JDA Software Group, Inc. - Securities Class Action

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_______________
Copyright (c) 2001
Stanford Law School

JDA Software Group, Inc. Conclusion: On April 26, 2000, the Court entered a Judgment by U.S. District Judge John W. Sedwick granting the defendants motion, recorded in the Minute Entry on March 23, 2000, to dismiss both the consolidated amended complaint and the class action complaint.

As summarized by the Company’s FORM 10-K for the fiscal year ended December 31, 1999, following the filing of the Bernat action, lawsuits were filed by Norman Wiss, Theodore J. Bloukos, Gwen Werboski, Elmer S. Martin, Linda May, Ivan Sommer, David Hesrick and Michael J. Corn all purporting to act on behalf of the same class of shareholders for the same class period, making substantially similar allegations. These actions were consolidated into one action by an order of the U.S. District Court. Pursuant to the Court’s order, plaintiffs filed a Consolidated and Amended Class Action Complaint which supercedes their prior complaints. The Consolidated and Amended Class Action Complaint alleges a new class period of December 1, 1997 through July 30, 1998, and omits allegations that the Company misrepresented its financial statements. Plaintiffs also filed a new Class Action Complaint that attempts to allege claims under Sections 11, 12(a)(2) and 15 of the Securities Act of 1933 on behalf of all purchasers of our common stock issued pursuant to the Company's secondary public offering on May 5, 1998. The Company has filed motions to dismiss the Consolidated and Amended Class Action Complaint and the Class Action Complaint and a motion to strike the Class Action Complaint. These motions are fully briefed and under submission with the U.S. District Court.

The original Complaint charges that JDAS and certain of its officers and directors violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 by misrepresenting or failing to disclose material information about JDASˇ operations and financial condition. According to the Complaint, defendants overstated its reported revenues and earnings, misled investors about demands for its products and services, and reported revenue and earnings growth throughout 1998 and 1999. More specifically, defendants failed to disclose significant problems with its new products, declining revenues from its licensing operations and disarray among its sales force. On January 5, 1999, JDA software disclosed that it would restate its third quarter 1998 results and would post a significant loss for the fourth quarter of 1998. Following JDAS' January 5, 1999 announcement, the investing public reacted strongly as the price of JDAS common stock plunged to $6 1/6 per share, more than 80% lower than the price at which defendants sold more than $140 million of JDAS stock. In addition, certain JDAS senior officers sold $43 million of their own JDAS stock while in possession of material non-public information about JDAS. What is more, JDAS itself issued and sold more than $90 million of stock via a public offering.

INDUSTRY CLASSIFICATION:
SIC Code: 7371
Sector: Technology
Industry: Software & Programming

COMPANY/ISSUER NAME:	JDA Software Group, Inc.
COMPANY/ISSUER TICKER:	JDAS
COMPANY WEBSITE:	http://www.jdasoftware.com

FIRST IDENTIFIED COMPLAINT IN THE DATABASE

Bernat, et al. v. JDA Software Group, Inc., et al.

COURT: D. Arizona	DOCKET NUMBER: 99-CV-00065
JUDGE NAME: Hon. Roger G. Strand
DATE FILED: 01/13/1999	SOURCE: Business Wires
CLASS PERIOD START: 01/29/1998	CLASS PERIOD END: 01/05/1999
TYPE OF COMPLAINT: Unamended/Unconsolidated
PLAINTIFF FIRMS IN THIS OR SIMILAR CASE:
Bonnett, Fairbourn, Friedman & Balint, PC 4041 N. Cental Avenue, Suite 1100, Phoenix, AZ, 85012-3311nta (voice) 602.274.1100, (fax) , 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 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 Schiffrin & Barroway LLP 3 Bala Plaza E, Bala Cynwyd, PA, 19004 (voice) 610.667.7706, (fax) 610.667.7056, info@sbclasslaw.com _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 4

DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT
Complaint for Violation of the Securities Exchange Act of 1934
Type: Complaint		Date on the document: 01/13/1999
Docket
Type: Docket		Date on the document: 03/05/1999

REFERENCE COMPLAINT

Bernat, et al. v. JDA Software Group, Inc., et al .

COURT: D. Arizona	DOCKET NUMBER: 99-CV-00065
JUDGE NAME: Hon. John W. Sedwick
DATE FILED: 07/23/1999	SOURCE: Business Wires
CLASS PERIOD START: 12/01/1997	CLASS PERIOD END: 07/30/1998
TYPE OF COMPLAINT: Consolidated and/or Amended
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Berman, DeValerio & Pease LLP One Liberty Square, Boston, MA, 02109 (voice) (617) 542-8300, (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 Bonnett, Fairbourn, Friedman & Balint, PC 4041 N. Cental Avenue, Suite 1100, Phoenix, AZ, 85012-3311nta (voice) 602.274.1100, (fax) , 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
U.S. District Court Civil Docket
Type: Docket		Date on the document: 06/19/2000

OTHER DOCUMENTS
Docket
Case Name and/or Number: Wiss v. JDA Software Group Inc., et al.
Type: Docket		Date on the document: 02/25/1999
Docket
Case Name and/or Number: Bloukos v. JDA Software Group Inc., et al.
Type: Docket		Date on the document: 02/25/1999
Docket
Case Name and/or Number: Martin v. JDA Software Group Inc., et al.
Type: Docket		Date on the document: 03/01/1999
Docket
Case Name and/or Number: Werbosky v. JDA Software Group Inc., et al.
Type: Docket		Date on the document: 03/02/1999
Docket
Case Name and/or Number: Hesrick v. JDA Software Group Inc., et al.
Type: Docket		Date on the document: 03/04/1999
Docket
Case Name and/or Number: May v. JDA Software Group Inc., et al.
Type: Docket		Date on the document: 03/05/1999
Docket
Case Name and/or Number: Sommer v. JDA Software Group Inc., et al.
Type: Docket		Date on the document: 03/05/1999

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