Stipulation Would Stay AT&T Lead Cables Case Until N.J Court Rules on Motion to Dismiss

AT&T and Leon Peng, the plaintiff in a shareholder derivative suit alleging AT&T duped investors over its ownership of toxic lead cables (see 2402020001), agreed to stay Peng's case, pending developments in a separate case against AT&T in New Jersey, said their stipulation Thursday (docket 1:24-cv-00132) in U.S. District Court for Delaware in Wilmington. The stay would lift 30 days after the U.S. District Court for New Jersey rules on AT&T's forthcoming motion to dismiss plaintiff John Brazinsky’s securities fraud class action alleging similar claims against current and former AT&T officers and board members (see 2307300002), said the stipulation. In light of “the similarities and overlaps” between the two cases, the parties agree that a stay would “conserve the parties’ and judicial resources,” said the stipulation.