Mobile Telecommunication Technologies Corp. v. Aetna Casualty & Surety Co.

MEMORANDUM OPINION AND ORDER

TOM S. LEE, Chief Judge.

This cause is before the court on the motion of plaintiff Mobile Telecommunication Technologies Corp. (Mtel) to dismiss the counterclaim filed by defendant Aetna Casually and Surety Company (Aetna). Aetna has responded to the motion and the court, having considered the memoranda of authorities, together with attachments, submitted by the parties, concludes that Mtel’s motion is well taken and should be granted.

Following a dramatic drop in Mtel’s stock price on January 5, 1994 on the heels of Mtel’s announcement of a substantial cut in its…