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IN RE GLOBAL CROSSING, LTD. SECURITIES LITIGATION

Nos. 02 Civ. 910 GEL, 02 Civ. 1186 GEL, 02 Civ. 1187 GEL.

311 B.R. 345 (2003)

In re GLOBAL CROSSING, LTD. SECURITIES LITIGATION. Keith Beightol, Plaintiff, v. UBS Painewebber, et al., Defendants. John Frank Clark, Plaintiff, v. UBS Painewebber, et al., Defendants.

United States District Court, S.D. New York.

June 30, 2003.

Attorney(s) appearing for the Case

J. Brad Pigott, Pigott Reeves Johnson & Minor P.A, Jackson, MS, for Plaintiffs Keith Beightol and John Frank Clark.

Sean Riley, Christensen, Miller, Fink, Jacobs, Glaser, Weil & Shapiro LLP, Los Angeles, CA, for Defendant Gary Winnick.

OPINION AND ORDER

LYNCH, District Judge.

The plaintiffs in these two cases, having sustained losses due to the collapse in value of Global Crossing, Ltd., securities, assert fraud claims against their stockbrokers, who recommended Global Crossing stock to them, and against Gary Winnick, founder and former cochairman of Global Crossing. The complaints were carefully drafted to include only claims under the...

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