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IN RE WORLDCOM

United States District Court, S.D. New York


February 18, 2004.

IN RE WORLDCOM, INC. SECURITIES LITIGATION, This Document Relates to: ALL ACTIONS

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

ORDER

At a conference on February 17, 2004, three issues were addressed: (1) the deadline for the production of email by the Underwriter Defendants in the Securities Litigation; (2) the appointment of a replacement liaison counsel for the defendants in the Securities Litigation; and (3) an extension of the time for the European tranche underwriter defendants (the "Euro tranche underwriters") to reply to opposition to their motion to dismiss Counts IV and V of the Corrected First Amended Complaint filed on December 1, 2003.

1. Email Production By The Underwriter Defendants

  On December 8, 2003, a conference was held in this Court in which a timetable was established regarding the email review and production on the part of the Underwriter Defendants in the Securities Litigation. On February 3, Underwriter Defendants wrote to this Court indicating that they would not be able to comply with the email production deadlines established in the December 8 conference. A February 6 letter from Lead Plaintiff requested that the Court extend the deadline for email production by the Underwriter Defendants only until February 27. Having reviewed the two aforementioned letters and for the reasons Page 2 stated on the record at a conference on February 17, it is hereby

  ORDERED that the Underwriter Defendants must substantially complete their review and production of email by April 2, 2004.

 

2. Appointment Of Replacement Liaison Counsel For The Defendants in the Securities Litigation
  On February 11, Simpson Thacher & Bartlett ("Simpson Thacher") wrote to inform the Court that the firm was in the process of withdrawing from its representation of the WorldCom Directors and certain Individual Defendants. Simpson Thacher had been serving in the capacity of Liaison Counsel for the defendants in the Securities Litigation. Skadden, Arps, Slate, Meagher, & Flom LLP ("Skadden Arps") having agreed at the February 17 conference to assume the role of Liaison Counsel for the defendants,

  IT IS FURTHER ORDERED that Skadden Arps will replace Simpson Thacher as Liaison Counsel for the defendants in the Securities Litigation.

 

3. Extension Of The Time For Euro Tranche Underwriters To Reply To Opposition To Their Motion To Dismiss Counts IV and V Of The Corrected First Amended Complaint
  Having received the February 17 letter from counsel for the Euro tranche underwriters requesting an extension of their time to reply to the opposition to their motion to dismiss Counts IV and V of the Corrected First Amended Complaint filed on December 1, 2003, and Lead Plaintiff having agreed to this request for additional time, Page 3

  IT IS FURTHER ORDERED that the Euro tranche underwriters must file a reply to the opposition to their motion to dismiss Counts IV and V of the Corrected First Amended Complaint by February 23, 2004.

  SO ORDERED.

20040218

© 1992-2004 VersusLaw Inc.



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