Update:
Barrack, Rodos, & Bacine
3300 Two Commerce Square
2001 Market Street
Philadelphia, Pa.
19103
Fore Systems Security Litigation
November 23, 1999
"We are writing to bring you up to date on the work we are doing on your behalf in the Fore Systems securities case.
As we previously reported, the Magistrate Judge assigned to this case issued a report to presiding District Judge recommending that defendants' motion to dismiss the second amended complaint be denied. Defendants filed "objections" to the Magistrate's report and we filed papers arguing for the adoption of the report by the District Judge. We are pleased to report that the District Judge adopted the Magistrate's report and denied defendants' motion to dismiss.
We are precluded from obtaining further "discovery"--the process of obtaining documents from defendants and taking depositions--in this case while defendants' motion to dismiss was pending, but we are now recommending our discovery efforts now that the motion has been denied. Defendants have begun producing additional documents to plaintiffs, and the Magistrate Judge is holding periodic conferences with the parties to resolve disputes over the extent of documents that must be produced.
Under the current schedule, all discovery must be completed by April 15, 2000. After that, we expect that defendants will, once again, renew their efforts to obtain a dismissal of this lawsuit before the case can proceed to trial.
We will continue to provide you with periodic updates on the progress of this case." |
