & Hagner, P.C., Washington, DC; Jeffrey Squire, Kaufman, Malchman, Kirby & Squire, New York City, for appellants. Clinton R. Batterton, C. Fairley Spillman, Judith E. Beach, Akin, Gump, Strauss, Hauer & Feld, L.L.P., Washington, DC, for appellees.

Before MURNAGHAN, Circuit Judge, BUTZNER, Senior Circuit Judge, and YOUNG, Senior United States District Judge for the District of Maryland, sitting by designation.

Reversed and remanded by published opinion. Judge MURNAGHAN wrote the opinion, in which Senior Judge BUTZNER and Senior Judge JOSEPH H. YOUNG joined.

OPINION

MURNAGHAN, Circuit Judge:

At the trial of this securities-fraud class action brought by purchasers of the common stock of Microdyne Corporation, the district court heard the plaintiffs' evidence and then granted judgment as a matter of law for the defendants, Microdyne Corporation and two of...

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