IN RE LERNOUT & HAUSPIE SECURITIES LITIGATION

No. CIV.A. 00-CV-11589-PBS.

214 F.Supp.2d 100 (2002)

In re LERNOUT & HAUSPIE SECURITIES LITIGATION

United States District Court, D. Massachusetts.

July 26, 2002.


Attorney(s) appearing for the Case

Michael G. Lange, Berman, DeValerio & Pease, Boston, MA, Steven E. Cauley, Cauley, Geller, Bowman & Coates, Little Rock, AK, W. Todd W. Todd Ver Weire, Cauley Geller Bowman & Coates, LLP, Little Rock, AR, Glen DeValerio, Berman DeValerio Pease Tabacco, Burt & Pucillo, Boston, MA, Curtis L. Bowman, Cauley Geller Bowman & Coates, LLP, James P. Bonner, Shalov Stone & Bonner, New York City, Alicia M. Duff, Berman, DeValerio & Pease, Boston, MA, Kenneth A. Ricken, Shalov Stone & Bonner, New York City, Jeffrey C. Block, Berman DeValerio Pease Tabacco, Burt & Pucillo, Boston, MA, Ralph M. Stone, Lee S. Shalov, Shalov Stone & Bonner LLP, New York City, Paul J. Geller, Gene Cauley, Cauley Geller Bowman & Coates, LLP, Little Rock, AR, Robert P. Frutkin, Savett Frutkin Podell & Ryan, PC, Philadelphia, PA, Bernard M. Gross, Deborah R. Gross, Law Offices of Bernard M. Gross, P.C., Philadelphia, PA, Thomas G. Shapiro, Shapiro, Haber & Urmy LLP, Boston, MA, Barbara A. Podell, Savett, Frutkin, Podell & Ryan, P.C., Philadelphia, PA, Richard A. Lockridge Grindal Nauen P.L.L.P., Minneapolis, MN, Lisa J. Rodriguez, Rodriguez & Richards, LLC, Haddonfield, NJ, Thomas L. Earp, Earp Cohn P.C., Westmont, NJ, Michael D. Donovan, David A. Searles, Donovan Searles, LLC, Philadelphia, PA, for Plaintiffs.

William R. Moorman, Stephen Wald, Craig & Macauley, P.C., Kevin J. Lesinski, Arnold P. Messing, Choate, Hall & Stewart, Boston, MA, Michael P. Carroll, Davis, Polk & Wardwell, William Fenrich, Davis Polk & Wardwell, Diem-Suong T. Nguyen, Davis Polk & Wardwell, New York City, John B. Missing, Herbert Thomas, Ellen D. Marcus, Debevoise & Plimpton, Washington, DC, James S. Dittmar, Sanjit S. Korde, Hutchins, Wheeler & Dittmar, Michael A. Collora, Dwyer & Collora, David M. Osborne, Dwyer & Collora, Boston, MA, Donald Chase, Franklin R. Weissberg, David A. Piedra, Peter D. Weinstein, Morrison Cohen Singer & Weinstein, LLP, New York City, James O. Fleckner, Hutchins, Wheeler, & Dittmar, David M. Osburne, Dwyer & Collora, Boston, MA, Rachelle L. DeGregory, Morrison Cohen Singer & Weinstein, LLP, New York City, William Shields, Jonathan I. Handler, Day, Berry & Howard, Boston, MA, Bruce A. Baird, Covington & Burling, Paul W. Schmidt, Jason A. Levine, Covington & Burling, William D. Iverson, Covington & Burling, Andrew Good, Silverglate & Good, Roger E. Zuckerman, Zuckerman Spaeder LLP, Steven M. Salky, Zuckerman Spaeder LLP, Washington, DC, Michael P. Connolly, Murtha Cullina Roche Carens & DeGiacomo, Boston, MA, Frank Rozzano, Dickstein Shapiro Morin & Oshinsky, LLP, Tara J. Holubar, Dickstein Shapiro Morin & Oshinsky, LLP, Washington, DC, Robert J. Kaler, Gadsby & Hannah LLP, Boston, MA, Douglas H. Meal, Ropes & Gray, Boston, MA, David H. Braff, Bradley A. Harsch, Sullivan & Cromwell, New York City, Emily F. Klineman, Ropes & Gray, Boston, MA, Philip L. Graham, Jr., Stephanie G. Wheeler, Sullivan & Cromwell, New York City, Theodore Edelman, Sullivan & Cromwell, London EC4A 1AN, England, Erick Lund, Posternak, Blankstein & Lund, Boston, MA, David N. Ellenhorn, Louis M. Solomon, Teresa A. Gonsalves, Solomon, Zauderer Ellenhorn, Frischer & Sharp, New York City, Thomas W. Evans, Cohen & Fierman, LLP, Boston, MA, Janet B. Fierman, Cohen & Fierman, LP, Boston, MA, John W. Polk, Baker & McKenzie, Washington, DC, Robert M. Cohen, Cohen & Fireman, LLP, Boston, MA, John A. Gilmore, Nelson Callahan, Hill & Barlow, Boston, MA, George A. Salter, John A. Redmon, Nicholas W.C. Corson, Hogan & Hartson, LLP, New York City, Sarah E. Walters, Gus P. Coldebella, Anthony M. Feeherry, Goodwin Procter LLP, Boston, MA, for Defendants.

Michael L. Hirschfeld, Jeffrey Barist, Douglas W. Henkin, Milbank, Tweed, Hadley & McCloy, New York City, Sherrie R. Savett, Berger & Montague, Philadelphia, PA, Jonathan Shapiro, Stern, Shapiro, Weissberg & Garin, Boston, MA, Joseph H. Weiss, Jack I. Zwick, David C. Katz, Weiss & Yourman, New York City, for Interested Parties.


MEMORANDUM AND ORDER

SARIS, District Judge.

I. Introduction

This proposed securities fraud class action raises a novel question under the Private Securities Litigation Reform Act ("PSLRA"), 15 U.S.C. § 78u-4(b)(3)(B), which stays discovery while any motion to dismiss is pending unless certain circumstances exist.1 In a class action against multiple defendants, does the PSLRA stay discovery against a defendant whose...

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