SEPTEMBER NEWSLETTER

Faruki Ireland & Cox P.L.L. is pleased to introduce its new firm name, which debuted August 21, 2002.  A copy of our press release announcing this change is posted on this site and accessible by clicking on www.ficlaw.com/pressr.htm.  Please note that our web address is now:  www.ficlaw.com.

Within the last month the Court of Appeals for the Second Appellate District (Montgomery County, Ohio), affirmed a trial court award of summary judgment to FG&I's client The Dayton Power and Light Company

FI&C associate Ron Raether has been selected as a member of the Management Committee and as Chair of the Committee on Educational Programming for Dayton's technology business incubator, the "i-Zone."  Organized just over two years ago by several of Dayton's leading, established technology businesses, the i-Zone is a "one stop shop" that helps "connect the dots" for technology-oriented entrepreneurs by providing funding, advice and counsel, professional services and space.  The i-Zone is facilitated by a dynamic group of seasoned volunteers, organizations and business and professional interests representing both the public and private sector.

FI&C has been representing DPL Inc. (the parent company of The Dayton Power and Light Company) and the other DPL defendants in two shareholder suits, containing class action and derivative claims, filed in Dayton and Cincinnati recently.  Both suits were removed to U.S. District Court under the Securities Litigation Uniform Standards Act (“SLUSA”).  SLUSA is one of the pieces of securities litigation reform legislation that is of relatively recent origin; it has not been interpreted or applied by the district courts in Dayton and Cincinnati in which these cases are pending (a motion to consolidate both cases in Dayton in pending).  On August 23, 2002, Charlie Faruki argued for the Defendants, to District Judge Sandra Beckwith, the Plaintiffs’ Motion to Remand the Cincinnati action to Common Pleas Court.  In that motion Plaintiffs were contesting the removal to federal court under SLUSA of the Cincinnati action .  After several hours of argument, Judge Beckwith ruled from the bench, denying the Motion to Remand, and stating that a written opinion will follow.  The effect of this ruling was to prevent the plaintiffs from achieving their expressed intention of having two putative class actions pending, one in federal court and one in state court.