UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK
October 4, 2004
IN RE WORLDCOM, INC. SECURITIES LITIGATION
THIS DOCUMENT RELATES TO: ALL ACTIONS
WHEREAS by order of December 5, 2002, the Court imposed a stay and discovery bar as to the four former WorldCom executives and employees who had pleaded guilty to criminal charges and as to WorldCom's former CFO Scott. D. Sullivan, who was under indictment and faced criminal trial; and
WHEREAS by orders of April 15, 2004 and May 7, 2004, the Court embargoed depositions and interrogatories of thirteen witnesses the Government expected to be critical witnesses at the trial of former WorldCom Chief Executive Officer Bernard J. Ebbers; and
WHEREAS on September 29, 2004, the Lead Plaintiff, defendants Arthur Andersen LLP, Bert C. Roberts, Jr., and the Underwriter-Related Defendants agreed on a procedure to conduct the depositions of certain embargoed witnesses, and the former WorldCom executives and employees who have pleaded guilty, and the Government has no objection hereto; and
WHEREAS should any of the witnesses at issue become unavailable, the agreed procedure may not be construed as any ground for postponing the trial of this Action from its January 10, 2004 trial date, without prejudice to the defendant's right to seek a continuance of the trial date in order to complete the depositions of these previously embargoed witnesses, it is,
ORDERED That the Underwriter-Related Defendants and Arthur Andersen LLP, subject to the foregoing limitations, are hereby free to notice the depositions and/or issue subpoenas to the following nine of the thirteen embargoed witnesses: Scott Sullivan, David Meyers, Buford Yates, Betty Vinson, Troy Normand, Sanjeev Sethi, Mark Abide, Lisa Taranto, and Ashwin Damadarwin. The Lead Plaintiffs are hereby free, subject to the same foregoing limitations, to notice the depositions of previously embargoed witnesses Jon Maguire and Michael Higgins and to cross-notice the depositions of the witnesses noticed or subpoenaed by the defendants. The depositions of these witnesses embargoed due to the pendency of criminal proceedings in U.S. v. Ebbers shall commence, on a rolling basis as they become available, three days after the time they have testified in the U.S. v. Ebbers trial and have been excused by Judge Jones, and shall continue from day to day until completed, subject to the deposition time limitations set forth in the June 7, 2004 order. The three day limitation for the commencement of a particular deposition of these identified witnesses may be adjusted by agreement by all parties provided that the witness has been excused by Judge Jones in the U.S. v. Ebbers trial, and it is further
ORDER: That the stay previously entered as to Scott Sullivan, David Myers, Buford Yates, Betty Vinson, and Troy Normand is hereby lifted for the limited purpose of issuing notices of deposition and/or subpoenas by the interested parties under the foregoing restrictions, and it is further
ORDER: That the embargo orders previously entered as to Sanjeev Sethi, Mark Abide, Lisa Taranto, Ashwin Damadarwin, Jon Maguire, and Michael Higgins are hereby modified for the limited purpose of issuing notices of deposition and/or subpoenas by the interested parties under the foregoing restrictions.
Denise Cote United States District Judge
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