Opinion
Master File 02 Civ. 3288 (DLC).
June 10, 2005
ORDER
Class members Paul G. Rochmis and Paul G. Rochmis M.D. Ltd., Employees Profit Sharing Plan ("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 May 18, 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.
Having considered the arguments presented by Claimants and the Citigroup Defendants in their submissions and at a conference held on June 3, 2005, 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 conference, 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 Plaintiffs or any member of the Class in the Action against the Citigroup Releasees.
SO ORDERED.