Centennial Technologies, Inc. - Securities Class Action

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_______________
Copyright (c) 2001
Stanford Law School

Centennial Technologies, Inc. Conclusion: According to the firm's 10-K, on February 9, 1998, a consolidated amended complaint combining this suit and other litigation was filed in the United States District Court for the District of Massachusetts (the "Consolidated Litigation"). Also on February 9, 1998, the Company and lead counsel representing the plaintiffs in the Consolidated Litigation filed a Stipulation of Settlement (the "Settlement Agreement"), whereby the Company and certain of its officers and directors would be released from liability arising from the allegations included in the Consolidated Litigation. In return, the Company agreed to pay the plaintiffs in the Consolidated Litigation $1.475 million in cash and to issue to these plaintiffs 37% of the Company's Common Stock. The Company also agreed to adopt certain corporate governance policies and procedures. The Court granted final approval of the Settlement Agreement of the Consolidated Litigation on April 29, 1998.

The original complaint charged Centennial and certain of its officers with violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. The complaint alleges that during the Class Period, Centennial misrepresented material information concerning the company's revenues and net earnings for, at least, its fiscal year ended June 30, 1996, reported on Aug. 21, 1996, and its quarterly reporting periods for the first and second quarters of 1997. In particular, the complaint alleged that Centennial reported revenues and net earnings which were artificially inflated and materially overstated during the Class Period.

INDUSTRY CLASSIFICATION:
SIC Code: 3577
Sector: Technology
Industry: Computer Peripherals

COMPANY/ISSUER NAME:	Centennial Technologies, Inc.
COMPANY/ISSUER TICKER:	CTN
COMPANY WEBSITE:	http://www.cent-tech.com/

FIRST IDENTIFIED COMPLAINT IN THE DATABASE

Schwartz and Finkelstein, et al. v. Centennial Technologies, Inc., et al.

COURT: D. Massachusetts	DOCKET NUMBER: 97-CV-10304
JUDGE NAME: Robert E. Keeton
DATE FILED: 02/11/1997	SOURCE: Internet
CLASS PERIOD START: 08/21/1996	CLASS PERIOD END: 02/10/1997
TYPE OF COMPLAINT: Unamended/Unconsolidated
PLAINTIFF FIRMS IN THIS OR SIMILAR CASE:
Abraham, Fruchter & Twersky 60 East 42 Street, New York, NY, 10021 (voice) 212.687.6655, (fax) , Bernstein Liebhard & Lifshitz LLP (New York, NY) 10 E. 40th Street, 22nd Floor, New York, NY, 10016 (voice) 800.217.1522, (fax) , info@bernlieb.com Milberg Weiss Bershad Hynes & Lerach LLP (New York, NY) One Pennsylvania Plaza, New York, NY, 10119-1065 (voice) 212.594.5300, (fax) , Moulton & Welburn 99 Summer Street - Suite 1420, Boston, MA, 02110-1200 (voice) 617.737.8383, (fax) , _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 4

DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT
Class Action Complaint for Violation of Federal Securities Laws
Type: Complaint		Date on the document: 02/11/1997

REFERENCE COMPLAINT

In re Centennial Technologies, Inc. Litigation

COURT: D. Massachusetts	DOCKET NUMBER: 97-CV-10304
JUDGE NAME: Robert E. Keeton
DATE FILED: 02/09/1998	SOURCE: Business Wires
CLASS PERIOD START: 08/21/1996	CLASS PERIOD END: 02/10/1997
TYPE OF COMPLAINT: Consolidated and/or Amended
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Abraham, Fruchter & Twersky 60 East 42 Street, New York, NY, 10021 (voice) 212.687.6655, (fax) , Berman DeValerio Pease Tabacco Burt & Pucillo (MA) One Liberty Square, Boston, MA, 2109 (voice) 617.542.8300, (fax) 617.230.0903, info@bermanesq.com Bernstein Liebhard & Lifshitz LLP (New York, NY) 10 E. 40th Street, 22nd Floor, New York, NY, 10016 (voice) 800.217.1522, (fax) , info@bernlieb.com Milberg Weiss Bershad Hynes & Lerach LLP (New York, NY) One Pennsylvania Plaza, New York, NY, 10119-1065 (voice) 212.594.5300, (fax) , Moulton & Gans LLP 133 Federal Street, Boston, MA, 2110 (voice) 617.369.7979, (fax) , _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 5

DOCUMENTS FOR THE REFERENCE COMPLAINT
Final Order And Judgment Awarding Attorneys' Fees And Reimbursement Of Expenses
Type: Order		Date on the document: 04/29/1998
Memorandum and Order on Issue Formulation and Practice and Procedure Order No. 3
Type: Order		Date on the document: 08/17/1998
U.S. District Court Civil Docket
Type: Docket		Date on the document: 08/23/2000
U.S. District Court Civil Docket
Type: Docket		Date on the document: 11/26/2002

OTHER DOCUMENTS

Case Name and/or Number:
Type:		Date on the document:

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