BAUER, Circuit Judge.
Moise Katz filed this securities fraud class action against Household International, Inc. ("Household") and its two chief officers after Household's stock price declined at the end of October 1991. See Securities Exchange Act of 1934, §§ 10(b) & 20, 15 U.S.C. §§ 78j(b) & 78t(a). This appeal involves the
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