DANIS v. USN COMMUNICATIONS, INC.

No. 98 C 7482.

121 F.Supp.2d 1183 (2000)

DANIS, Plaintiff, v. USN COMMUNICATIONS, INC., et al., Defendants.

United States District Court, N.D. Illinois, Eastern Division.

November 7, 2000.


Attorney(s) appearing for the Case

Marvin Alan Miller, Miller Faucher and Cafferty, Chicago, IL, Paul O. Paradis, Marian P. Rosner, Wolf Popper, LLP, New York, NY, Samuel P. Sporn, Christopher Lometti, Schoengold and Sporn, P.C., New York, NY, Steven J. Toll, Cohen, Milstein, Hausfeld & Toll PLLC, Seattle, WA, Kenneth A. Wexler, Kenneth A. Wexler & Associates, Chicago, IL, for plaintiff.

Christina M. Tchen, Paula M. Stannard, Skadden, Arps, Slate, Meagher & Flom, Chicago, IL, for USN Communications, Inc., Thomas J. Elliott, Gerald J. Sweas, defendants.

Lee Ann Russo, Eric P. Berlin, Jones, Day, Reavis & Pogue, Chicago, IL, Joseph P. Cyr, James Moyle, Mark R Anderson, Johanna Calabria, Nicholas Crowell, Clifford Chance Rogers & Wells, LLP, New York, NY, for Merrill Lynch & Co., Inc., Donaldson, Lufkin & Jenrette Securities Cop., defendants.

William F. Lloyd, David M. Schiffman, Lisa Maria Cipriano, David Andrew Gordon, Sidley & Austin, Chicago, IL, for Deloitte and Touche, LLP, defendant.

Vincent J. Connelly, Herbert L. Zarov, Jennifer Lynn Rakstad, Mayer, Brown & Platt, Chicago, IL, for Richard J. Brekka, defendant.

Richard D. Milvenan, Katherine D. Jordon, Vinson & Elkins LLP, Austin, TX, for Dean M. Grenwood, defendant.

Timothy J. Rooney, Jack J. Crowe, Peter James McCarthy, Winston & Strawn, Chicago, IL, Donald J. Hoffman, Jr., defendant.

David H. Kistenbroker, Leah J. Domitrovic, Freeborn & Peters, Chicago, IL, John D. Donovan, Jr., Christopher G. Green, Peter L. Welsh, Ropes & Gray, Boston, MA, for James P. Hynes, defendant.

Gary W. Kubek, Debevoise & Plimpton, New York City, for William A Johnston, Ian M. Kidson, Paul S. Lattanzio, David C. Mitchell, Eugene A Sekulow, defendants.


MEMORANDUM OPINION AND ORDER

CONLON, District Judge.

Plaintiffs bring this class action on behalf of all persons and entities who (1) purchased USN Communications, Inc. ("USN") common stock in the open market pursuant to the registration statement and prospectus or purchased stock during the period February 4, 1998 through November 20 1998 ("class period"), and (2) were damaged by defendants' violations of the federal securities laws. Consolidated...

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