This class action lawsuit was filed in the United States District Court for the Northern District of Oklahoma under the caption "In Re Williams Securities Litigation." This Action was brought on behalf of those who purchased Williams Communications Group securities during the period from July 24, 2000 through April 22, 2002.

In April 2006, defendants filed (1) motions to exclude certain testimony of plaintiffs’ expert witnesses and (2) motions for summary judgment seeking dismissal of the lawsuit. Plaintiffs filed their opposition to the motions, and the Court heard oral argument on the motions.

On July 6, 2007, the Court issued a Memorandum Opinion and Order (1) granting defendants' motions to exclude certain testimony of plaintiffs' expert witnesses, and (2) granting (in whole or in part) defendants' motions for summary judgment. Given the Court’s decision on defendants’ motions, the Court entered a Judgment dismissing this lawsuit in its entirety.

On August 3, 2007, Plaintiffs filed a Notice of Appeal indicating their appeal of the Court's rulings to the United States Court of Appeals for the Tenth Circuit.

On January 7, 2008, Plaintiffs filed their principal brief in support of their appeal.  On March 12, 2008, Defendants filed their briefs in opposition, and Plaintiffs filed their reply brief on April 30, 2008. The appeal is now fully briefed, and the parties are waiting for the Court to schedule a date for oral argument on the appeal.

We will provide updated information as further developments occur.