Versant Object Technology Corporation - Securities Class Action

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_______________
Copyright (c) 2001
Stanford Law School

Versant Object Technology Corporation Summary: According to the Company’s FORM 10-K for the fiscal year ended October 31, 2002, on December 13, 2001, plaintiffs filed a notice of appeal to the Ninth Circuit Court of Appeals. On May 2, 2002, the plaintiffs, now as appellants, filed an opening brief alleging the dismissal was in error and should be reversed. The Company filed its answering brief on July 12, 2002, and the appellants filed their reply brief on August 9, 2002. Oral arguments were heard on January 14, 2003 and on January 23, 2003 the Court of Appeals affirmed the District Court’s dismissal.

Previously, according to the same SEC filing, the Company and certain of its present and former officers and directors were named as defendants in four class action lawsuits filed in the United States District Court for the Northern District of California on January 26, 1998, February 5, 1998, March 11, 1998 and March 18, 1998. On June 19, 1998, a Consolidated Amended Complaint was filed by the court-appointed lead Plaintiff. After the court dismissed two amended complaints, plaintiffs filed a Third Amended Complaint on May 10, 2001 that alleged violations of Sections 10(b) and 20(a) of the Securities Exchange Act, and Securities and Exchange Commission Rule 10b-5 promulgated under the Securities Exchange Act, in connection with public statements about Versant and its financial performance. On December 4, 2001, the court dismissed the Third Amended Complaint with prejudice due to Plaintiff’s failure to state a claim of their securities fraud action.

The original Complaint alleges that defendants participated in a scheme or common course of conduct to artificially inflate Versant's stock price so that they could maintain their lucrative positions and so that they could dispose of a portion of their own holdings at artificially inflated prices. Furthermore, the complaint alleges that as a result of defendants' false statements, misrepresentations, and omissions, the price of Versant's common stock was artificially inflated during the Class Period and that Versant's stock was then maintained at an artificially inflated level until the defendants disclosed the dismal financial condition of the Company on or about January 13, 1998. These disclosures caused the stock price of Versant to plummet from $9 3/8, on January 12, 1998, to $5 1/8 on January 13, 1998 on volume of 2,528,700 shares, a drop of 45% in one day and a drop of over 70% from the stock's high of $18 1/4 on October 21, 1997.

INDUSTRY CLASSIFICATION:
SIC Code: 7372
Sector: Technology
Industry: Software & Programming

COMPANY/ISSUER NAME:	Versant Object Technology Corporation
COMPANY/ISSUER TICKER:	VSNT
COMPANY WEBSITE:	http://www.versant.com/us/index.html

FIRST IDENTIFIED COMPLAINT IN THE DATABASE

Wilkes, et al. v. Versant Object Technology Corporation, et al.

COURT: N.D. California	DOCKET NUMBER: 98-CV-0299
JUDGE NAME: Hon. Claudia Wilken
DATE FILED: 01/26/1998	SOURCE: Business Wires
CLASS PERIOD START: 04/28/1997	CLASS PERIOD END: 01/13/1998
TYPE OF COMPLAINT: Unamended/Unconsolidated
PLAINTIFF FIRMS IN THIS OR SIMILAR CASE:
Weiss & Yourman (New York, NY) The French Building, 551 Fifth Ave., Suite 1600, New York, NY, 10126 (voice) 212.682.3025, (fax) 212.682.3010, info@wyca.com _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 1

DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT
Class Action Complaint For Violations Of The Securities Exchange Act Of 1934 - Jury Trial Demanded
Type: Complaint		Date on the document: 01/26/1998
Declaration of Craig D. Martin in Support of Motion To Dismiss Complaint
Type: Declaration		Date on the document: 03/27/1998
Defendants' Notice of Motion and Motion To Dismiss Complaint for Violation of the Securities Exchange Act of 1934; Supporting Memorandum of Points and Authorities
Type: Notice		Date on the document: 03/27/1998
Declaration Of John K. Grant In Support Of Geffen Group's Notice Of Motion, Motion, And Memorandum Of Points And Authorities In Support Of Motion To Be Appointed Lead Plaintiffs Pursuant TO §21D(a)(3)(B) Of The Securities Exchange Act Of 1934 And For Appointment Of Lead Plaintiffs' Selection Of Co-Lead Counsel
Type: Declaration		Date on the document: 03/30/1998
Declaration Of Vahn Alexander In Support Of Movants' Motion For Appointment Of Lead Plaintiffs And Lead Counsel Pursuant To Section 21D Of The Securities Exchange Act Of 1934 And For Consolidation Of All Related Actions
Type: Declaration		Date on the document: 03/30/1998
Geffen Group's Notice Of Motion, Motion, And Memorandum Of Points And Authorities In Support Of Motion To Be Appointed Lead Plaintiffs Pursuant To §21D(a)(3)(B) Of The Securities Exchange Act Of 1934 And For Appointment Of Lead Plaintiffs' Selection Of Co-Lead Counsel
Type: Notice		Date on the document: 03/30/1998
Notice of Motion and Motion To Consolidate Cases for All Purposes and Memorandum of Points and Authorities in Support Thereof
Type: Notice		Date on the document: 03/30/1998
Memorandum Of Points And Authorities In Support Of Movants' Motion For Appointment Of Lead Plaintiffs And Lead Counsel Pursuant To Section 21D Of The Securities Exchange Act Of 1934 And For Consolidation Of All Related Actions
Type: Motion		Date on the document: 04/02/1998

