Legal Opinion
In Re Penn Central Securities Litigation
District Court, E.D. Pennsylvania
Decided August 7, 1972No. M.D.L. Docket 56; Civ. A. 70-2005, 70-2010, 70-2137, 70- 2320, 70-2505, 70-2596, 70-2696, 70-2818, 70-2933, 71-265 to 71-268, 71-277, 71- 278, 71-280, 71-476, 71-971PublishedCited by 78 opinions
1Opinion of the Court
OPINION AND ORDER
JOSEPH S. LORD, III, Chief Judge.
Plaintiffs, present and former shareholders of Penn Central Company, move pursuant to F.R.Civ.P. 23 for an order declaring that the eighteen above-captioned actions may be maintained as class actions. Defendants 1 cross-petition for partial summary judgment in fourteen of the actions on the grounds that (1) the proposed class includes persons who have no cause of action under the federal securities law and (2) plaintiffs have failed to state a claim upon which relief can be granted.
Plaintiffs’ complaints assert both derivative and direct…
2Cases cited46 opinions
- Affiliated Ute Citizens of Utah v. United StatesSupreme Court of the United States · 1972
- Mills v. Electric Auto-Lite Co.Supreme Court of the United States · 1970
- J. I. Case Co. v. BorakSupreme Court of the United States · 1964
- Superintendent of Insurance of New York v. Bankers Life & Casualty Co.Supreme Court of the United States · 1971
- Securities & Exchange Commission v. National Securities, Inc.Supreme Court of the United States · 1969
41 more not listed; retrieve them via the Exa API.
3Cited by78 opinions
- Blackie v. BarrackCourt of Appeals for the Ninth Circuit · 1975
- Eisenberg v. GagnonCourt of Appeals for the Third Circuit · 1985
- Robert La Mar v. H & B Novelty & Loan Company, Ronald J. Kinsling v. Allegheny AirlinesCourt of Appeals for the Ninth Circuit · 1973
- Dura-Bilt Corp. v. Chase Manhattan Corp.District Court, S.D. New York · 1981
- International Controls Corp. v. VescoCourt of Appeals for the Second Circuit · 1974
73 more not listed; retrieve them via the Exa API.