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IN RE SAFETY COMPONENTS, INC. SECURITIES LIT.

No. CIV. A. 00-0082(AJL).

166 F.Supp.2d 72 (2001)

In re SAFETY COMPONENTS, INC. SECURITIES LITIGATION.

United States District Court, D. New Jersey.

September 27, 2001.

Attorney(s) appearing for the Case

Keith M. Fleischmann, Milberg Weiss Bershad, Hynes & Lerach LLP, New York, NY, Robert J. Berg, Bernstein Liebhard & Lifshitz, LLP, Fort Lee, NJ, Samuel B. Sporn, Shoengold & Sporn, P.C., New York, NY, Paul Geller, Shepard & Geller L.L.C., Boca Raton, FL, Jules Brody, Stull Stull & Brody, New York, NY, Leo Desmond, The Desmond Law Firm, Palm Beach, FL, Joseph H. Weiss, Weiss & Yourman, New York, NY, Brian Murray, Rabin & Peckel, New York, NY, Lionel Z. Glancy, The Law Offices of Lionel Z. Glancy, Los Angeles, CA, for plaintiffs.

Michael R. Young, Willkie Farr & Gallagher, New York, NY, William B. McGuire, Tompkins, McGuire, Wachenfeld & Barry, Newark, NJ, for Defendants Safety Components International, Inc., George D. Papadopoulos, Jeffrey Kaplan, and Francis X. Suozzi.

Lanny J. Davis, Patton Boggs LLP, Washington, DC, for Robert A. Zummo.

Sallie G. Smylie, Kirkland & Ellis, Chicago, IL, for Arthur Andersen LLP.

OPINION

LECHNER, District Judge.

This was a consolidated class action brought on behalf of all purchasers of the common stock of Safety Components International, Inc. ("SCII") during the period 28 May 1997 to 10 April 2000, inclusive (the "Class Period") against defendants SCII, Robert A. Zummo ("Zummo"), Jeffrey J. Kaplan ("Kaplan"), George D. Papadopoulos ("Papadopoulos"), and Francis X. Suozzi ("Suozzi") (collectively, the "Defendants").

The consolidated...

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