United States District Court, S.D. New York
August 17, 2004.
IN RE WORLDCOM, INC. SECURITIES LITIGATION. This Document Relates to: WILLIAM C. MOXLEY, et al., Plaintiffs,
CITIGROUP GLOBAL MARKETS INC. f/k/a SMITH BARNEY & CO., INC., Defendant.
The opinion of the court was delivered by: DENISE COTE, District Judge
Through a letter dated August 6, 2004, counsel for plaintiffs
in the above-referenced Individual Action, No. 04 Civ. 232
("Moxley Plaintiffs"), inquire whether they will have the
opportunity to take the depositions of Mark Daner ("Daner") and
William Bennet ("Bennet"), Smith Barney employees in Georgia who
acted as the plaintiffs' financial consultants in connection with
their investments in WorldCom, Inc. ("WorldCom"). The Moxley
Plaintiffs filed their action in September 2003, and it arrived
on this Court's docket in January 2004. The Moxley Plaintiffs
never objected to the consolidation of their case for discovery
with the Securities Litigation. Fact discovery of the
defendants in the Securities Litigation, including the Moxley
case, closed on July 9, 2004. Had the Moxley Plaintiffs wished
to depose an individual with information unique to their action, they were
required to seek the Court's permission and to conduct that
discovery on or before July 9, 2004. Having failed to comply with
this Court's scheduling and consolidation orders, having failed
to provide a sufficient explanation for their failure to do so,
and having failed to act with sufficient diligence in raising
these issues, it hereby
ORDERED that the Moxley Plaintiffs' request to depose Daner
and Bennet is denied.
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