In re Columbia Securities Litigation

SAND, District Judge.

This consolidated securities fraud action arises out of the September 1989 acquisition of Columbia Pictures Entertainment, Inc. (“Columbia”) by Sony USA, Inc. (“Sony USA”), a wholly owned subsidiary of the Sony Corporation (“Sony Japan”; referred to herein, collectively with Sony USA, as “Sony”). Plaintiffs are former stockholders of Columbia who seek to maintain a class action on behalf of all persons who sold shares of Columbia common stock or call options between March 27 and September 23, 1989 (the “Class Period”), a period immediately preceding Sony USA’s acquisition…