IN RE WELLCARE MANAGEMENT GROUP, INC. SECURITIES LITIGATION

No. 1:96-CV-0521.

964 F.Supp. 632 (1997)

In re The WELLCARE MANAGEMENT GROUP, INC. SECURITIES LITIGATION.

United States District Court, N.D. New York.

April 30, 1997.


Attorney(s) appearing for the Case

Whiteman, Osterman Law Firm, Albany (Neil L. Levine, Leslie M. Apple, of counsel), Milberg, Weiss Law Firm, New York City (Steven G. Shulman, of counsel), for Plaintiff Ward and others similarly situated.

Bernstein, Litiwitz Law Firm, New York City (Max W. Berger, Bernstein, Litowitz, Berger & Grossman, L.L.P., of counsel), for Plaintiff Lewis Rosenberg and others similarly situated.

Pomerantz, Haudek Law Firm, New York City (Stanley M. Grossman, Pomerantz, Haudek, Block & Grossman, of counsel), for Plaintiff Baruch Singer and others similarly situated.

Cohen, Milstein Law Firm, Washington, DC (Lisa M. Mezzetti, Cohen, Milstein, Hausfeld & Toll, of counsel), for Plaintiff Bruce Murphy and others similarly situated.

Lowey, Dannenberg Law Firm, White Plains (Sherrie Brown, Lowey, Dannenberg, Bemporad & Selinger, P.C., of counsel), for Plaintiff Jonathan Wade and others similarly situated.

Barrack, Rodos Law Firm, Philadelphia, PA (Leonard Barrack, Daniel E. Bacine, of counsel), for Plaintiff Burton Weisfeld and others similarly situated.

Wechsler, Harwood Law Firm, New York City (Robert I. Harwood, Jeffrey M. Haber, of counsel), Garwin, Bronzaft Law Firm, New York City (Scott Fisher, of counsel), for Plaintiff Bernard Weber, Custodian for Daniela Weber Ugma and others similarly situated.

Epstein, Becker Law Firm, Washington, DC (Stuart M. Gerson, Epstein, Becker & Green, of counsel), Cohen, Dax Law Firm, Albany (Jeffrey C. Cohen, of counsel), for Defendant Wellcare.

Orans, Elsen & Lupert, New York City (Leslie A. Lupert, Orans, Elsen & Lupert, of counsel), for Defendant Ullman.

Shaw, Pittman Law Firm, Washington, DC (James T. Lenhart, Shaw, Pittman, Potts & Trowbridge, of counsel), for Defendant Corsones.

Dreyer, Boyajian Law Firm, Albany (William J. Dreyer, of counsel), for Defendant Deloitte & Touche.


MEMORANDUM-DECISION & ORDER

McAVOY, Chief Judge.

I. BACKGROUND

Before the Court are two motions to dismiss the plaintiffs'1 Amended Complaint pursuant to Fed.R.Civ.P. 9(b), Fed.R.Civ.P. 12(b)(6), and 15 U.S.C. § 78u-4,2 brought separately by (1) the defendants WELLCARE MANAGEMENT GROUP, EDWARD A. ULLMAN, and MARYSTEPHANIE CORSONES, the respective former president and present chief...

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