In Re Gap Stores Securities Litigation

MEMORANDUM OF OPINION AND ORDER

SPENCER WILLIAMS, District Judge.

The thirteen cases involved in this multidistrict securities litigation are before the court on a motion for summary judgment brought by defendant George E. Powell, formerly Vice-President-Distribution of the Gap Stores, Inc. After careful consideration of the briefs and arguments of counsel and the evidence submitted in connection therewith, the court finds that, viewing the evidence and the inferences which may be drawn therefrom in the light most favorable to plaintiffs, the defendant is clearly entitled to prevail as a matter…