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IN RE WORLDCOM

United States District Court, S.D. New York


May 5, 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

ORDER

On April 20, 2005, claimants William Quinn, Kevin Mayer, Ian MacGoey, Stephen Lee, Robert Reindl, Judith Reindl, William Youngberg, Shan C. Sun, Collette C. Sun, Thomas A. Parker, and Denise Harrod ("Respondents") were ordered to show cause on May 6, 2005, why they should not be enjoined from pursuing a NASD arbitration claim against the Citigroup Defendants to the extent the claim relates to investments in securities issued by WorldCom. Having been informed by counsel for the Citigroup Defendants that disputes no longer exist with any Respondents except Shan C. Sun and Collette C. Sun, and because the Suns have requested that no hearing be held and that they be allowed to rest on their written submissions, it is hereby

ORDERED that the May 6, 2005 hearing announced in the April 20, 2005 Order to Show Cause is cancelled.

  SO ORDERED.

  ORDER

  On February 7, 2005, Timothy J. and Kathy M. Dolata ("Claimants") filed a motion for an Order affirming they had opted out of the class or, in the alternative, for an Order extending the deadline for them to opt out of the class. On February 22, 2005, the Citigroup Defendants filed a cross-motion to enjoin Claimants from pursuing their arbitration claims. For the reasons set forth in an Opinion accompanying this Order, the Court finds that 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 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. It is hereby

  ORDERED that Claimants are enjoined from arbitrating any claims relating to investments in securities issued by WorldCom; IT IS FURTHER ORDERED that 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.

  SO ORDERED.

20050505

© 1992-2005 VersusLaw Inc.



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