IN RE LERNOUT & HAUSPIE SECURITIES LITIGATION

No. Civ.A. 00-CV-11589-PB. No. Civ.A. 02-CV-10302-PB. No. Civ.A. 02-CV-10303-PB. No. Civ.A. 02-CV-10304-PB.

230 F.Supp.2d 152 (2002)

In re LERNOUT & HAUSPIE SECURITIES LITIGATION. Gary B. Filler, et al., Plaintiffs, v. Jo Lernout, et al., Defendants. Stonington Partners, Inc., et al., Plaintiffs, v. Carl Dammekens, et al., Defendants. Paul G. Bamberg, et al., Plaintiffs, v. KPMG, LLP, et al., Defendants. Janet Baker, et al., Plaintiffs, v. KPMG, LLP, et al., Defendants.

United States District Court, D. Massachusetts.

August 19, 2002.


Attorney(s) appearing for the Case

Richard E. Bennett, Jack R. Pirozzolo, James J. Nicklaus, Wilcox, Pirozzolo & McCarty, Boston, MA, Arthur G. Connolly, III, Connolly, Bove, Lodge & Hutz, Wilmington, DE, for Paul G. Bamberg, Robert Roth, Donald B. Fletcher, Cherry F. Bamberg.

Terence K. Ankner, Kenneth J. Fishman, Bailey, Fishman & Leonard, Boston, MA, Kurt F. Gwynne, John G. Harris, Reed Smith LLP, Wilmington, DE, Karen C. Dyer, Boies, Schiller & Flexner LLP, Orlando, FL, Robert A. Nicholas, Michael T. Scott, Alan K. Cotler, Sean M. Halpin, Tracy Zurzolo-Frisch, Joan A. Yue, Reed Smith, LLP, Philadelphia, PA, for Janet Baker, James Baker, JK Baker LLC, JMBaker, LLC.

Susan E. Kaufman, Heiman, Aber, Goldlust & Baker, Wilmington, DE, for Jo Lernut.

Pamela E. Berman, Bryan A. Wood, Schnader, Harrison, Goldstein & Manello, Boston, MA, Daniel Waxman, Eric Rieder, Bryan Cave, LLP, New York City, for Roel Pieper.

John A. Gilmore, Nelson Callahan, Hill & Barlow, Boston, MA, for Bernard Berngnes.

Stephen E. Jenkins, Ashby & Geddes, Wilmington, DE, Douglas F. MacLean, Latham & Watkins, Newton, MA, Peter W. Devereaux, Latham & Watkins, Los Angeles, CA, for KPMG Intern.

Lewis H. Lazarus, Morris, James, Hitchens & Williams, Wilmington, DE, for KPMG U.S.

David H. Braff, Bradley A. Harsch, Philip L. Graham, Jr., Stephanie G. Wheeler, Sullivan & Cromwell, New York City, Theodore Edelman, Sullivan & Cromwell, London, England, Douglas H. Meal, Emily F. Klineman, Ropes & Gray, Boston, MA, for KPMG UK.

Kevin R. Shannon, Potter, Anderson & Corroon, LLP, Wilmington, DE, for KPMG Belgium.

Matthew J. Matule, Skadden, Arps, Slate, Meagher & Flom, Boston, MA, Paul J. Lockwood, Skadden, Arps, Slate, Meagher & Flom, Wilmington, DE, George A. Zimmerman, Joanne Gaboriault, Skadden, Arps, Slate, Meagher, & Flom, LLP, New York City, for SG Cowen Securities Corp.

Henry A. Heiman, Heiman, Aber Goldlust & Baker, Wilmington, DE, for Jo Lernout.

James S. Dittmer, James O. Fleckner, Hutchins, Wheeler & Dittmer, Boston, MA, for Pol Hauspie, Nico Willaert.

Thomas W. Evans, Janet B. Fierman, Robert M. Cohen, Cohen & Fierman, LLP, Boston, MA, for Mercator & Noordstar NV.

Gregg Shapiro, Kevin J. Lesinski, Choate, Hall & Stewart, Boston, MA, Michael P. Carroll, William Fenrich, Davis, Polk & Wardwell, New York City, for KPMG, LLP.

Robert J. Kaler, Gadsby & Hannah, LLP, Boston, MA, for Flanders Language Valley Foundation.


MEMORANDUM AND ORDER

SARIS, District Judge.

These actions involve a dispute over the proper standard for evaluating the liability of an outside independent auditor for widespread accounting fraud by senior officers of a corporation. In this securities class action and the three related cases, Plaintiffs allege that various affiliated KPMG entities committed accounting fraud at now-bankrupt Lernout & Hauspie Speech Products, N.V. ("L & H"), a Belgian...

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