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IN RE WORLDCOM

United States District Court, S.D. New York


January 20, 2004.

IN RE WORLDCOM, INC. SECURITIES LITIGATION, This Document Relates to: 02 Civ. 3288 (DLC); SUNTRUST BANK and TRUSCO CAPITAL MANAGEMENT, INC., Plaintiffs, -v- BERNARD J. EBBERS, et al., Defendants

The opinion of the court was delivered by: DENISE COTE, District Judge

ORDER

On September 16, 2002, plaintiffs SunTrust Bank and Trusco Capital Management, Inc. (collectively, "SunTrust") filed an action asserting claims arising from the collapse of WorldCom, Inc. Their complaint included Securities Act of 1933 ("Securities Act") claims based on 1997 and 1998 WorldCom Bond Offerings ("1997 and 1998 Claims"), along with other claims.

On December 2, 2003, defendants moved to dismiss SunTrust's 1997 and 1998 Claims based on the November 21 Opinion in this Securities Litigation. See In re WorldCom, Inc. Securities Liticr., No. 02 Civ. 3288 (DLC), 2003 WL 22738546 (S.D.N.Y. Nov. 21, 2003)("November 21 Opinion"). The November 21 Opinion held, among other things, that the one year/three year statute of limitations provided in the Securities Act governed the Securities Act claims in the individual WorldCom action addressed Page 2 in that opinion. SunTrust was required to, but has not shown, why the November 21 Opinion does not require the defendants' motions to be granted. SunTrust's opposition to the motion merely preserves its right to disagree with the November 21 Opinion. Accordingly, it is hereby

  ORDERED that the defendants' motions to dismiss with prejudice the 1997 and 1998 Claims, to the extent that they are pleaded in Counts I, II, III, IV, and V of SunTrust's complaint, are granted.

  SO ORDERED. Page 1

20040120

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