Wednesday, June 14, 2006

Williams Companies Settlement (Part III)

OK folks - This is really the last update.

As noted earlier, the related litigation on behalf of Williams Communications shareholders is still pending.

The class in that case was just certified on Monday by Judge Stephen P. Friot.

Co-lead counsel for the Williams Communications sub-class are Yourman Alexander & Parekh LLP and Milberg Weiss Bershad & Schulman LLP.

As noted previously, a copy of the amended complaint is available here and the opinions on the motions to dismiss are available here.

The lead plaintiff (and one of the class representatives) for the Williams Communications sub-class is Alex Meruelo. With the power of Google, I now know that Mr. Meruelo is the founder of La Pizza Loca, Inc., a fast food pizza restaurant with about 50 franchised and company owned restaurants throughout Southern California. According to Pizza Today Magazine, La Pizza Loca is the 61st largest pizza company in the United States.

Mr. Meruelo is also a member of the board of directors and chairman of the audit committee of Commercial Bank of California and a member of the board of William Lyon Homes one of the nation's largest homebuilders.

As though that was not enough, Mr. Meruelo is also the President and CEO of Meruelo Enterprises, a residential and commercial real estate concern and utility construction contractor, and the President and CEO of Cantamar Property Management.

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