Fickinger v. C.I. Planning Corp.
District Court, E.D. Pennsylvania
1Opinion of the Court
MEMORANDUM and ORDER
SHAPIRO, District Judge.
I. Facts and Procedural History
Plaintiff, on behalf of a class of selling shareholders, brought this action alleging violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, 15 U.S.C. §§ 78j(b) and 78t(a) (the “Act”), and Pennsylvania common law, to recover damages for misrepresentations depreciating the financial condition of C.I. Realty Investors, a real estate investment trust (the “Trust”), and keeping the market price of its shares artificially low. On May 19, 1986, a hearing in accordance with Fed.R.Civ.P. 23(e) was held…
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