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 AOL TIME WARNER

United States District Court, S.D. New York


May 26, 2004.

IN RE AOL TIME WARNER, INC. SHAREHOLDER LITIGATION; THIS DOCUMENT RELATES TO: LAURENCE NATHANSON, Derivatively on Behalf of Nominal Defendant TIME WARNER, INC., Plaintiffs, -against- STEPHEN M. CASE, JAMES L. BARKSDALE, STEPHEN F. BOLLENBACH, FRANK J. CAULFIELD, MILES R. GILBURNE, CARLA A. HILLS, REUBEN MARK, MICHAEL A. MILES, KENNETH J. NOVACK, RICHARD D. PARSONS, ROBERT W. PITTMAN, FRANKLIN D. RAINES, R. E. TURNER, FRANCIS T. VINCENT, JR., DANIEL F. AKERSON, GEORGE VRADENBURG, MAYO S. STUNTZ AND J. MICHAEL KELLY, Defendants, and TIME WARNER, INC., Nominal Defendant

The opinion of the court was delivered by: SHIRLEY KRAM, Senior District Judge

OPINION AND ORDER

Plaintiff Laurence Nathanson moves the Court to modify Unopposed Pre-Trial Order No. 1, entered on March 26, 2003. Specifically, Nathanson asks the Court to appoint the law firm of Shepherd, Finkelman, Miller & Shah, LLC ("SFMS") as co-lead counsel in the "no demand" shareholder derivative cases. Nathanson's motion is DENIED. The motion presents no objection to the status of these proceedings, nor does it raise any issue regarding the adequacy of Emerson Poynter as Lead Counsel. Instead, Nathanson's counsel seems to argue that, with respect to lead attorneys, "the more the merrier." The Court disagrees, as there is no reason to believe that the appointment of additional lead counsel will maximize the benefits to shareholders in these actions.

While the Court will not appoint SFMS co-lead counsel,*fn1 the Court does believe that bifurcation of the shareholder derivative claims into "demand" and "no demand" cases, due to the distinct factual and legal issues involved, is appropriate. Accordingly, Pre-Trial Order No. 2, which is attached, will be entered.

  SO ORDERED.


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.