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LIRETTE v. SHIVA CORP.

No. Civ.A. 97-11159-WGY.

27 F.Supp.2d 268 (1998)

Jesse P. LIRETTE, Sr., Robert W. Benzinger, Andre Kraiem, and Victor Kraiem, on behalf of themselves and all others similarly situated, Plaintiffs, v. SHIVA CORPORATION, Frank A. Ingari, Cynthia A. Deysher and David S. Cole, Defendants.

United States District Court, D. Massachusetts.

November 19, 1998.

Attorney(s) appearing for the Case

Steven Schulman, Lori G. Feldman, William C. Fredericks, Kim Elaine Miller, Milberg, Weiss, Bershad, Spechtrie & Lerach, New York City, Arnold Levin, Levin, Fishbein, Sedran & Berman, Philadelphia, PA, Barbara A. Podell, Savett, Frutkin, Podell & Ryan, P.C. Philadelphia, PA, David Bershad, Sanford P. Dumain, Milberg, Weiss, Bershad, Hynes & Lerach, New York City, Lawrence Soicher, Law Offices of Lawrence Soicher, New York City, Richard S. Schiffrin, Andrew L. Barroway, Schiffrin & Craig, Ltd, Bala Cynwyd, PA, David Jaroslawicz, Jaroslawicz & Jaros, New York City, Stuart H. Savett, Savett Frutkin Podell & Ryan, PC, Philadelphia, PA, Nancy F. Gans, Moulton & Gans, LLP, Boston, MA, Stephen Moulton, Moulton & Gans, Boston, MA, for plaintiffs.

Jeffrey S. Abraham, Milberg, Weiss, Bershad, Spechtrie & Lerach, New York City, for Consolidated plaintiffs.

William H. Paine, Jeffrey B. Rudman, James J. Nicklaus, Hale & Dorr, Boston, MA, for defendants.

David Pastor, Gilman & Pastor, Boston, MA, for Joseph Dibenidetto, movant.

MEMORANDUM AND ORDER

YOUNG, District Judge.

I. BACKGROUND

In 1995, Congress enacted legislation attempting to wrest control over securities fraud class action lawsuits from the plaintiffs' bar devoted to such litigation and confer it upon counsel for larger institutional investors. See Private Securities Litigation Reform Act ("PSLRA"), Publ L. No. 104-67 codified at 15 U.S.C. § 78u-4 (1995).1 Such...

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