United States District Court, S.D. New York
June 3, 2004.
TEACHERS' RETIREMENT SYSTEM OF LOUISIANA, ET AL. Plaintiffs,
ACLN LTD., ET AL. Defendants
The opinion of the court was delivered by: MILTON POLLACK, Senior District Judge
At this advanced stage of the litigation, following the lengthy
pre-trial motions and proceedings already had herein and the case seeming
practically to be ready for trial, no decision was reached by the Court
on BDO Seidman's motion whether the earlier Class Certification made on
November 12, 2002 also applied to BDO Seidman, added to the case on
December 12, 2002. The case is almost ready for trial.
That question will be reached on the damages phase as to BDO Seidman
when and if that becomes ripe by an adverse verdict. The earlier
certification for purposes of BDO Seidman will be ripe "as soon as
practicable" under the late circumstances of this case. The question
whether BDO Seidman should be treated as a Class Member Defendant or only
as a defendant accountable to the individually named plaintiffs in the
case a question of damages. BDO Seidman was sued herein by
plaintiffs as individuals as well as Class Members and the consolidated
amended complaint was heretofore sustained, a year ago.
The Motion for a Stay pursuant to Rule 23(f) F.R.Civ.P., is denied.
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