In Re Computervision Corp. Securities Litigation

MEMORANDUM AND ORDER

YOUNG, District Judge.

This is a consolidated class action on behalf of persons who purchased Computervision Corporation (“Computervision”) securities between August 14, 1992, when notes and stock were first offered, and September 29, 1992, when Computervision announced substantial third quarter losses which were later quantified at $88,100,00o. 1 After the announcement, Computervision’s stock plummeted 30% in one day to $6.25, or almost half of the initial $12 offering price. The Corrected Supplemental Consolidated Amended Complaint (“Complaint”) alleges violations of…