District Court, S.D. New York May 20, 2002, 21 MC 92(SAS) (In Re Initial Public Offering Securities Litigation)

ORDER

SCHEINDLIN, District Judge.

The Private Securities Litigation Reform Act (“PSLRA”) mandates that “all discovery and other proceedings shall be stayed during the pendency of any motion to dismiss [a complaint brought under the 1933 Securities Act or the 1934 Exchange Act],

unless

the court finds upon the motion of any party that particularized discovery is necessary to preserve evidence

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