In re Herald, Primeo and Thema Funds Securities Litigation

Filing 142

ENDORSED LETTER addressed to Judge Richard M. Berman from Richard A. Martin dated 10/27/2010, re: Counsel for Defendant Ernst & Young S.A. ("EY Lux") write in reply to plaintiffs' letter to the Court dated October 26, 2010, sent in response to their request for a pre-motion conference. EY Lux submits that because plaintiffs no longer have a good faith basis to assert a Section 10(b) claim against EY Lux, this Court should dismiss the claim without subjecting EY Lux to the expense and delay of engaging in a full round of formal briefing involving a potentially wide array of issues. Plaintiffs also object to EY Lux's request, suggesting that they will not have sufficient time to analyze EY Lux's argument on an expedited basis. The Court should reject plaintiffs' transparent attempt to delay a prompt resolution of the claims, and allow the parties to address this issue in advance of the November 16, 2010 conference. ENDORSEMENT: We can discuss Defendant Ernst & Young's proposed motion at the status conference on 11/16/10. SO ORDERED. (Signed by Judge Richard M. Berman on 10/27/2010) (lnl)