In re WESTINGHOUSE SECURITIES LITIGATION.
Margaret Alessi, Gloria Bertinato, Michael C. Christner, Anna Marie Eroshevich, Toby Feuer, Kanwal K. Gupta, M.D., Matthew Harlib, Stanley Hershfang, Arnold M. Jacob, Louise Jacob, David Jaroslawicz, David Kirschner, Nathan Kleinhandler, Gerry Krim, Peter Lagorio, Nelson Lovins, Donald McLennan, Jacob Joseph Miller, Dr. Alexander Miller, Thomas Mitchell, Edward Murabito, Michael E. Nogay, Joseph Raschak, Richard Schwartzchild, Dr. Michael Slavin, Dr. Michael Solomon, Selma Solomon, Spring Creek Cardiomedical Center, Ruth Stepak, Jim Thompson, Patricia J. Vanartsdalen, Albert Zucker, Appellants.
United States Court of Appeals, Third Circuit.https://leagle.com/images/logo.png
Argued November 2, 1995.
Decided July 18, 1996.
Attorney(s) appearing for the Case
Arthur N. Abbey (argued), Joshua N. Rubin, Abbey & Ellis, New York City, Jules Brody, Melissa R. Emert, Stull, Stull & Brody, New York City, Howard A. Specter, David J. Manogue, Specter Law Offices, P.C. Pittsburgh, PA, Jeffrey W. Golan, Gerald J. Rodos, Barrack, Rodos & Bacine, Philadelphia, PA, Richard A. Finberg, Malakoff, Doyle & Finberg, P.C., Pittsburgh, PA, Donald P. Alexander, Greenfield & Rifkin, Haverford, PA, for Appellants.
Robert E. Zimet (argued), Joseph Guglielmelli, Maura B. Grinalds, Skadden, Arps, Slate, Meagher & Flom, New York City, J. Tomlinson Fort, Reed Smith Shaw & McClay, Pittsburgh, PA, for Appellees, Shearson Lehman Brothers Inc., Goldman, Sachs & Co., Lazard Freres & Co., Lehman Brothers International, Ltd., Goldman Sachs International, Ltd. and Lazard Brothers & Co., Ltd.
Dennis J. Block (argued), Stephen A. Radin, Robert F. Carangelo, Jr., Mary Lou Peters, Weil, Gotshal & Manges, New York City, Joseph A. Katarincic, Katarincic & Salmon, Pittsburgh, PA (William F. Stoll, Jr., Henry W. Ewalt, Robert L. Kaufman, Vanessa J. Brown, Westinghouse Electric Corporation Law Department, Pittsburgh, PA, of counsel), for Appellees, Robert E. Faust, Warren H. Hollinshead, Paul E. Lego, William A. Powe, Robert F. Pugliese, Theodore Stern, Westinghouse Electric Corporation, Westinghouse Financial Services, Inc. and Westinghouse Credit Corporation.
Eldon Olson, General Counsel, Rodman W. Benedict, Associate General Counsel, Price Waterhouse LLP, New York City, Frank Cicero, Jr., Robert J. Kopecky (argued), Jeffrey L. Willian, Kirkland & Ellis, Chicago, IL (Arthur J. Schwab, James D. Morton, Buchanan Ingersoll, Pittsburgh, PA, of counsel), for Appellee, Price Waterhouse LLP.
Before NYGAARD, ALITO, and SAROKIN, Circuit Judges.
United States Court of Appeals, Third Circuit.
OPINION OF THE COURT
ALITO, Circuit Judge:
This is an appeal from three orders dismissing all of the plaintiffs' claims in a consolidated class action securities fraud complaint. The orders were based on Federal Rules of Civil Procedure 8, 9(b), and 12(b)(6). We affirm in part, reverse in part, and remand for further proceedings.
I.
A. Plaintiffs in this case are all purchasers of publicly traded Westinghouse Electric Corporation ("Westinghouse...
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