Pension Fund Best Positioned To Be Lead Plaintiff in Securities Fraud Class Suit

Class Action Dismissed; Executives Statements Were General and Not Customer-Specific

Court appointed single-firm structure for interim class counsel where risks of increased costs and difficulty in managing multi-firm structure outweighed any benefits multi-firm structure had in effectively serving prospective class. Plaintiffs application to appoint interim class counsel granted.

Although proxy failed to disclose identity of selling companys key negotiators, stockholders challenge to tender offer and merger transaction dismissed for failure to plead non-exculpated claims against co-founders and directors, where there was no evidence that majority of board and tendering stockholders were interested or non-independent.

Submitting disputes to sole authority and exclusive jurisdiction of neutral party indicated parties intent to submit to arbitration, and designated neutral with conflicts of interest had authority to rule on procedural matters of appointing alternate arbiter.