Opinion
No. CIV 07-0815 JB/WDS.
June 24, 2010
Frederick S. Fox, Aviah Cohen Pierson, Kaplan Fox Kilsheimer, New York, New York and Richard A. Lockridge, Nathan D. Prosser, Karen H. Riebel, Lockridge Gindal Nauen Holstein, Minneapolis, Minnesota and Nancy Kaboolian, Abbey Spanier Rodd Abrams Paradis, LLP, New York, New York and Curtis V. Trinko, Law Offices of Curtis V. Trinko, LLP, New York, New York and Evan J. Smith, Brodsky Smith, L.L.C., Mineola, New York and David R. Scott, Scott Scott, LLC, Colchester, Connecticut and Arthur Shingler, III, Scott Scott, LLP, San Diego, California and Charlotte Itoh, Cody Kelley, Kelley Law Offices, Albuquerque, New Mexico and Shane C. Youtz, Albuquerque, New Mexico and Turner W. Branch, Branch Law Firm, Albuquerque, New Mexico and Fred T. Isquith, Rachel S. Poplock, Martin E. Restituyo, Gregory Nespole, Wolf Haldenstein Adler Freeman Herz, LLP, New York, New York and Francis M. Gregorek, Rachele R. Rickert, Patrick Moran, Betsy C. Manifold, Wolf Haldenstein Adler Freeman Herz, LLP, San Diego, California and Andrew Zivitz, Benjamin Sweet, Michelle Newcomer, Richard Russo, Jr., Sean M. Handler, Stewart L. Berman, D. Seamus Kaskela, Barroway Topaz Kessler Meltzer Check, LLP, Radnor, Pennsylvania, Attorneys for the Plaintiffs.
Amy L. Neuhardt, Boies, Schiller Flexner, LLP, Washington, District of Columbia and Donald L. Flexner, Philip C. Korologos, Boies, Schiller Flexner, LLP, New York, New York, Attorneys for Defendants Garrett Thornburg, Anne-Drue M. Anderson, David A. Ater, Joseph H. Badal, Eliot R. Cutler, Ike Kalangis, Francis I. Mullin, III, Stuart C. Sherman, and Paul G. Decoff.
Frank T. Herdman, Rubin Katz Law Firm, P.C., Santa Fe, New Mexico and William H. Forman, Scheper Kim Overland, LLP, Los Angeles, California and David F. Cunningham, Thompson, Hickey, Cunningham, Clow April, P.A., Santa Fe, New Mexico, Attorneys for Defendants Thornburg Mortgage, Inc., Garrett Thornburg, Larry A. Goldstone, Clarence G. Simmons, Anne-Drue M. Anderson, David A. Ater, Joseph H. Badal, Eliot R. Cutler, Michael B. Jeffers, Ike Kalangis, Owen M. Lopez, Francis I. Mullin, III, and Stuart C. Sherman.
Clinton W. Marrs, Tax, Estate Business Law, N.A., LLC, Albuquerque, New Mexico, Attorney for Defendants Larry A. Goldstone and Clarence G. Simmons.
Robert Badal, WilmerHale, Los Angeles, California, Attorney for Defendants Thornburg Mortgage, Inc., Larry A. Goldstone, Clarence G. Simmons, Michael B. Jeffers, and Owen M. Lopez.
Joel Sher, Shapiro Sher Guinot Sandler, Baltimore, Maryland and Mary R. Jenke, Walsh Anderson Brown Aldridge Gallegos, Albuquerque, New Mexico, Attorneys for Thornburg Mortgage, Inc.
Clifford K. Atkinson, John Thal, Atkinson Thal, P.C., Albuquerque, New Mexico, Attorneys for Defendants AG Edwards Sons, Inc., BB T Capital Markets, UBS Securities, Citigroup Global Markets Inc., Friedman, Billings, Ramsey Co., Oppenheimer Company, Inc., RBC Dain Rauscher Corp., Stifel, Nicolaus Company, Inc., and Bear Sterns Co.
Jonathan C. Dickey, Gibson, Dunn Crutcher, LLP, New York, New York, and Dean J. Kitchens, Lindsay R. Pennington, Gibson, Dunn Crutcher, LLP, Los Angeles, California, Attorneys for Defendants AG Edwards Sons, Inc., BB T Capital Markets, Citigroup Global Markets Inc., Oppenheimer Company, Inc., RBC Dain Rauscher Corp., and Stifel, Nicolaus Company, Inc.
David Bohan, David Stagman, Katten Muchin Rosenman, LLP, Chicago, Illinois, Attorneys for Defendants UBS Securities and Bear Sterns Co.
William Pittard, Williams Connolly, LLP, Washington, D.C., Attorney for Defendant Friedman, Billings, Ramsey Co.
ORDER
THIS MATTER comes before the Court on the Motion of Underwriter Defendants for Judgment Under Fed.R.Civ.P. 54(b), filed February 8, 2010 (Doc. 255). The Court held a hearing on June 9, 2010. The primary issue is whether the Court should enter a judgment in favor of Defendants A.G. Edwards Sons, Inc., BB T Capital Markets, a division of Scott Stringfellow, Inc., Bear, Stearns Co. Inc. (now J.P. Morgan Securities Inc.), Citigroup Global Markets, Inc., Friedman, Billings, Ramsey Co., Inc., Oppenheimer Company, Inc., RBC Dain Rauscher Corp., Stifel, Nicolaus Company, Incorporated, and UBS Securities LLC ("the Underwriter Defendants") because the Court dismissed the claims against those Defendants in a Memorandum Opinion and Order filed January 27, 2010. See Memorandum Opinion and Order at 36, filed January 27, 2010 (Doc. 251). Because the Court will grant the Plaintiffs' Motion for Clarification of the Court's January 27, 2010 Memorandum Opinions and Orders Granting in Part and Denying in Part the Defendants' Motions to Dismiss the Consolidated Amended Complaint, filed February 5, 2010 (Doc. 254), and will allow the Plaintiffs to file a motion for leave to amend the Consolidated Amended Complaint and for reconsideration, the Court finds that entry of final judgment as to the Underwriter Defendants is not appropriate at this time.
IT IS ORDERED that the Motion of Underwriter Defendants for Judgment Under Fed.R.Civ.P. 54(b) is denied without prejudice to them renewing the motion after the Court considers the Lead Plaintiffs' proposed motion to amend and to reconsider.