In Re Equity Funding Corp. of America Securities Litigation

JOHN MINOR WISDOM, Judge of the Panel

(with whom

EDWARD *1392WEINFELD and STANLEY A. WEI-GEL, Judges of the Panel, join, dissenting) :

I respectfully dissent.

“The objective of the legislation [28 U.S.C. § 1407] is to provide centralized management under court supervision of pretrial proceedings of multidistrict litigation to assure the ‘just and efficient conduct’ of such actions. . . . It is expected that such transfer is to be ordered only where significant economy and efficiency in judicial administration may be obtained.”1 (Emphasis added.) H. R.Rep. No. 1130, 90th Cong.2d Sess. 2, 3 (1968)…