Legal Opinion

New York City Employees' Retirement System v. Ebbers

District Court, S.D. New York

Decided March 29, 2005No. Nos. 02 Civ. 3288(DLC), 02 Civ. 8981(DLC)PublishedCited by 2 opinions

1Opinion of the Court

OPINION AND ORDER

COTE, District Judge.

Defendants have moved to dismiss some of the claims in this securities fraud action brought by a consortium of New York City actuarial pension funds (collectively, “NY-CERS”)1 following the collapse of World-Com, Inc. (“WorldCom”). For the following reasons, the motions are granted in part.

*552 Background 2

On June 25, 2002, WorldCom announced a massive restatement of its financials. Litigation asserting that WorldCom had violated the federal securities laws had already been filed in this district and assigned to this Court. With the June 25 announcement, more…

2Cases cited30 opinions

Swierkiewicz v. Sorema N. A.Supreme Court of the United States · 2002
Rothman v. GregorCourt of Appeals for the Second Circuit · 2000
Eternity Global Master Fund Limited v. Morgan Guaranty Trust Company of New York and Jpmorgan Chase BankCourt of Appeals for the Second Circuit · 2004
Rubin Sira v. R. Morton, C. Artuz, D. Selsky, and G. GoordCourt of Appeals for the Second Circuit · 2004
Novak v. KasaksCourt of Appeals for the Second Circuit · 2000

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3Cited by2 opinions

Grant Thornton LLP v. Prospect High Income FundTexas Supreme Court · 2010
In Re WorldCom, Inc. Securities LitigationDistrict Court, S.D. New York · 2005