Diamond Multimedia Systems, Inc. - Securities Class Action

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_______________
Copyright (c) 2001
Stanford Law School

Diamond Multimedia Systems, Inc. Conclusion: According to the docket, on March 27, 2000, the Court entered the Minutes granting the motion for voluntary dismissal of the action. Two days later, the Court entered the Order by U.S. District Judge Saundra B. Armstrong dismissing action with prejudice. Earlier on April 14, 1999, the Court entered a Letter to Judge Armstrong dated April 12, 1999, from the Plaintiff’s counsel advising defendants of the intention to dismiss the federal action and to proceed in state court.

The complaint charges Diamond and certain of its officers and directors with violations of the California Corporations and Civil Codes by making misrepresentations about Diamond's business, products, earnings growth and financial statements and its ability to continue to achieve profitable growth. The complaint alleges that by issuing these allegedly false and misleading statements, defendants artificially inflated Diamond's stock price to a Class Period high of $43 in December 1995, allowing Diamond and Diamond insiders to sell or otherwise distribute 4 million shares of their Diamond stock for proceeds of more than $115 million, before the true facts about Diamond's troubled operations, diminished profitability and overvalued inventory were revealed and Diamond's stock collapsed to as low as $9-1/8 per share.

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

COMPANY/ISSUER NAME:	Diamond Multimedia Systems, Inc.
COMPANY/ISSUER TICKER:	DIMD
COMPANY WEBSITE:	http://www.diamondmm.com

FIRST IDENTIFIED COMPLAINT IN THE DATABASE

Frazier, et al. v. Diamond Multimedia Systems, Inc., et al.

COURT: N.D. California	DOCKET NUMBER: 96-CV-2644
JUDGE NAME: Hon. Saundra B. Armstrong
DATE FILED: 07/24/1996	SOURCE: Internet
CLASS PERIOD START: 11/01/1995	CLASS PERIOD END: 06/20/1996
TYPE OF COMPLAINT: Unamended/Unconsolidated
PLAINTIFF FIRMS IN THIS OR SIMILAR CASE:
McKenna & Cuneo, LLP Steuart Street Tower, One Market, San Francisco, CA, 94105-1475 (voice) 415.267.4000, (fax) 415.267.4198, christian_volz@mckennacuneo.com Sirota & Sirota, LLP 110 Wall Street 21st Floor, New York, NY, 10005 (voice) 888.759.2990, (fax) 212.425.9093, Info@SirotaLaw.com _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 2

DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT
Class Action Complaint
Type: Complaint		Date on the document: 07/24/1996
Order Re Appointment of Lead Plaintiff and Lead Counsel
Type: Order		Date on the document: 01/13/1997

REFERENCE COMPLAINT

Frazier, et al. v. Diamond Multimedia Systems, Inc., et al.

COURT: N.D. California	DOCKET NUMBER: 96-CV-2644
JUDGE NAME: Hon. Saundra B. Armstrong
DATE FILED: 03/10/1997	SOURCE: Business Wires
CLASS PERIOD START: 11/01/1995	CLASS PERIOD END: 06/20/1996
TYPE OF COMPLAINT: Consolidated and/or Amended
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Abbey Gardy & Squiteri LLP 595 Market Street, Suite 2500, San Francisco, CA, 94105 (voice) 415.538.3725, (fax) , Bernstein Litowitz Berger & Grossmann LLP (New York, NY) 1285 Avenue of the Americas, 33rd Floor, New York, NY, 10019 (voice) 212.554.1400, (fax) 212.554.1444, blbg@blbglaw.com McKenna & Cuneo, LLP Steuart Street Tower, One Market, San Francisco, CA, 94105-1475 (voice) 415.267.4000, (fax) 415.267.4198, christian_volz@mckennacuneo.com Milberg, Weiss, Bershad, Hynes & Lerach LLP (San Diego, CA) 600 West Broadway, 1800 One America Plaza, San Diego, CA, 92101 (voice) 800.449.4900, (fax) , support@milberg.com Milberg, Weiss, Bershad, Hynes & Lerach, LLP (S.F., CA) 100 Pine Street - Suite 2600, San Francisco, CA, 94111 (voice) 415.288.4545, (fax) 415.288.4534, Sirota & Sirota, LLP 110 Wall Street 21st Floor, New York, NY, 10005 (voice) 888.759.2990, (fax) 212.425.9093, Info@SirotaLaw.com _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 6

