IN RE PHILIP SERVICES CORP. SECURITIES LITIGATION

Nos. M-21-77, 98 CIV. 835(MBM), MDL 1230(MBM).

49 F.Supp.2d 629 (1999)

In re: PHILIP SERVICES CORPORATION SECURITIES LITIGATION. Robert W. Hillger, on behalf of himself and all others similarly situated, Plaintiff, v. Philip Services Corporation, Allen Fracassi, Marvin Boughton, and Robert Waxman, Defendants.

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

Opinion Denying Reconsideration and Granting Motion to Amend in Part June 17, 1999.


Attorney(s) appearing for the Case

Neil L. Selinger, Jeanne F. D'Esposito, Lowey Dannenberg Bemporad & Selinger, P.C., White Plains, NY, Co-Lead Counsel for Plaintiffs.

Jeffrey C. Block, Michael T. Matraia, Berman DeValerio & Pease, LLP, Boston, MA, Co-Lead Counsel for Plaintiffs.

Samuel Kadet, James W. Brown, Skadden, Arps, Slate, Meagher & Flom, LLP, New York City, for Defendant Philip Services Corp.

Gerald A. Novack, David S. Versfelt, Kirkpatrick & Lockhart, LLP, New York City, for Defendants Allen Fracassi, Philip Fracassi, Marvin Boughton, Colin Soule and John Woodcroft.

Stuart L. Shapiro, Michael I. Allen, Shapiro Forman & Allen, LLP, New York City, for Defendants Roy Cairns, Derrick Rolfe, Felix Pardo and Herman Turkstra.

Frederick P. Schaffer, Schulte Roth & Zabel, LLP, New York City, for Defendant Norman Foster.

James Serota, Vinson & Elkins, LLP, New York City, Co-Counsel for Defendant William E. Haynes.

Charles W. Schwartz, Vinson & Elkins, LLP, Houston, TX, Co-Counsel for Defendant William E. Haynes.

Craig R. Smyser, Larry K. Veselka, Asim Bhansali, Smyser Kaplan & Veselka, LLP, Houston, TX, for Defendant Robert L. Knauss.

John R. Behrendt, Robert F. Serio, Marshall R. King, Gibson Dunn & Crutcher, New York City, for Defendant Deloitte & Touche.

Brad S. Karp, Michael E. Gertzman, Paul, Weiss, Rifkind, Wharton & Garrison, New York City, for the Underwriter Defendants.

J. Lawrence Crocker, Slotnick, Shapiro & Crocker, LLP, New York City, for Defendant Robert Waxman.


OPINION AND ORDER

MUKASEY, District Judge.

In this consolidated class action, plaintiffs sue Philip Services Corporation ("PSC"), several of its current and former officers and directors, 17 underwriters (the "Underwriter Defendants") and Deloitte & Touche ("Deloitte"), alleging violations of several federal securities laws. Defendants move to dismiss plaintiffs' Consolidated and Amended Class Action Complaint (the "complaint") on forum non conveniens...

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