REFERENCE COMPLAINT

In Re: Versant Object Technology Corporation Securities Litigation

COURT: N.D. California	DOCKET NUMBER: 98-CV-0299
JUDGE NAME: Hon. Claudia Wilken
DATE FILED: 05/10/2001	SOURCE: Business Wires
CLASS PERIOD START: 04/28/1997	CLASS PERIOD END: 01/13/1998
TYPE OF COMPLAINT: Third Amended
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Barrack, Rodos & Bacine (San Diego) 402 West Broadway , San Diego, CA, 92101 (voice) 619.230.0800, (fax) 619.230.1874, info@barrack.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 (S.F., CA) 100 Pine Street - Suite 2600, San Francisco, CA, 94111 (voice) 415.288.4545, (fax) 415.288.4534, 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 _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 4

DOCUMENTS FOR THE REFERENCE COMPLAINT
Consolidated Amended Class Action Complaint for Violation of the Securities Exchange Act of 1934
Type: Complaint		Date on the document: 06/19/1998
Declaration of Craig D. Martin in Support of Defendants' Motion To Dismiss Consolidated Amended Complaint for Violation of the Securities Exchange Act of 1934
Type: Declaration		Date on the document: 07/17/1998
Defendants' Notice of Motion and Motion To Dismiss Consolidated Amended Complaint for Violation of the Securities Exchange Act of 1934; Supporting Memorandum Of Points And Authorities
Type: Notice		Date on the document: 07/17/1998
Declaration of John K. Grant in Support of Plaintiffs' Memorandum of Points and Authorities in Opposition to Defendants' Motion To Dismiss
Type: Declaration		Date on the document: 09/03/1998
Plaintiffs' Memorandum of Points & Authorities in Opposition to Defendants' Motion To Dismiss
Type: Motion		Date on the document: 09/03/1998
Defendants' Reply Memorandum in Support of Motion To Dismiss Consolidated Amended Complaint
Type: Motion		Date on the document: 10/02/1998
Plaintiffs' Statement of Recent Decisions Pursuant to Local Rule 7-3(e) in Support of Plaintiffs' Opposition to Defendants' Motion To Dismiss
Type: Motion		Date on the document: 10/14/1998
Plaintiffs' Statement of Recent Authority and Request for Judicial Notice
Type: Order		Date on the document: 11/12/1998
Defendants' Statement of Recent Decision in Support of Motion to Dismiss Consolidated Amended Complaint [Civ. L. R. 7-3(e)]
Type: Motion		Date on the document: 07/06/1999
Defendants' Notice of Motion and Motion to Dismiss Consolidated Amended Complaint for Violation of the Securities Exchange Act of 1934
Type: Notice		Date on the document: 12/23/1999
Declaration of John K. Grant in Support of Plaintiffs' Memorandum of Points and Authorities in Opposition to Defendants' Motion to Dismiss
Type: Declaration		Date on the document: 02/14/2000
Plaintiffs' Memorandum of Points and Authorities in Opposition to Defendants' Motion to Dismiss
Type: Motion		Date on the document: 02/14/2000
Defendants' Reply Memorandum in Support of Motion to Dismiss the Consolidated Amended Complaint
Type: Motion		Date on the document: 03/10/2000
CIVIL DOCKET FOR CASE #: 98-CV-299
Type: Docket		Date on the document: 03/14/2000
Litigants
Type: Other		Date on the document: 03/14/2000
Declaration of Lawrence R. Katzin in Support of Katzin Defendants' Motion to Dismiss Third Amended Consolidated Complaint
Type: Declaration		Date on the document: 06/22/2001
Defendants' Notice of Motion and Motion to Dismiss Third Amended Consolidated Complaint; Supporting Memorandum of Points and Authorities
Type: Notice		Date on the document: 06/22/2001
Reply Brief In Support Of Defendants’ Motion To Dismiss Plaintiffs’ Third Amended Consolidated Complaint
Type: Complaint		Date on the document: 08/31/2001
U.S. District Court Civil Docket
Type: Docket		Date on the document: 03/10/2003