DOCUMENTS FOR THE REFERENCE COMPLAINT
Declaration of Sallie A. Blackman
Type: Declaration		Date on the document: 04/08/1997
Plaintiffs' Memorandum of Points and Authorities in Opposition to Defendant Chong-Moon Lee's Motion to Dismiss Amended Consolidated Class Action Complaint
Type: Other		Date on the document: 04/08/1997
Plaintiffs' Memorandum of Points and Authorities in Opposition to Diamond Defendants' Motion to Dismiss Amended Consolidated Class Action Complaint
Type: Other		Date on the document: 04/08/1997
Reply Memorandum in Support of Defendant Chong-Moon Lee's Motion to Dismiss the Amended Consolidated Class Action Complaint
Type: Other		Date on the document: 04/15/1997
Declaration of John K. Grant in Support of Submission Addressing Recent Authorities in Further Support of Plaintiffs' Oppositions to Defendants' Motions to Dismiss
Type: Declaration		Date on the document: 06/06/1997
Submission Addressing Recent Authorities in Further Support of Plaintiffs' Oppositions to Defendants' Motions to Dismiss
Type: Other		Date on the document: 06/06/1997
Plaintiffs' Statement of Recent Decisions Pursuant to Local Rule 7-3(e) in Further Support of Plaintiffs' Oppositions to Defendants' Motions To Dismiss
Type: Other		Date on the document: 02/26/1998
Plaintiffs' Statement Of Recent Decisions Pursuant To Local Rule 7-3(E) In Further Support Of Plaintiffs' Opposition To Defendants' Motions To Dismiss
Type: Other		Date on the document: 08/11/1998
Plaintiffs' Request For Judicial Notice & Supp. Submission Of Authority In Opposition To Defendants' Motion To Dismiss Plaintiffs' Amend. Consolid. Class Action Compla
Type: Other		Date on the document: 01/22/1999
Plaintiffs' Further Statement Of Recent Decisions Pursuant To Local Rule 7-3(E) In Support Of Plaintiffs' Opposition To Defendants' Motions To Dismiss
Type: Other		Date on the document: 01/26/1999
CIVIL DOCKET FOR CASE #: 96-CV-2644
Type: Docket		Date on the document: 03/17/1999
CIVIL DOCKET FOR CASE #: 96-CV-2644
Type: Docket		Date on the document: 03/17/1999
Party and Counsel List
Type: Other		Date on the document: 03/17/1999
Party and Counsel List
Type: Other		Date on the document: 03/17/1999
Plaintiffs' Notice Of Motion And Motion For Voluntary Dismissal Of Action And Memorandum Of Points And Authorities In Support Thereof
Type: Motion		Date on the document: 04/30/1999
U.S. District Court Civil Docket
Type: Docket		Date on the document: 12/05/2001

OTHER DOCUMENTS
Petition for Peremptory Writ of Mandate or Other Appropriate Relief; Memorandum of Points and Authorities in Support Thereof
Case Name and/or Number: Diamond MultiMedia Sys., Inc. v. Superior Court
Type: Other		Date on the document: 02/09/1996
Memorandum of Points and Authorities in Support of the Diamond Defendants' Demurrer and Motion to Strike
Case Name and/or Number: Pass, et al., v. Huh, et al
Type: Motion		Date on the document: 09/23/1996
Memorandum Supporting Defendants' Motion to Stay Proceedings
Case Name and/or Number: Pass, et al., v. Huh, et al
Type: Motion		Date on the document: 09/27/1996
Defendants' Reply Memorandum in Support of Their Demurrer and Motion to Strike
Case Name and/or Number: Pass, et al., v. Huh, et al
Type: Motion		Date on the document: 12/02/1996
Brief of the Securities Industry Association, the National Venture Capital Association and the American Electronics Association Amici Curiae in Support of Petitioners
Case Name and/or Number: Diamond MultiMedia Sys., Inc. v. Superior Court
Type: Brief		Date on the document: 07/30/1997
Order
Case Name and/or Number: Diamond MultiMedia Sys., Inc. v. Superior Court
Type: Order		Date on the document: 08/21/1997
Opinion
Case Name and/or Number: Diamond MultiMedia Sys., Inc. v. Superior Court
Type: Other		Date on the document: 01/11/1999
U.S. District Court Civil Docket
Case Name and/or Number: Mayfield, et al v. Huh, et al
Type: Docket		Date on the document: 03/28/2000
Notice Of Pendency And Proposed Settlement Of Class And Derivative Actions
Case Name and/or Number: Joanne Pass, et al. v. Hyung Hwe Huh, et al.
Type: Notice		Date on the document: 01/09/2002

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