Searching over 5,500,000 cases.


searching
Buy This Entire Record For $7.95

Official citation and/or docket number and footnotes (if any) for this case available with purchase.

Learn more about what you receive with purchase of this case.

IN RE WORLDCOM INC. SECURITIES LITIGATION

United States District Court, S.D. New York


May 12, 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

Having received letters from counsel for the Underwriter Defendants, and from counsel for third party Bradford & Marzec, Inc. ("B & M"), and having heard and considered arguments on April 29 and May 10, 2004 from counsel regarding whether and to what extent B & M must comply with subpoenas issued by the Underwriter Defendants on March 12 and 15, 2004 for (i) the production of certain documents (the "Document Subpoena") and (ii) a deponent to testify on behalf of B & M pursuant to Rule 30(b)(6), Fed.R. Civ. P., (the "30(b)(6) Subpoena"), it is hereby

ORDERED that in the consolidated class action:

Pursuant to 28 U.S.C. ยง 1407 (b), this Court has authority to enforce subpoenas issued by the parties in this multidistrict litigation, including the two subpoenas issued to B & M;
The Document Subpoena shall be enforced;
B & M shall produce all documents concerning due diligence, research or other investigation documents concerning WorldCom securities for all clients;
B & M shall produce all documents concerning specific trading activity in WorldCom securities for all transactions involving Fresno County Employees Retirement Association ("FCERA");
B & M shall produce all documents concerning any fee agreements and retainer contracts for FCERA;
B & M shall produce all of B & M's due diligence policies and practices, including without limitation, all due diligence manuals or instructions to B & M staff on the conduct of due diligence;
B & M shall produce all B & M due diligence training or education materials;
B & M shall produce all documents which specifically reference or explain B & M's fiduciary duty to conduct due diligence;
B & M shall produce all documents reflecting communications concerning WorldCom between B & M and the Underwriter Defendants, WorldCom or FCERA;
B & M shall furnish all documents ordered to be produced by Paragraphs 3, 4 and 5 of this Order by May 13, 2004. B & M shall furnish all documents ordered to be produced by Paragraphs 6, 7, 8 and 9 of this Order by May 19, 2004. B & M shall not be required to furnish documents pursuant to this Order which it has previously furnished to the Underwriter Defendants;
The 30(b)(6) Subpoena shall be enforced. B & M shall produce its 30(b)(6) representative(s) on June 9, 2004 for deposition, unless another date shall be agreed upon by B & M and the parties to consolidated class action; B & M shall be entitled to designate, in the manner prescribed and to the extent permitted by this Court's October 29, 2003 Stipulation and Agreed Confidentiality Order (the "October 29 Order"), any document(s) it produces and/or deposition testimony of any witness made available by B & M as "confidential," and by doing so shall confer the protections set forth in the October 29 Order on any and all properly designated documents. B & M shall also have the right to seek additional protection of any confidential documents or testimony for good cause shown should B & M deem the October 29 Order insufficient to protect its interests; and
This Order applies only to the consolidated class action and not to the Individual Actions, which will be addressed by a separate Order.
SO ORDERED.
20040512

© 1992-2004 VersusLaw Inc.



Buy This Entire Record For $7.95

Official citation and/or docket number and footnotes (if any) for this case available with purchase.

Learn more about what you receive with purchase of this case.