According to the docket posted, on August 8, 2001, the Court entered the Stipulated Order of Dismissal. The action was dismissed with prejudice as to the named plaintiffs and without prejudice to the putative class, pursuant to Rule 41(a)(1) of the FRCP with all parties bearing their respective costs. The case was closed.

The original complaint charges that defendants violated Sections 14(a) and 20(a) of the Securities Exchange Act of 1934, and Rule 14a-9 promulgated thereunder, by disseminating a materially false and misleading proxy statement (the "Proxy Statement"). In connection with seeking shareholder approval of a merger between GTE and Bell Atlantic, defendants disseminated a Proxy Statement representing that the dividend of the post merger entity will be nearly identical to the current dividend of GTE. This statement was false when made because the post merger entity will release quarterly dividends one month later than GTE's customary dividend releases. Because of the over one billion outstanding shares of GTE, the one month delay will result in a material loss of the time value of the dividends.