United States District Court, S.D. New York
August 26, 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 member Roslyn Berger ("Claimant") 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 Claimant in an arbitration. On July 13, 2005,
an Order was issued instructing Claimant to show cause why she
should not be enjoined from arbitrating claims relating to
investments in securities issued by WorldCom against one or more
of the Citigroup Defendants.
Having considered the arguments presented by Claimant and the
Citigroup Defendants in their submissions and at a conference
held on August 26, 2005, it is hereby ORDERED that Claimant is 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 conference, Claimant is 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
Plaintiffs or any member of the Class in the Action against the
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