IN RE CENDANT CORP. DERIVATIVE ACTION LITIGATION

No. 98CV1998.

96 F.Supp.2d 394 (2000)

In re CENDANT CORPORATION DERIVATIVE ACTION LITIGATION.

United States District Court, D. New Jersey.

April 14, 2000.


Attorney(s) appearing for the Case

Bruce Gerstein Garwin, Bronzaft, Gerstein & Fisher, Barry S. Taus, Brett Cebulash, Kevin S. Landau, Garwin, Bronzaft, Gerstein & Fisher. L.L.P., New York City, Elwood S. Simon, John P. Zuccarini, Elwood S. Simon & Associates, P.C., Birmingham, MI, for Plaintiff Martin Deutch.

Carl Greenberg, Michael M. Rosenbaum, Budd, Larner, Gross, Rosenbaum, Greenberg & Sade, P.C., Short Hills, NJ, Jonathan J. Lerner, Jerome S. Hirsch, Samuel Kadet, Skadden, Arps, Slate, Meagher & Flom LLP, New York City, for Defendant Cendant Corp.

Herbert J. Stern, Stephen M. Greenberg, Joel M. Silverstein, Stern & Greenberg, Roseland, NJ, James G. Kreissman, Michael J. Chepiga, Jacob S. Putman, Sasha A. Smith, Simpson Thacher & Bartlett, New York City, for HFS Defendants.

Steven S. Radin, Sills Cummis Zuckerman Radin Tichman Epstein & Gross, Newark, NJ, Greg A. Danilow, Timothy A. Greensfelder, Weil, Gotshal & Manges LLP, New York City, Dennis J. Block, Howard R. Hawkins, Jr., Cadwalader, Wickersham & Taft, New York City, for CUC Defendants.

Richard Schaeffer, Bruce Handler, Dornbush Mensch Mandelstam & Schaeffer, LLP, New York City, for Defendant E. Kirk Shelton.

Anne M. Patterson, Riker, Danzig, Scherer, Hyland & Perretti, LLP, Morristoen, NJ, Daniel J. Beller, Brad S. Karp, Michael E. Gertzman, Jennifer L. Romer, Paul, Weiss, Rifkind, Wharton & Garrison, New York City, for Defendant Amy N. Lipton.

Kathleen H. Dooley, Shanley & Fisher, P.C., Morristown, NY, Paul C. Curnin, Simpson Thacher & Bartlett, New York City, for Defendant Bear Stearns & Co., Inc.

Donald A. Robinson, Leda Dunn Wettre, Robinson, Lapidus & Livelli, Newark, NJ, Gary P. Naftalis, Alan R. Friedman, Kramer Levin Naftalis & Frankel LLP, New York City, for Defendant Cosmo Corigliano.


Introduction

WALLS, District Judge.

Derivative action plaintiff moves for partial summary judgment against the individual defendants named in his first amended complaint under Section 11(f) of the Securities Act of 1933, 15 U.S.C. § 77k(f). Plaintiff seeks a ruling that the individual director defendants violated Section 11 and are liable to Cendant Corporation for contribution under Section 11(f) for monies (to be) paid out in the proposed class action...

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