IN THE UNITED STATES DISTRICT COURT
FOR THE EASTERN DISTRICT OF PENNSYLVANIA
DESMOND LOWREY, On Behalf of
Himself and All Others Similarly Situated,
TOLL BROTHERS, INC., et al.,
MEMORANDUM AND ORDER
Page 1 of 7
Currently before this court is The City of Hialeah Employees' Retirement System and the
Laborers Pension Trust Fund for Northern California's ("Movant") unopposed Motion for
appointment as Lead Plaintiff and for approval of Lead Plaintiff's selection of Co-Lead Counsel.
For the following reasons, it is hereby ORDERED that this motion is GRANTED.
Plaintiff Desmond Lowrey, on behalf of himself and all purchasers of Defendant Toll
Brothers , Inc. ("Toll Brothers") common stock between December 9, 2004 and November 8,
2005, instituted this putative securities class action against Defendants Toll Brothers , Bruce E.
Toll, CEO and Chairman of Toll Brothers, and Robert I. Toll, Vice Chairman of Toll Brothers,
on April 17, 2007 , pursuant to § 10(b) and 20(a) of the Securities Exchange Act of 1934
("SEA"), 15 U.S.C. §§ 78j(b) and 78t(a) and Securities and Exchange Commission ("SEC") Rule
I Ob-5 promulgated thereunder , 17 C.F.R. § 240.10b-5. Plaintiff alleges that the defendants made
a series of false and misleading statements which caused class members to purchase stock at
artificially inflated prices and to suffer damages when the price of Toll Brothers' stock dropped.
(Pl.'s Compl. ¶ 1.)
Page 1 of 7
Page 2 of 7
The motion for appointment as lead plaintiff in the above-captioned matter is brought
under the Private Securities Litigation Reform Act of 1995 (PSLRA), 15 U.S.C. § 78u-4 (1997).
The PSLRA contains several requirements that a putative class member must meet before the
court can appoint that plaintiff as lead plaintiff. First, within 20 days of the filing of the
complaint initiating the suit, the plaintiff shall publis