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PITTEN v. JACOBS

Civ. A. Nos. 3:94-2544-0, 3:94-2545-0.

903 F.Supp. 937 (1995)

Leonard PITTEN, on behalf of himself and all others similarly situated, Plaintiff, v. Henry D. JACOBS, Jr. and One Price Clothing Stores, Inc., Defendants. Kathrine HOGAN, on behalf of herself and all others similarly situated, Plaintiff, v. Henry D. JACOBS, Jr. and One Price Clothing Stores, Inc., Defendants.

United States District Court, D. South Carolina, Columbia Division.

July 6, 1995.

Attorney(s) appearing for the Case

Ness, Motley, Loadholt, Richardson & Poole, Terry E. Richardson, Jr., Kimberly S. Vroon, Barnwell, SC, Kaplan, Kilsheimer & Fox, Frederic S. Fox, Laurence D. King, New York City, Law Offices of Richard Vita, Richard Vita, Boston, MA, Berman, DeValerio & Pease, Peter A. Pease, Michael G. Lange, Boston, MA, for Plaintiffs Leonard Pitten and Kathrine Hogan.

Wyche, Burgess, Freeman & Parham, P.A., David L. Freeman, J. Theodore Gentry, Greenville, SC, Skadden, Arps, Slate, Meagher & Flom, Jay B. Kasner, New York City, for Defendants One Price Clothing Stores, Inc. and Henry Jacobs.

OPINION AND ORDER

PERRY, District Judge.

The plaintiffs in this action seek to represent a subset of the owners of the common stock of One Price Clothing Stores, Inc. ("One Price").1 The plaintiffs seek recovery from One Price and its Chairman and CEO, Henry Jacobs, on the basis of two statements that plaintiffs claim were false and misleading. The plaintiffs' Complaint2 asserts both federal...

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