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IN RE WORLDCOM

November 3, 2005.

IN RE WORLDCOM, INC. SECURITIES LITIGATION. This Document Relates to: IQ HOLDINGS, INC., Plaintiff,
v.
ARTHUR ANDERSEN LLP, et al., Defendants.



The opinion of the court was delivered by: DENISE COTE, District Judge

FINAL ORDER AND JUDGMENT

WHEREAS, IQ Holdings, Inc., the plaintiff (the "Settling Plaintiff") in the above-captioned action (the "Action"), has asserted, in its Amended Complaint filed July 11, 2003 (the "Complaint"), certain claims against Scott D. Sullivan ("Sullivan") and other defendants named therein (the "Non-Settling Defendants"); and

WHEREAS, the Settling Plaintiff and Sullivan have reached an agreement intended to settle, compromise, and dismiss, on the merits and with prejudice, all claims asserted by the Settling Plaintiff against Sullivan (the "Settlement Agreement");

  NOW, THEREFORE, IT IS HEREBY ORDERED THAT:

  1. This Final Order and Judgment incorporates by reference the definitions in the Settlement Agreement, and all capitalized terms not otherwise defined herein shall have the meaning ascribed to them in the Settlement Agreement.

  2. The Complaint and the Action are hereby dismissed without costs and on the merits and with prejudice in full and final discharge of any and all claims or obligations which were or could have been asserted by the Settling Plaintiff against Sullivan in the Complaint or the Action. The Court finds the Complaint was filed on a good faith basis in accordance with the Private Securities Litigation Reform Act and Rule 11 of the Federal Rules of Civil Procedure based upon all publicly available information.

  3. "Released Claims" means:

  a. with respect to the Sullivan Releasees (as defined herein), the release by the Settling Plaintiff of all claims and causes of action of every nature and description, known and unknown, whether under federal, state, common, or foreign law, whether brought directly or derivatively, based upon, arising out of, or relating in any way to (a) investments (including, but not limited to, purchases, sales, exercises, and decisions to hold) insecurities issued by WorldCom, including without limitation all claims arising out of or relating to any disclosures, public filings, registration statements, or other statements by WorldCom or Sullivan and (b) all claims asserted by or that could have been asserted by the Settling Plaintiff against the Sullivan Releasees in the Action; and

  b. with respect to the Plaintiff Releasees (as defined herein), the release by Sullivan of any claims relating to the institution or prosecution of the Action.

  4. "Sullivan Releasees" means Sullivan, his spouse, and his family members, heirs, executors, administrators, successors, assigns, present and former attorneys, legal representatives, accountants, insurers, and agents, and any person or entity which is or was related to or affiliated with any Sullivan Releasee or in which any Sullivan Releasee has or had a controlling interest and the parents, subsidiaries, divisions, affiliates, predecessors, successors, present and former employees, officers and directors, attorneys, accountants, insurers, assigns, and agents of each of them. The Sullivan Releasees shall not include any of the Non-Settling Defendants.

  5. "Plaintiff Releasees" means the Settling Plaintiff and its respective present and former parents, subsidiaries, divisions, and affiliates, the present and former employees, officers, and directors of each of them, the present and former attorneys, accountants, insurers, and agents of each of them, and the predecessors, heirs, successors, and assigns of each, and any person or entity in which any Plaintiff Releasee has or had a controlling interest or which is or was related to or affiliated with any Plaintiff Releasee.

  6. "Released Parties" means:
a. with respect to Sullivan, the Sullivan Releasees; and
b. with respect to the Settling Plaintiff, the Plaintiff Releasees.
  7. The Settling Plaintiff, its successors, and assigns, and anyone claiming through or on behalf of any of them, are hereby permanently barred and enjoined from commencing, instituting, or prosecuting in this Action or any other litigation or proceeding any Released Claims against any of the Sullivan Releasees or from pursuing outside of this Action any claim against any of the Sullivan Releasees that arises from or relates to the facts alleged in the Complaint.

  8. Sullivan, his successors, and assigns, and anyone claiming through or on behalf of any of them, is hereby permanently barred and enjoined from commencing, instituting, or prosecuting in this Action or any other litigation or proceeding any Released Claims against the Settling Plaintiff. 9. The Released Claims against each and all of the Released Parties shall be released and dismissed with prejudice and on the merits, without costs to any party, upon entry of this Final Order and Judgment.

  10. Neither the Settlement Agreement, nor any of its terms and provisions, nor any of the negotiations or proceedings connected with it, nor any of the documents ...


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