Aronson

ORDER

The court heard several motions to consolidate, appoint lead plaintiff, and approve selection of lead counsel in this securities class action on October 29, 1999. The court has read the moving and responding papers and heard the argument of counsel. For the reasons set forth below, the court grants the motion to consolidate all actions except Cohen, and defers consideration of the lead plaintiff and lead counsel motions until it has received further submissions from the New York City Pension Funds and the New York State Common Retirement Fund.

I. BACKGROUND

Presently before the court are at least fifty-four related class action complaints against McKesson HBOC, Inc. (McKes-son), and various of its executives. Plaintiffs in twelve of these suits now move to consolidate the actions (though they disagree on the extent of consolidation), and each of these twelve plaintiffs (most of whom are actually plaintiff “groups”) moves to be appointed lead plaintiff — and, of course, to have its counsel appointed lead counsel.

This litigation began with a press release that McKesson issued shortly before markets opened on April 28, 1999. The press release announced that McKesson would…