Attorney(s) appearing for the Case
Jeffrey W. Golan (argued), Leonard Barrack, Gerald J. Rodos, Robert A. Hoffman, Barrack, Rodos & Bacine, Philadelphia, PA, David J. Bershad, Sharon Levine Mirsky, Edith M. Kallas, Milberg Weiss Bershad Hynes & Lerach, LLP, New York City, Howard D. Finkelstein, Finkelstein & Associates, San Diego, CA, Alfred G. Yates, Jr., Alfred G. Yates, Jr. & Associates, Pittsburgh, PA, for Appellants.
Robert A. Alessi (argued), Cahill Gordon & Reindel, New York City, John L. Thurman, Mason, Griffin & Pierson, P.C., Princeton, New Jersey, for Appellees.
Before: GREENBERG, ALITO, and ROTH, Circuit Judges.
United States Court of Appeals, Third Circuit.
OPINION OF THE COURT
ALITO, Circuit Judge.
Burlington Coat Factory Warehouse Corporation ("BCF "), a Delaware corporation based in New Jersey, announced its fourth quarter and full fiscal year results for 1994 on September 20, 1994. The results were below the investment community's expectations, and BCF's common stock fell sharply, losing approximately 30% in one day. Within a day of the initial announcement, the first investor suit was filed. In the next...
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