Grand Casinos, Inc. - Securities Class Action

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_______________
Copyright (c) 2001
Stanford Law School

Grand Casinos, Inc. Conclusion: According to the docket posted, on May 4, 2001, the Court entered the Order granting the motion for preliminary approval of the settlement and certification of the class. That same day, the Court entered the Summary of Notice of Class Action, Proposed Settlement, and Settlement Hearing. The proposed Settlement of the litigation was in the amount of $9,000,000. On August 17, 2001, the Court entered the Final Judgment by John R. Tunheim. The Court approved the settlement set forth in the settlement agreement and the case was terminated.

Earlier, on March 30, 2000, the Court entered the Memorandum, Opinion, and Order granting in part and denying in part the defendants’ motion for summary judgment. The defendants' motion was granted with regard to the members of plaintiffs' putative class who did not purchase Grand common stock during the period from December 19, 1995 through June 6, 1996, inclusive, and their claims were dismissed with prejudice. The defendants’ motion was denied in all other respects.

In December 1997, the court granted the Company's motion to dismiss in part, and denied the motion in part. Thus, the plaintiffs pursued the claims in the consolidated complaint that survived the Company's motion to dismiss.

In re Grand Casinos, Inc. Securities Litigation was filed in the United States District Court for the District of Minnesota. The action constitutes a consolidation of two previously filed complaints initiated by individual shareholders. The consolidated complaint purports to seek relief on behalf of two classes of plaintiffs. The first class consists of individuals who purchased common stock of the Company during the period from December 19, 1995 through July 22, 1996. The second class consists of individuals who purchased common stock of the Company during the period from February 14, 1996 through February 22, 1996. The complaint alleges that the defendants violated Federal securities laws by making misrepresentations and engaging in proscribed trading activity.

INDUSTRY CLASSIFICATION:
SIC Code: 7011
Sector: Services
Industry: Hotels & Motels

COMPANY/ISSUER NAME:	Grand Casinos, Inc.
COMPANY/ISSUER TICKER:	GND
COMPANY WEBSITE:	http://www.grandcasinos.com

FIRST IDENTIFIED COMPLAINT IN THE DATABASE

Blake, et al. v. Grand Casinos, Inc., et al.

COURT: D. Minnesota	DOCKET NUMBER: 96-CV-890
JUDGE NAME: Hon. John R. Tunheim
DATE FILED: 09/09/1996	SOURCE: Business Wires
CLASS PERIOD START: 12/19/1995	CLASS PERIOD END: 07/22/1996
TYPE OF COMPLAINT: First Consolidated
PLAINTIFF FIRMS IN THIS OR SIMILAR CASE:
Heins Mills & Olson PLC 3550 IDS Center, 80 South Eighth Street, Minneapolis, MN, 55402 (voice) 612.338.4605, (fax) 612.338.4692, info@heinsmills.com Wolf, Popper, Ross, Wolf & Jones 845 Third Avenue, New York, NY, 10022-6689 (voice) 212-759-4600, (fax) , _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 2

DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT

Type:		Date on the document:

REFERENCE COMPLAINT

In re Grand Casinos, Inc. Securities Litigation

COURT: D. Minnesota	DOCKET NUMBER: 96-CV-890
JUDGE NAME: Hon. John R. Tunheim
DATE FILED: 12/23/1996	SOURCE: Business Wires
CLASS PERIOD START: 12/19/1995	CLASS PERIOD END: 07/22/1996
TYPE OF COMPLAINT: Consolidated and/or Amended
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Heins Mills & Olson PLC 3550 IDS Center, 80 South Eighth Street, Minneapolis, MN, 55402 (voice) 612.338.4605, (fax) 612.338.4692, info@heinsmills.com Wolf Popper, LLP 845 Third Avenue, New York, NY, 10022-6689Ave (voice) 877.370.7703, (fax) 212.486.2093, IRRep@wolfpopper.com _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 2

DOCUMENTS FOR THE REFERENCE COMPLAINT
Consolidated Amended Class Action Complaint
Type: Complaint		Date on the document: 12/23/1996
Docket
Type: Docket		Date on the document: 04/22/1998
Summary Notice Of Class Action, Proposed Settlement, And Settlement Hearing
Type: Notice		Date on the document: 05/02/2001
U.S. District Court Civil Docket
Type: Docket		Date on the document: 12/10/2002

OTHER DOCUMENTS
Class Action Complaint for Violation of N.R.S §§90.570 and 90.660, §§11 and 15 of the Securities Act
Case Name and/or Number: Opitz, et al. v. Stupak, et al.
Type: Complaint		Date on the document: 08/16/1996
Docket
Case Name and/or Number: Marcus , et al. Grand Casinos, Inc., et al.
Type: Docket		Date on the document: 04/07/1997

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