IN RE INITIAL PUBLIC OFFERING SECURITIES LIT.

No. 21 MC 92(SAS).

297 F.Supp.2d 668 (2003)

In re: INITIAL PUBLIC OFFERING SECURITIES LITIGATION This Document Relates To: All Cases

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

December 31, 2003.


Attorney(s) appearing for the Case

Melvyn I. Weiss, Robert Wallner, Ariana J. Tadler, Milberg Weiss Bershad Hynes & Lerach LLP, New York City, Stanley Bernstein, Robert Berg, Rebecca Katz, Bernstein Liebhard & Lifshitz, LLP, New York City, for Plaintiffs.

Gandolfo V. DiBlasi, Sullivan & Cromwell, New York City, with Andrew J. Frackman, Brendan J. Dowd, O'Melveny & Myers LLP, New York City, Fraser L. Hunter, Jr., Wilmer, Cutler & Pickering, New York City, for Defendants (Underwriters).

Jack C. Auspitz, Morrison & Foerster LLP, New York City, for Defendants (Issuers).


OPINION AND ORDER

SCHEINDLIN, District Judge.

In an Opinion and Order dated February 19, 2003, I decided defendants' motions to dismiss,1 which they now renew in light of a recent Second Circuit case addressing the pleading of loss causation in securities fraud cases. For the reasons that follow, Underwriter defendants' motion for judgment on the pleadings is denied.

I. BACKGROUND

The allegations in these...

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