Opinion
Master File 02 Civ. 3288 (DLC).
June 15, 2005
ORDER
Class members Robert Reindel, Judith Reindel (the "Reindels"), Shan C. Sun, and Collette C. Sun (the "Suns") (collectively, "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 April 20, 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 the Suns and the Citigroup Defendants in their submissions, and having obtained no response from the Reindels to the Order to Show Cause, 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 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.