IN RE NATIONAL CENTURY FINANCIAL ENTERPRISES, INC.

No. 2:03-md-1565.

504 F.Supp.2d 287 (2007)

In re NATIONAL CENTURY FINANCIAL ENTERPRISES, INC., Investment Litigation.

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

May 7, 2007.


Attorney(s) appearing for the Case

Kathy D. Patrick, Jeffry J. Cotner, Scott Humphries, Gibbs & Bruns, LLP, Houston, TX, for City of Chandler Arizona et al.

David L. Elsberg, Miller & Wrubel P.C., Alexander C. Barnard, Rex Lee, Kevin Janus, Quinn Emanuel Urquhart Oliver & Hedges LLP, New York City, A. William Urquhart, Quinn Emanuel Urquhart Oliver & Hedges, Los Angeles, CA, for Ing Bank N.V.

George E. Ridge, Cooper Ridge & Lantinberg, Jacksonville, FL, Robert N. Kaplan, Kaplan Fox & Kilsheimer LLP; New York City, James Edward Arnold, Clark Perdue Arnold & Scott, Columbus, OH, Kenneth J. Vianale, Vianale & Vianale LLP, Boca Raton, FL, for Michael Mahoney, Louis Janssen, Larry R. White, John P. Houlihan.

Harold G. Levison, Kasowitz, Benson, Torres & Friedman LLP, New York City, Richard B. Harper, McCarter & English, Newark, NJ, for Metropolitan Life Insurance Company.

Steven E. Fineman, Hector D. Geribon, Lieff Cabraser Heimann And Bernstein LLP, New York City, for New York City Fire Department Pension Fund, New York City Police Pension Fund, New York City Employees' Retirement. System, Teachers' Retirement System for the City of New York.

Unencumbered Assets Trust and Erwin I. Katz, Ltd., Trustee, Pro se.

John Edward Haller, Katie L. Tournoux, Shumaker, Loop & Kendrick, LLP, Columbus, OH, Robert H.B. Cawood, Roy L. Mason, Mason, Cawood & Hobbs, P.A., Annapolis, MD, for Barbara Poulsen, Lance K. Poulsen, Flohaz Partners, L.L.C., Healthcare Capital LLC, Intercontinental Investment Associates, Kachina, Inc., South Atlantic Investments, L.L.C., Thor Capital Holdings, L.L.C. Thor Capital Holdings LLC, Kuld Corp.

Scott Humphries, Gibbs & Burns LLP, Houston, TX, for State of Arizona, Crown Cork & Seal Company Inc.

R. Eric Bilik, C. Todd Willis, McGuire-Woods LLP, Jacksonville, FL, David M. Wells, for Suzanne K. Hosch, Cedric Johnson, Sam Romeo, Albert Marston.

Brian Edward Dickerson, Maguire & Schneider L.L.P., for E & D Investments, Elyse Ayers, Ayers LLC, Donald NMI Ayers.

Lynne M. Longtin, Robert Frederic Brown, Arthur Edmund Phelps, Jr., Rendigs Fry Kiely & Dennis LLP, Cincinnati, OH, Luan K. Phan, Paz & Phan LLP, Los Angeles, CA, for Mitchell Stein, TSI Technologies and Holdings LLC., Swabb Financial LLC.

William A. Escobar, John M. Callagy, Kelley Drye & Warren LLP, Douglas H. Flaum, Lara Turcik, Shazeb Lari, Israel David, Fried, Frank, Harris, Shriver & Jacobson LLP, New York City, William Chester Wilkinson, Thompson Hine LLP, Jessica L. Davis, Roetzel & Andress, Columbus, OH, for JP Morgan Chase & Co., JP Morgan Partners, LLC, JP Morgan Chase Bank, Beacon Group III-Focus Value Fund, L.P., Beacon Group, LLC, J.P. Morgan Chase Partners, L.P., JP Morgan Chase Bank, N.A.

Stanley H. Wakshlag, Kenny Nachwalter, PA, Brian Paul Miller, Akerman Senterfitt, Miami, FL, for John F. Andrews.

Roger Philip Sugarman, Kegler Brown Hill & Ritter Columbus, OH, for Shattan Group LLC.

Benjamin Scot Zacks, Zacks Law Group, Columbus, OH, for Cheyenne-Blaze LLC., Rebecca NMI Parrett, Rebecca S. Parrett.

Matthew B. Andelman, Craig D. Singer, Williams & Connolly, Washington, DC, for Joanne D. Purcell, Cary W. Purcell, Purcell & Scott Co. LPA, Scott & Purcell, C L.P.A.

Matthew L. Fornshell, Schottenstein Zox & Dunn, Columbus, OH, Kyle A. Lonergan, Barry Ostrager, Mary Kay Vyskocil, Simpson Thacher & Bartlett, LLP, New York City, for Eric R. Wilkinson, Thomas G. Mendell, Harold W. Pote.

Evan A. Davis, Cleary Gottlieb Steen & Hamilton LLP, New York City, for Deloitte & Touche, L.L.P.

McNamara and McNamara, L.L.P., Columbus, OH, for Deloitte & Touche, L.L.P.

Jason M. Koral, William H. O'Brien, William J. Schwartz, Cooley Godward Kronish, Mina Audrey Kim, Kronish Lieb Weiner & Hellman LLP, Robert Colby Allsbrook, King & Spalding LLP, Susan F. Dicicco, McKee Nelson LLP, New York City, Sherri Blank Lazear, Thomas Leslie Long, Baker & Hostetler, Columbus, OH, for Credit Suisse First Boston Corporation.

C. William Phillips, Covington & Burling LLP, New York City, James M. Garland, Gary Rubman, Covington & Burling, Washington, DC, for Bank One Capital Markets, Inc., Bank One National Association, Bank One, N.A.


OPINION AND ORDER ON CERTAIN MOTIONS TO DISMISS FILED BY THE OUTSIDE DIRECTORS

GRAHAM, District Judge.

This matter is before the Court on motions to dismiss filed by Harold W. Pote, Eric R. Wilkinson, and Thomas G. Mendell (the "Outside Directors"). Several investor plaintiffs have filed claims against the Outside Directors for their alleged roles in the collapse of National Century Financial Enterprises, Inc. The claims include ones under federal...

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