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IN RE GLOBAL CROSSING, LTD. SECURITIES LITIGATION

No. 02 Civ. 910GEL.

322 F.Supp.2d 319 (2004)

In re GLOBAL CROSSING, LTD. SECURITIES LITIGATION

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

March 23, 2004.

Attorney(s) appearing for the Case

Jay W. Eisenhofer, Sidney S. Liebesman, Michael J. Barry, Lauren E. Wagner, and Marlon Q. Paz, Grant & Eisenhofer, P.A., Wilmington, DE, for Lead Plaintiffs Public Employees Retirement System of Ohio and State Teachers Retirement System of Ohio.

Peter Fleming Jr., Eliot Lauer, Jacques Semmelman, Jonathan Harris, Curtis, Mallet-Prevost, Colt & Mosle LLP, New York, NY, for Defendants Arthur Andersen LLP and the Individual Andersen Defendants.

OPINION AND ORDER

LYNCH, District Judge.

This consolidated class action arises from alleged accounting improprieties at the telecommunications firm Global Crossing, Ltd. ("GC"), during the period between February 1, 1999, and January 28, 2002, the "class period," that artificially inflated the company's stock price. According to the Consolidated Class Action Complaint, "[d]uring the Class Period, insiders sold over $1.5 billion in artificially inflated...

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