In re Discovery Zone Securities Litigation

MEMORANDUM OPINION AND ORDER

CASTILLO, District Judge.

Now approaching its fourth anniversary, this federal securities fraud class action comes before us for decision on a third critical motion.1 Our two earlier opinions granted in part and denied in part the individual defendants’ motion to dismiss the plaintiffs’ 1934 Securities Exchange Act claims and certified a modified class of Discovery Zone (“DZ”) common stock purchasers. We must now decide whether, on the eve of settlement and after three years of contentious litigation and the considerable investment of judicial resources, McDonald’s…