Destron Fearing Corporation - Securities Class Action

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_______________
Copyright (c) 2001
Stanford Law School

Destron Fearing Corporation Conclusion: According to the Company’s FORM 10-Q For the Quarterly Period Ended June 30, 1999, at the January 29, 1999 Annual Meeting of the Company's shareholders, the shareholders authorized the Company's Board of Directors to carry out the reverse stock split at any time before April 1, 1999. Due to increases in the price of the Company's common stock as quoted on The Nasdaq SmallCap Market, the Board determined to forgo the reverse stock split and allowed its authority to execute the stock split to expire unexercised on April 1, 1999. In view of that development, the plaintiffs in the class action lawsuit agreed to dismiss the complaint with prejudice and without any further cost to the Company. Based on this agreement, on July 29, 1999, Judge Rosenbaum dismissed the plaintiffs' complaint with prejudice and without costs to either party. Thus, this matter has been concluded.

The class action complaint charges Destron issued a proxy statement containing false and misleading statements about Destron shareholders' ability to exercise dissenters' rights in connection with their voting on Destron's proposed reverse stock split. The complaint also alleges that Destron's acts have damaged shareholders and that the false and misleading statements contained in the proxy statement violate the federal securities laws. Destron's president and CEO is also named in the suit.

INDUSTRY CLASSIFICATION:
SIC Code: 3663
Sector: Technology
Industry: Communications Equipment

COMPANY/ISSUER NAME:	Destron Fearing Corporation
COMPANY/ISSUER TICKER:	DFCO
COMPANY WEBSITE:	http://www.destron.com

FIRST IDENTIFIED COMPLAINT IN THE DATABASE

Theodor H. Herman, et al. v. Destron Fearing Corporation, et al.

COURT: D. Minnesota	DOCKET NUMBER: 99-CV-00137
JUDGE NAME: Hon. James M. Rosenbaum
DATE FILED: 01/28/1999	SOURCE: Internet
CLASS PERIOD START: 12/29/1998	CLASS PERIOD END: 01/28/1999
TYPE OF COMPLAINT: Complaint (Unamended and Unconsolidated)
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Lockridge, Grindal, Nauen P.L.L.P. Suite 301, 660 Pennsylvania Avenue Southeast, Washington, DC, 20003-4335 (voice) 202.544.9840, (fax) 202.544.9850, Reinhardt, Wendorf & Blanchfield Attorneys at Law E-1000 First National Bank Building, 332 Minnesota Street, St. Paul, MN, 55101 (voice) 800.465.1592, (fax) 651.297.6543, info@ralawfirm.com _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 2

DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT
Complaint - Jury Trial Demanded
Type: Complaint		Date on the document: 01/28/1999
CIVIL DOCKET FOR CASE #: 99-CV-137
Type: Docket		Date on the document: 03/17/1999
Stipulation and Order
Type: Order		Date on the document: 07/30/1999
U.S. District Court Civil Docket
Type: Docket		Date on the document: 07/30/1999

OTHER DOCUMENTS

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

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