United States District Court, S.D. New York
April 8, 2005.
IN RE WORLDCOM, INC. SECURITIES LITIGATION. This Document Relates to: ALL ACTIONS.
The opinion of the court was delivered by: DENISE COTE, District Judge
Class members Bruce P. Bilsback, Dawn G. Bilsback, Robert
Rieman, and Margaret Rieman ("Claimants") did not request
exclusion from the class in this consolidated securities class
action by September 1, 2004, the deadline for filing such a
request. On November 12, 2004, a Judgment Approving Settlement
and Dismissing Action Against the Citigroup Defendants (the
"Judgment") was issued, which released and dismissed certain
defined Released Claims against certain defined Released Parties,
and which permanently barred and enjoined class members from
instituting, commencing, or prosecuting any Released Claims
against any Released Parties.
The Citigroup Defendants have applied for enforcement of the
release and injunction contained in the Judgment as against the
claims asserted by Claimants in an arbitration. On March 16,
2005, an Order was issued instructing Claimants to show cause why
Claimants should not be enjoined from arbitrating claims relating
to investments in securities issued by WorldCom against one or
more of the Citigroup Defendants (the "Order").
Claimants having been served with the Order, and having chosen
to present no opposition to this application, and the Court having considered the arguments and evidence presented by
the Citigroup Defendants, it is hereby
ORDERED that Claimants are enjoined from arbitrating any claims
relating to investments in securities issued by WorldCom;
IT IS HEREBY FURTHER ORDERED that for the reasons stated on the
record at the hearing, Claimants are permanently barred and
enjoined from instituting, commencing or prosecuting, either
directly or in any other capacity, all claims of every nature and
description, known and unknown, arising out of or relating to
investments (including, but not limited to, purchases, sales,
exercises, and decisions to hold) in securities issued by
WorldCom, and/or in options or derivative instruments based in
whole or in part on the value of securities issued by WorldCom
(including Targeted Growth Enhanced Terms Securities with respect
to MCI WorldCom, Inc. and GOALs issued by UBS AG), including
without limitation all claims arising out of or relating to any
analyst research reports or other statements made or issued by
the Citigroup Defendants concerning WorldCom, any disclosures,
registration statements or other statements by WorldCom, as well
as all claims asserted by or that could have been asserted by any
member of the Class against the Citigroup Releasees.
© 1992-2005 VersusLaw Inc.