MEMORANDUM OF DECISION AND ORDER
SPATT, District Judge.
Presently before the Court is the Plaintiffs' motion to re-open the settlement reached in this case on June 16, 1999 as against Defendant Merrill, Lynch, Pierce, Fenner & Smith ("Merrill, Lynch"). On June 16, 1999, the parties appeared in open court and placed a stipulation of settlement of the above-referenced case on the record. The settlement provided, in relevant part:
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