BURKE v. RUTTENBERG

Nos. CV99-BU-3097-S, CV99-BU-3129-S.

102 F.Supp.2d 1280 (2000)

Peter H. BURKE et al., on behalf of themselves and all others similarly situated, Plaintiffs, v. Harold RUTTENBERG, et al., Defendants. George W. Massey, on behalf of himself and all others similarly situated, Plaintiff, v. Harold Ruttenberg, et al., Defendants.

United States District Court, N.D. Alabama, Southern Division.

April 7, 2000.


Attorney(s) appearing for the Case

Thomas L Krebs, J Michael Rediker, Patricia Diak, Ritchie & Rediker LLC, Birmingham, AL, Vincent F Kilborn, III, Kilborn & Roebuck, Mobile, AL, John W Haley, Bruce J McKee, Hare Wynn Newell & Newton, Birmingham, AL, David A McDonald, Mobile, AL, for Peter H Burke, Gregory L Horn, Jerome H Fiorella, Jerry B Schilleci, Sound Deals, Inc., plaintiffs.

Thomas L Krebs, J Michael Rediker, Patricia Diak, Ritchie & Rediker LLC, Birmingham, AL, Vincent F Kilborn, III, Kilborn & Roebuck, Mobile, AL, John W Haley, Bruce J McKee, Hare Wynn Newell & Newton, Birmingham, AL, David A McDonald, Mobile, AL, Stuart M Grant, Grant & Eisenhofer PA, Wilmington, DE, for Wisconsin Investment Board, State of, plaintiff.

Thomas L Krebs, Ritchie & Rediker LLC, Birmingham, AL, M Clay Ragsdale, IV, M Clay Ragsdale PC, Birmingham, AL, Samuel H Rudman, Milberg Weiss Bershad Hynes & Lerach LLP, New York City, Stuart M Grant, Grant & Eisenhofer PA, Wilmington, DE, for Kenneth Bush, Edward Eubank, John Michael, plaintiff.

M Clay Ragsdale, IV, M Clay Ragsdale PC, Birmingham, AL, Samuel H Rudman, Milberg Weiss Bershad Hynes & Lerach LLP, New York City, for Louise Bush, plaintiff.

N Lee Cooper, Luther M Dorr, Jr, Maynard Cooper & Gale, Birmingham, AL, Jason M Halper, Dennis J Block, Cadwalader Wickersham & Taft, New York City, for Harold Ruttenberg, Don-Allen Ruttenberg, defendants.

N Lee Cooper, Luther M Dorr, Jr, Maynard Cooper & Gale, Birmingham, AL, David C Newman, Smith Gambrell & Russell, Atlanta, GA, Jason M Halper, Dennis J Block, Cadwalader Wickersham & Taft, New York City, for Eric L Tyra, Peter Berman, Cooper Evans, Patrick Lloyd, defendants.

N Lee Cooper, Luther M Dorr, Jr, Maynard Cooper & Gale, Birmingham, AL, James W Gewin, Joseph B Mays, Jr, Dylan C Black, Bradley Arant Rose & White, Birmingham, AL, Jason M Halper, Dennis J Block, Cadwalader Wickersham & Taft, New York City, John B Missing, Andrew M Herscowitz, Mandy Jones, Brobeck Phleger and Harrison, Washington, DC, for Michael P Lazarus, Randall L Haines, Bart Starr, Sr, defendants.

N Lee Cooper, Luther M Dorr, Jr, Maynard Cooper & Gale, Birmingham, AL, James W Gewin, Joseph B Mays, Jr, Dylan C Black, Bradley Arant Rose & White, Birmingham, AL, James R Carroll, George J Skelly, Skadden Arps Slate Meagher & Flom LLP, Boston, MA, Jason M Halper, Dennis J Block, Cadwalader Wickersham & Taft, New York City, John B Missing, Andrew M Herscowitz, Brobeck Phleger and Harrison, Washington, DC, for David F Bellet, Edward S Croft, III, Warren C Smith, Jr, John A Berg, defendants.

N Lee Cooper, Luther M Dorr, Jr, Maynard Cooper & Gale, Birmingham, AL, Jason M Halper, Dennis J Block, Cadwalader Wickersham & Taft, New York City, Paul A Straus, Michael J Malone, Battle Fowler, New York City, for Helen Rockey, defendant.

Michael L Edwards, Lee H Zell, Balch & Bingham LLP, Birmingham, AL, Jason M Halper, Dennis J Block, Cadwalader Wickersham & Taft, New York City, Michael R Young, Antonio Jr Yanez, Willkie Farr & Gallagher, New York City, for Deloitte & Touche LLP, defendant.

Michael L Edwards, Lee H Zell, Balch & Bingham LLP, Birmingham, AL, N Lee Cooper, Luther M Dorr, Jr, Maynard Cooper & Gale, Birmingham, AL, Jason M Halper, Dennis J Block, Cadwalader Wickersham & Taft, New York City, Antonio Jr Yanez, Willkie Farr & Gallagher, New York City, for Steven H Barry, Karen Baker, defendant.

David C Newman, M Clay Ragsdale, IV, M Clay Ragsdale PC, Birmingham, AL, Samuel H Rudman, Milberg Weiss Bershad Hynes & Lerach LLP, New York City, William S Lerach, Travis E Downs, III, Amber L Eck, Milberg Weiss Bershad Hynes & Lerach LLP, San Diego, CA, Steven E Cauley, Cauley & Geller, Little Rock, AR, for Just for Feet Plaintiffs Group, movant.

William T Stephens, Retirement Systems of Alabama, Montgomery, AL, for Retirement Systems of Alabama, movant.

James L North, James L North & Associates, Birmingham, AL, for Florida State Board of Administration, movant.

Thomas L Krebs, J Michael Rediker, Patricia Diak, Ritchie & Rediker LLC, Birmingham, AL, for Public Employees Retirement Systems of Ohio, movant.


Memorandum Opinion

BUTTRAM, District Judge.

The present consolidated actions involve claims of securities fraud in the purchase and sale of common stock of Just for Feet, Inc., ("Just for Feet" or "Feet") proscribed by section 10(b) of the Securities Exchange Act (the "Exchange Act"), 15 U.S.C. § 78j(b) and Rule 10b-5 promulgated thereunder by the Securities and Exchange Commission ("SEC"), 17 C.F.R....

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