Legal Opinion
In Re Gaming Lottery Securities Litigation
District Court, S.D. New York
Decided February 23, 1999No. 96 Civ. 5567(RPP)PublishedCited by 34 opinions
1Opinion of the Court
OPINION AND ORDER
ROBERT P. PATTERSON, Jr., District Judge.
Plaintiffs, who are purchasers of Gaming Lottery Corporation (“GLC”) 1 stock allege, on behalf of a putative class, that GLC and two of its officers, Jack Banks (“Banks”) and Larry Weltman (“Welt-man”), violated Section 10(b) of the Securities and Exchange Act of 1934 (the “Exchange Act”) and Rule 10b-5 promulgated thereunder, by making materially false and misleading statements and omissions concerning GLC’s acquisition of Specialty Manufacturing Inc. (“SM”), which artifically inflated the price of GLC common stock. Banks and Weltman…
2Cases cited23 opinions
- Amchem Products, Inc. v. WindsorSupreme Court of the United States · 1997
- Eisen v. Carlisle & JacquelinSupreme Court of the United States · 1974
- Basic Inc. v. LevinsonSupreme Court of the United States · 1988
- San Leandro Emergency Medical Group Profit Sharing Plan v. Philip Morris Companies, Inc.Court of Appeals for the Second Circuit · 1996
- Sirota v. Solitron Devices, Inc.Court of Appeals for the Second Circuit · 1982
18 more not listed; retrieve them via the Exa API.
3Cited by34 opinions
- Pecarsky v. Galaxiworld.com Ltd.Court of Appeals for the Second Circuit · 2001
- In re Vivendi Universal, S.A. Securities LitigationDistrict Court, S.D. New York · 2007
- In re Oxford Health Plans, Inc.District Court, S.D. New York · 2000
- In Re the Baan Co. Securities LitigationDistrict Court, District of Columbia · 2000
- In re Initial Public Offering Securities LitigationDistrict Court, S.D. New York · 2004
29 more not listed; retrieve them via the Exa API.