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SECURITIES AND EXCHANGE COMMISSION v. BEAR

United States District Court, S.D. New York


July 6, 2004.

SECURITIES AND EXCHANGE COMMISSION, Plaintiff,
v.
BEAR, STEARNS & CO. INC., Defendant. SECURITIES AND EXCHANGE COMMISSION, Plaintiff, v. JACK BENJAMIN GRUBMAN, Defendant. SECURITIES AND EXCHANGE COMMISSION, Plaintiff, v. J.P. MORGAN SECURITIES INC., Defendant. SECURITIES AND EXCHANGE COMMISSION, Plaintiff, v. LEHMAN BROTHERS INC., Defendant. SECURITIES AND EXCHANGE COMMISSION, Plaintiff, v. MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED Defendant. SECURITIES AND EXCHANGE COMMISSION, Plaintiff, v. U.S. BANCORP PIPER JAFFRAY INC., Defendant. SECURITIES AND EXCHANGE COMMISSION, Plaintiff, v. UBS SECURITIES LLC, f/k/a UBS WARBURG LLC, Defendant. SECURITIES AND EXCHANGE COMMISSION, Plaintiff, v. GOLDMAN, SACHS & CO., Defendant. SECURITIES AND EXCHANGE COMMISSION, Plaintiff, v. CITIGROUP GLOBAL MARKETS INC., f/k/a SALOMON SMITH BARNEY, Defendant. SECURITIES AND EXCHANGE COMMISSION, Plaintiff, v. CREDIT SUISSE FIRST BOSTON LLC, f/k/a CREDIT SUISSE FIRST BOSTON CORPORATION, Defendant. SECURITIES AND EXCHANGE COMMISSION, Plaintiff, v. HENRY McELVEY BLODGET, Defendant. SECURITIES AND EXCHANGE COMMISSION, Plaintiff, v. MORGAN STANLEY & CO. INCORPORATED, Defendant.

The opinion of the court was delivered by: WILLIAM PAULEY, District Judge

ORDER

On February 6, 2004, this Court appointed Francis McGovern, Esq. as Distribution Fund Administrator from among several qualified candidates recommended by the Securities and Exchange Commission. (Order of Appointment, dated February 6, 2004.) Recently, Mr. McGovern was drawn into the controversy surrounding certain asbestos litigation in the Third Circuit. See In re Kensington Int'l Ltd., ___ F.3d ___, 2004 WL 1088306 (3d Cir. 2004); see also In re Owens Corning, et al., 305 B.R. 175 (D. Del. 2004); In re Owens Corning, et al., 291 B.R. 329 (D. Del. 2003). On May 24, 2004, at least one of the defendant investment banks in these related actions moved for appointment of a Chapter 11 Examiner in the Owens Corning bankruptcy proceeding. See In re Owens Corning, et al., No. 00-03837 (JKF) (D. Del. May 24, 2004). The issues surrounding that motion have also been the subject of commentary in the national media. See e.g., St. Francis of Asbestos, Wall St.J., June 15, 2004, at A14.

In view of these recent developments, the parties are directed to submit letters to this Court advising whether any of them have an objection to Mr. McGovern's continued service as Distribution Fund Administrator. In addition, any interested person may submit written comments to the Court. This Court will consider and docket each such submission. All submissions are to be filed with the Clerk of the Court by July 22, 2004.

  The Clerk is directed to file copies of this Order in all of the related actions: (1) SEC v. Bear Stearns and Co. Inc., 03 Civ. 2937 (WHP); (2) SEC v. Jack B. Grubman, 03 Civ. 2938 (WHP); (3) SEC v. J.P. Morgan Securities Inc., 03 Civ. 2939 (WHP); (4) SEC v. Lehman Brothers Inc., 03 Civ. 2940 (WHP); (5) SEC v. Merrill Lynch Pierce Fenner & Smith, Inc., 03 Civ. 2941 (WHP); (6) SEC v. U.S. Bancorp Piper Jaffray, Inc., 03 Civ. 2942 (WHP); (7) SEC v. UBS Securities LLC, 03 Civ. 2943 (WHP); (8) SEC v. Goldman, Sachs and Co., 03 Civ. 2944 (WHP); (9) SEC v. Citigroup Global Markets Inc., 03 Civ. 2945 (WHP); (10) SEC v. Credit Suisse First Boston LLC, 03 Civ. 2946 (WHP); (11) SEC v. Henry M. Blodget, 03 Civ. 2947 (WHP); and (12) SEC v. Morgan Stanley & Co. Incorporated, 03 Civ. 2948 (WHP).

 

SO ORDERED.
20040706

© 1992-2004 VersusLaw Inc.



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