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BARON v. SMITH

No. CIV.A.02-11189GAO.

285 F.Supp.2d 96 (2003)

John BARON, Alan Laites, and Jewish Foundation for Education of Women, Plaintiffs v. Richard A. SMITH, Peter C. Read, Francis E. Sutherby and G. Gail Edwards, Defendants

United States District Court, D. Massachusetts.

September 30, 2003.

Attorney(s) appearing for the Case

Gus P. Coldebella, Esq., Stuart M. Glass, Esq., Richard A. Oetheimer, Esq., Goodwin Procter, LLP, Boston, for Francis E. Sutherby, Peter C. Read, G. Gail Edwards, Defendants.

Theodore M. Hess-Mahan, Shapiro Haber & Urmy LLP, Boston, for Jewish Foundation for Education of Women, Alan Laites, John Baron, Plaintiffs.

David P. Kowal, Esq., Richard J. Rosenweig, Esq., Thomas J. Sartory, Esq., Goulston & Storrs, PC, Boston, for Richard A. Smith, Defendant.

MEMORANDUM AND ORDER

O'TOOLE, District Judge.

This securities fraud class action suit is brought by shareholders in GC Companies, Inc. ("GCX" or the "Company"). The plaintiffs claim that they were led by the defendants to believe that GCX would use the bankruptcy process to reorganize into a leaner, more competitive company, but the actual outcome of the bankruptcy was quite different. Although the company's creditors were paid something on their...

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