IN RE SMARTALK TELESERVICES, INC. SECURITIES LITIGATION

No. 00-1315.

124 F.Supp.2d 487 (2000)

In re SMARTALK TELESERVICES, INC. SECURITIES LITIGATION, This Document Relates To: All Actions Particularly USDC Massachusetts Case Nos.: 99CVH11499EFH (5S Trust I).

United States District Court, S.D. Ohio, Eastern Division.

November 1, 2000.


Attorney(s) appearing for the Case

Greg May, Munsch Hardt Kopf Harr & Dinan, PC, Dallas, TX, Richard Stuart Wayne, Strauss & Troy, Cincinnati, OH, Maribeth Deavers, Martin Pergram & Browning, Worthington, OH, Marilyn Ruth Donoff, M.R. Donoff and Associates, Dayton, OH, Lionel Z. Glancy, Lionel Z. Glancy Law Offices, Los Angeles, CA, William S. Lerach, Milberg Weiss Bershad Hynes & Lerach, San Diego, CA, Kevin P. Roddy, Milberg Weiss Bershad Hynes & Lerach, Los Angeles, CA, Stephen Richard Basser, Barrack Rodos & Bacine, San Diego, CA, Kurt B. Olsen, Kurt Olsen Law Offices, Washington, D.C., James F. Koehler, Gallagher Sharp Fulton & Norman, Cleveland, OH, Richard S. Schiffrin, Schiffrin Craig & Barroway, Bala, Cynwyd, PA, Jeffrey H. Squire, Kaufman Malchman Kirby & Squire, New York City, Stanley M. Grossman, Pomerantz Haudek Block & Crossman, New York City, Robert N. Kaplan, Kaplan Kilsheimer & Fox, New York City, Joel Sanford Taylor, Dinsmore & Shohl, Columbus, OH, Anthony J. Celebrezze, Jr., Dinsmore & Shohl, Columbus, OH, for plaintiffs.

Ann E. Bennington, Hahn Loeser & Parks, Columbus, OH, Boris Feldman, Bredhoff & Kaiser, Washington, D.C., Keith Eggleton, Wilson Sonsini Goodrich & Rosati, Palo Alto, CA, Thomas Leslie Long, Baker & Hostetler, Columbus, OH, John J. Kulewicz, Vorys Sater Seymour & Pease, Columbus, OH, for defendants.


OPINION AND ORDER # 3

SARGUS, District Judge.

This matter is before the Court on the Individual Defendants' Motion to Dismiss the SmarTel Complaint. For the reasons that follow, the Court GRANTS IN PART AND DENIES IN PART the Defendants' Motion.

I. Background.

A. Overview.1

Plaintiffs in this action (the "SmarTel Plaintiffs") were each shareholders in SmarTel Communications, Inc. ("SmarTel...

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