In Re Pennsylvania Life Co. Securities Litigation

OPINION AND ORDER

All actions in this litigation allege violations of various federal securities laws involving the sale of Pennsylvania Life Co. (PLC) securities. Except the Benyas action in the Eastern District of Michigan, 1 each action appears to focus primarily upon the alleged failure of PLC’s directors and officers to divulge material information to the investing public concerning the nature and extent of various business dealings between PLC and the Equity Funding Corporation of America (EFCA), including their respective subsidiaries. These business transactions are alleged to have had…