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IN RE WORLDCOM INC. SECURITIES LITIGATION

United States District Court, S.D. New York


January 30, 2004.

IN RE WORLDCOM, INC. SECURITIES LITIGATION, This Document Relates to: 02 Civ. 3288 (DLC); METROPOLITAN GOVERNMENT OF NASHVILLE & DAVIDSON COUNTY, Plaintiff -v- BERNARD J. EBBERS, et al., Defendants

The opinion of the court was delivered by: DENISE COTE, District Judge Page 2

MEMORANDUM OPINION AND ORDER

[EDITORS' NOTE: THIS PAGE CONTAINED ATTORNEYS' NAMES] Page 3

  On December 15, 2003, plaintiff the Metropolitan Government of Nashville and Davidson County, Tennessee ("Nashville") served a motion to dismiss its complaint voluntarily pursuant to Rule 41(a), Fed.R. Civ. P., on the condition that it be permitted to participate in the securities class action arising out of the collapse of WorldCom, Inc. ("WorldCom"). The motion is opposed by defendants, but supported by Lead Plaintiff for the WorldCom class action. For tie reasons stated in the Opinion and Order issued by this Court on January 26, 2004, to resolve a parallel motion brought on behalf of six actions filed by Milberg Weiss Bershad Hynes & Leracn, the motion is granted with the following condition — plaintiff may not opt out of the class or seek in any way to continue its Individual Action.*fn1

  Nashville filed this action in the United States District Court of the Middle District of Tennessee on August 15, 2003, alleging violations of the Securities Act of 1933 ("Securities Act") and of the Securities Exchange Act of 1934. Defendants moved to dismiss certain claims in this action on December 2, and a scheduling order of January 20, 2004 requires Nashville to Page 4 submit their opposition to the motion to dismiss by January 23, 2004.*fn2

  Meanwhile, on December 15, Nashville served a motion for a voluntary dismissal of its action. Nashville principally argues that it is entitled to dismissal pursuant to Rule 41(a)(2), Fed.R.Civ.P. Nashville requests an opportunity to voluntarily dismiss its action in order to permit it to join the WorldCom class action. According to its counsel, Nashville requests the right to "participate in the class fully, and without prejudice to any of its rights, as if it had not filed its Individual Action" and agrees that it will not opt out of the class".

  The defendants have not shown that this dismissal should be conditioned on the payment of fees and costs. Their request for such an award is therefore denied.

  Conclusion

  The motion by the Metropolitan Government of Nashville and Davidson County to dismiss its action voluntarily pursuant to Rule 41(a) conditioned on it remaining a member of the WorldCom securities class action, is granted.

  SO ORDERED.


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