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IN RE WORLDCOM

United States District Court, S.D. New York


August 11, 2004.

IN RE WORLDCOM, INC. SECURITIES LITIGATION. This Document Relates to: SUNTRUST BANK and TRUSCO CAPITAL MANAGEMENT, INC., Plaintiffs,
v.
BERNARD J. EBBERS, et al., Defendants.

The opinion of the court was delivered by: DENISE COTE, District Judge

ORDER

On July 27, 2004, plaintiffs SunTrust Bank and Trustco Capital Management, Inc. (collectively, "SunTrust") wrote to advise the Court that they would be filing a motion which they wanted the Court to decide prior to the September 1, 2004 close of the opt-out period in the consolidated WorldCom, Inc. ("WorldCom") class action. The proposed motion is described as one addressing the plaintiffs' standing to sue on behalf of affiliates and customers. The SunTrust Action was filed on September 16, 2002 in the Southern District of Mississippi. The SunTrust plaintiffs write that they want an "affirmative determination on this issue from the Court before the opt-out date so its customers can decide whether to opt out of the class and file their own individual action should the Court rule that SunTrust lacks standing to assert their claims." As of today, no motion has been filed. The opt-out period was originally set to close on February 20, 2004.

Any affiliate or customer of the SunTrust plaintiffs who is a member of the WorldCom class should have been provided with the notices regarding the class action and the opt-out period. To the extent that the SunTrust plaintiffs are nominees, they were required by the August 2, 2004 Notice to provide or to assist in providing that notice.

  The SunTrust plaintiffs are hereby

  ORDERED to refrain from any communication with any affiliate or customer that would state, suggest, or imply that there will be a decision before September 1, 2004 on any motion they may file; or that the opt-out period may be extended for their customers or affiliates until after a decision on their motion.

 

SO ORDERED.
20040811

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