Opinion
Master File No. 02 Civ. 3288 (DLC).
February 25, 2005
ORDER
Having reviewed the Underwriter Defendants and the Lead Plaintiff's submissions as to the Underwriter Defendants' motion for reconsideration of the Court's December 15 Opinion and Order, it is hereby
ORDERED that the Underwriter Defendants' motion for reconsideration is denied as to the issue of whether Lead Plaintiff and/or named plaintiffs HGK Asset Management ("HGK"), County of Fresno, California ("Fresno"), and Fresno County Employees Retirees Association ("FCERA") (collectively "Named Plaintiffs") have standing as class representatives. See Hevesi v. Citigroup, Inc., 366 F.3d 70, 82 (2d Cir. 2004). To the extent that the Underwriter Defendants seek a determination, within the summary judgment process in the class action, of whether the Lead Plaintiff and the remaining Named Plaintiffs may individually obtain damages with respect to the two Offerings,
IT IS FURTHER ORDERED that the Underwriter Defendants' motion for reconsideration is denied. If judgment is entered for the class following the conclusion of the class action plenary trial, the question of the Lead Plaintiff and Named Plaintiffs' right to individually recover damages will be addressed through post-trial proceedings.