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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); RAILWAYS PENSION TRUSTEE COMPANY LTD., Plaintiff, -v- SALOMON SMITH BARNEY, INC., et al., Defendants

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

ORDER

Railways Pension Trustee Company Ltd. ("Railways") filed this action of February 5, 2003, alleging a single claim pursuant to the Securities Act of 1933 ("Securities Act"). Railways amended its complaint on July 11, to add additional Securities Act claims, to name additional defendants to the complaint's Securities Act claims, and to add claims under state law and under the Securities Exchange Act of 1934. Defendants have moved to dismiss the Securities Act claims brought against the defendants added through the July 11 amendment.

A November 21 Opinion in this Securities Litigation addressed in the context of a single individual action the statute of limitations that applied to the Securities Act claims in that action, and described the law that would permit an amendment to add defendants to relate back to a timely filed Page 2 pleading. In re WorldCom, Inc. Sec. Litig., No. 02 Civ. 3288 (DLC), 2003 WL 22738546 (S.D.N.Y. Nov. 21, 2003)("Nov. 21 Opinion"). Railways was required to show why the November 21 Opinion did not require the defendants' motion to be granted. Railways concedes that the November 21 Opinion requires that the Securities Act claims brought against defendants added through the July 11 amendment be dismissed as time barred. Accordingly, it is hereby

  ORDERED that the Securities Act claims brought against the defendants added to this action through the amendment of July 11, 2003 are dismissed with prejudice from the action.

  SO ORDERED. Page 1

20040120

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