ALBERT FADEM TRUST v. DUKE ENERGY CORP.

No. 02 Civ. 3960(JSR), 02 Civ. 4084(JSR), 02 Civ. 4340(JSR), 02 Civ. 4514(JSR), 02 Civ. 4693(JSR), 02 Civ. 4916(JSR), 02 Civ. 4949(JSR), 02 Civ. 5023(JSR), 02 Civ. 5055(JSR), 02 Civ. 5197(JSR), 02 Civ. 5529(JSR), 02 Civ. 5711(JSR).

214 F.Supp.2d 341 (2002)

The ALBERT FADEM TRUST, Plaintiff, v. DUKE ENERGY CORPORATION, Richard Priory, Robert Brace, William Coley, Fred Fowler, Harvey Padewer and Deloitte & Touche, LLP, Defendants. Wickerware, Inc. Profit Sharing Plan, Individually and On Behalf of All Others Similarly Situated, Plaintiff, v. Duke Energy Corporation, Richard Priory, Robert Brace, David Hauser, Keith G. Butler, Sandra P. Meyer, Jeffrey L. Boyer, and Richard J. Osborne, Defendants. Barry Family, LP, Individually and On Behalf of All Others Similarly Situated, Plaintiff, v. Duke Energy Corporation, Richard Priory, Robert Brace, David Hauser, Keith G. Butler, Sandra P. Meyer, Jeffrey L. Boyer, and Richard J. Osborne, Defendants. Donald Goldstein, Individually and On Behalf of All Others Similarly Situated, Plaintiff, v. Duke Energy Corporation, Richard Priory, Robert Brace, David Hauser, Keith G. Butler, Sandra P. Meyer, Jeffrey L. Boyer, and Richard J. Osborne, Defendants. David L. Boushey, Individually and On Behalf of All Others Similarly Situated, Plaintiff, v. Duke Energy Corporation, Richard Priory, Robert Brace, David Hauser, Keith G. Butler, Sandra P. Meyer, Jeffrey L. Boyer, and Richard J. Osborne, Defendants. Margie Elstein, Individually and On Behalf of All Others Similarly Situated, Plaintiff, v. Duke Energy Corporation, Richard Priory, Robert Brace, David Hauser, Keith G. Butler, Sandra P. Meyer, Jeffrey L. Boyer, and Richard J. Osborne, Defendants. Sandra Finkel, Individually and On Behalf of All Others Similarly Situated, Plaintiff, v. Duke Energy Corporation, Richard Priory, Robert Brace, David Hauser, Keith G. Butler, Sandra P. Meyer, Jeffrey L. Boyer, and Richard J. Osborne, Defendants. J.B. Pozner Trust, Individually and On Behalf of All Others Similarly Situated, Plaintiff, v. Duke Energy Corporation, Richard Priory, Robert Brace, David Hauser, Keith G. Butler, Sandra P. Meyer, Jeffrey L. Boyer, and Richard J. Osborne, Defendants. Alan Kushner, Individually and On Behalf of All Others Similarly Situated, Plaintiff, v. Duke Energy Corporation, Richard Priory, Robert Brace, David Hauser, Keith G. Butler, Sandra P. Meyer, Jeffrey L. Boyer, and Richard J. Osborne, Defendants. Henry Willet, Individually and On Behalf of All Others Similarly Situated, Plaintiff, v. Duke Energy Corporation, Richard Priory, Robert Brace, David Hauser, Keith G. Butler, Sandra P. Meyer, Jeffrey L. Boyer, and Richard J. Osborne, Defendants. Elliot S. Honig, Individually and On Behalf of All Others Similarly Situated, Plaintiff, v. Duke Energy Corporation, Richard Priory, Robert Brace, William Coley, Fred Fowler, Harvey Padewer, and Deloitte & Touche, LLP, Defendants. Mikel Kinser and Franklin and Lucille Richardson, Individually and On Behalf of All Others Similarly Situated, Plaintiff, v. Duke Energy Corporation, Robert Brace, William Coley, Fred Fowler, Harvey Padewer, Deloitte & Touche, LLP, Morgan Stanley & Co., Inc., Merrill Lynch, Pierce, Fenner & Smith, Inc., Banc of America Securities, LLC, Credit Suisse First Boston Corp., Goldman Sachs & Co., J.P. Morgan Securities, Inc., and UBS Warburg, LLC, Defendants.

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

July 29, 2002.


Attorney(s) appearing for the Case

Victor Stewart, Christopher Lovell, Christopher J. Gray, Lovell & Stewart, LLP, New York City, for Albert Fadem Trust.

David Rosenfeld, Milberg, Weiss, Bershad, Hynes & Lerach, LLP, New York City, Michael Yarnoff, Schiffrin & Barroway, LLP, Bala Cynwyd, PA, for Wickerware, Inc. Profit Sharing Plan.

Nancy Kaboolian, Abbey Gardy, LLP, New York City, for Barry Family and Henry Willet.

David Goldsmith, Goodkind, Labaton, Rudoff & Sucharow, LLP, New York City, for Donald Goldstein.

David Rosenfeld, Steven G. Schulman, Milberg, Weiss, Bershad, Hynes & Lerach, LLP, New York City, for David L. Boushey.

Eric Belfi, Brian Philip Murray, Rabin & Peckel, LLP, New York City, for Sandra Finkel.

Fred Taylor Isquith, Wolf, Hardstein, Adler, Freeman & Herz, LLP, New York City, for J.B. Pozner Trust.

Mel Lifshitz, Berstein, Liebhard & Lifshitz, LLP, New York City, for Elliot Honig.

Christopher Lovell, Christopher J. Gray, Lovell & Stewart, LLP, New York City, for Mikel Kinser.

Howard Schiffman, Dickstein, Shapiro, Morin & Oshinsky, LLP, Washington, DC, for Defendants.

Michael P. Carroll, Amelia T.R. Starr, Davis, Polk & Wardwell, New York City, for Deloitte & Touche.


MEMORANDUM ORDER

RAKOFF, District Judge.

As of July 26, 2002, no fewer than twelve federal securities actions have been filed in the Southern District of New York (and consolidated before this Court) against Duke Energy Corporation (a North Carolina corporation with its principal place of business in Charlotte), several of its officers and directors, its outside auditors Deloitte & Touche, LLP, and certain underwriters of recent offerings of Duke...

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