Opinion
Civil Nos. 94-5522 (RBK), 96-2318 (RBK).
June 30, 2005
ORDER
THIS MATTER having come before this Court upon (1) motion for summary judgment on all claims by defendant Arthur Andersen LLP ("Andersen"); (2) motion for summary judgment on all claims by defendants Sands Brothers Co., Steven Sands, and Martin Sands ("Sands Defendants"); and (3) motion for summary judgment on the class claims under sections 11 and 12(a)(2) of the Securities Act of 1933 by plaintiffs Harry Berger and Bernard Cutler; and the Court having considered the moving papers, and the opposition thereto; and for the reasons expressed in the Opinion issued this date;
IT IS hereby ORDERED that:
1. Andersen's motion for summary judgment is GRANTED IN PART as to the section 10/Rule 10b-5, section 11, and fraudulent misrepresentation claims; and DENIED IN PART as to the remaining state law claims; and
2. The Sands Defendants' motion for summary judgment is GRANTED IN PART as to the section 10/Rule 10b-5 and section 11 claims; and DENIED IN PART as to the section 12(a)(2) claim and the remaining state law claims; and
3. Plaintiffs' motion for partial summary judgment is DENIED.