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IN RE FLAG TELECOM HOLDINGS, LTD. SECURITIES LIT.

No. 02 Civ.3400(WCC).

411 F.Supp.2d 377 (2006)

In re FLAG TELECOM HOLDINGS, LTD. SECURITIES LITIGATION THIS DOCUMENT RELATES TO: ALL ACTIONS

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

January 23, 2006.

Attorney(s) appearing for the Case

Milberg Weiss Bershad & Schulman, LLP (Brad N. Friedman, Rachel S. Fleishman, of counsel), New York City, for Plaintiff and the Class.

Milbank, Tweed, Hadley & McCloy LLP (James N. Benedict, David R. Gelfand, Douglas W. Henkin, of counsel), New York City, for Defendant Citigroup Global Markets, Inc.

Shearman & Sterling (Jerome S. Fortinsky, Michael T. Rasnick, Panagiotis Katsambas, Paul N. Lekas, of counsel), New York City, for Individual Defendants Andres Bande, Larry Bautista, Lim Lek Suan, Edward McCormack, Edward McQuaid, Daniel Petri, Stuart Rubin and Philip Seskin.

AMENDED OPINION AND ORDER

WILLIAM C. CONNER, Senior District Judge.

Plaintiff Peter Loftin brought this proposed class action raising claims under the federal securities laws against defendants Flag Telecom Holding Group, Ltd. ("Flag"), Salomon Smith Barney, Inc. n/k/a Citigroup Global Markets, Inc. ("Citigroup"), Verizon Communications, Inc. ("Verizon") and nine individual defendants: Andres Bande, Edward McCormack, Andrew Evans, Larry Bautista,...

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