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IN RE WORLDCOM
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
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
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
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,
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.
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