OTHER DOCUMENTS
Complaint for Violation of the Securities Exchange Act of 1934
Case Name and/or Number: Geffen, et al., v. Versant Object Technology Corp., et al
Type: Complaint		Date on the document: 02/05/1998
Complaint for Violation of the Securities Exchange Act of 1934
Case Name and/or Number: Luu v. Versant Object Technology, et al
Type: Complaint		Date on the document: 03/11/1998
Complaint for Violation of the Securities Exchange Act of 1934
Case Name and/or Number: Arnouville v. Versant Object Technology, et al
Type: Complaint		Date on the document: 03/18/1998
Declaration of Craig D. Martin in Support of Motion to Dismiss Complaint
Case Name and/or Number: Geffen, et al., v. Versant Object Technology Corp., et al
Type: Declaration		Date on the document: 03/23/1998
Defendants' Notice of Motion and Motion to Dismiss Complaint for Violation of the Securities Exchange Act of 1934; Supporting Memorandum of Points and Authorities
Case Name and/or Number: Geffen, et al., v. Versant Object Technology Corp., et al
Type: Notice		Date on the document: 03/23/1998
Declaration Of John K. Grant In Support Of Geffen Group's Notice Of Motion, Motion, And Memorandum Of Points And Authorities In Support Of Motion To Be Appointed Lead Plaintiffs Pursuant To §21D(a)(3)(B) Of The Securities Exchange Act Of 1934 And For Appointment Of Lead Plaintiffs' Selection Of Co-Lead Counsel
Case Name and/or Number: Geffen, et al., v. Versant Object Technology Corp., et al
Type: Declaration		Date on the document: 03/30/1998
Declaration Of John K. Grant In Support Of Geffen Group's Notice Of Motion, Motion, And Memorandum Of Points And Authorities In Support Of Motion To Be Appointed Lead Plaintiffs Pursuant To §21D(a)(3)(B) Of The Securities Exchange Act Of 1934 And For Appointment Of Lead Plaintiffs' Selection Of Co-Lead Counsel
Case Name and/or Number: Luu v. Versant Object
Type: Declaration		Date on the document: 03/30/1998
Declaration Of John K. Grant In Support Of Geffen Group's Notice Of Motion, Motion, And Memorandum Of Points And Authorities In Support Of Motion To Be Appointed Lead Plaintiffs Pursuant To §21D(a)(3)(B) Of The Securities Exchange Act Of 1934 And For Appointment Of Lead Plaintiffs' Selection Of Co-Lead Counsel
Case Name and/or Number: Arnouville v. Versant Object Technology, et al
Type: Declaration		Date on the document: 03/30/1998
Geffen Group's Notice Of Motion, Motion, And Memorandum Of Points And Authorities In Support Of Motion To Be Appointed Lead Plaintiffs Pursuant To §21D(a)(3)(B) Of The Securities Exchange Act Of 1934 And For Appointment Of Lead Plaintiffs' Selection Of Co-Lead Counsel
Case Name and/or Number: Geffen, et al., v. Versant Object Technology Corp., et al
Type: Notice		Date on the document: 03/30/1998
Geffen Group's Notice Of Motion, Motion, And Memorandum Of Points And Authorities In Support Of Motion To Be Appointed Lead Plaintiffs Pursuant To §21D(a)(3)(B) Of The Securities Exchange Act Of 1934 And For Appointment Of Lead Plaintiffs' Selection Of Co-Lead Counsel
Case Name and/or Number: Luu v. Versant Object Technology
Type: Notice		Date on the document: 03/30/1998
Geffen Group's Notice Of Motion, Motion, And Memorandum Of Points And Authorities In Support Of Motion To Be Appointed Lead Plaintiffs Pursuant To §21D(a)(3)(B) Of The Securities Exchange Act Of 1934 And For Appointment Of Lead Plaintiffs' Selection Of Co-Lead Counsel
Case Name and/or Number: Arnouville v. Versant Object Technology, et al
Type: Notice		Date on the document: 03/30/1998
Notice of Motion and Motion To Consolidate Cases for All Purposes and Memorandum of Points and Authorities in Support Thereof
Case Name and/or Number: Geffen, et al., v. Versant Object Technology Corp., et al
Type: Notice		Date on the document: 03/30/1998
Notice of Motion and Motion To Consolidate Cases for All Purposes and Memorandum of Points and Authorities in Support Thereof
Case Name and/or Number: Luu v. Versant Object Technology
Type: Notice		Date on the document: 03/30/1998
Notice of Motion and Motion To Consolidate Cases for All Purposes and Memorandum of Points and Authorities in Support Thereof
Case Name and/or Number: Arnouville v. Versant Object Technology, et al
Type: Notice		Date on the document: 03/30/1998
CIVIL DOCKET FOR CASE #: 98-CV-1079
Case Name and/or Number: Arnouville v. Versant Object Technology, et al
Type: Docket		Date on the document: 05/11/1998
CIVIL DOCKET FOR CASE #: 98-CV-969
Case Name and/or Number: Luu v. Versant Object Technology, et al
Type: Docket		Date on the document: 05/11/1998
Litigants
Case Name and/or Number: Luu v. Versant Object Technology, et al
Type: Other		Date on the document: 05/11/1998
Litigants
Case Name and/or Number: Arnouville v. Versant Object Technology, et al
Type: Other		Date on the document: 05/11/1998
CIVIL DOCKET FOR CASE #: 98-CV-440
Case Name and/or Number: Geffen, et al., v. Versant Object Technology Corp., et al
Type: Docket		Date on the document: 05/15/1998
Litigants
Case Name and/or Number: Geffen, et al., v. Versant Object Technology Corp., et al
Type: Other		Date on the document: 05/15/1998

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