Sunterra Corporation - Securities Class Action

Company and Case Information

IMPORTANT INFORMATION | INDEX OF FILINGS | SEARCH

Home

Index of Filings

News and Press Releases

Filings

Decisions

Settlements

Litigation Activity Indices

Top Ten List

Annual/Quarterly Updates

Clearinghouse Research

Articles & Papers

Search

Related Sites

About Us

Local Rules

Sponsors

Register

_______________
Copyright (c) 2001
Stanford Law School

Sunterra Corporation Summary: By the Order and Final Judgment dated April 26, 2005, U.S. District Judge John Antoon II certifies the class and approves the settlement.

According to a press release dated March 1, 2005, a Preliminary Approval of the securities class action settlement in In re Sunterra Corporation Securities Litigation was announced. The hearing, scheduled on April 26, 2005, is to determine (1) the proposed settlement (the "Settlement") of the above-entitled class action for $4,450,000, in cash plus accrued interest (the "Settlement Amount") should be approved by the Court as fair, reasonable, and adequate; (2) the application of Plaintiffs' Lead Counsel for an award of attorneys' fees and reimbursement of expenses should be approved; and (3) the Action should be dismissed with prejudice.

On June 6, 2002, Sunterra Corp. filed a Suggestion of Bankruptcy, and on July 15, 2000, U.S. District Judge John Antoon II ordered that the consolidated cases are stayed as to defendant Sunterra Corporation, until further order of the Court. Defendant Sunterra shall file a status report within (30) days from the date of this Order and every (90) days thereafter until this matter has been resolved in bankruptcy court.

The original Complaint alleges that Sunterra and certain of its officers and directors violated Sections 10(b) and 20(a) of the Securities Exchange Act of l934 and Rule 10b-5 promulgated thereunder by, among other things, misrepresenting and/or omitting material information from press releases and SEC filings. On January 20, 2000, the company revealed that its fourth quarter results would be between $.01 to $.08 per share, compared with $.31 per share for the prior year, and that the company planned to take a $38 to $45 million charge in order to write-off delinquent receivables improperly left on its books.

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

COMPANY/ISSUER NAME:	Sunterra Corporation
COMPANY/ISSUER TICKER:	STERQ.OB
COMPANY WEBSITE:	http://www.sunterra.com

FIRST IDENTIFIED COMPLAINT IN THE DATABASE

Atara Hirth, et al. v. Sunterra Corporation, et al.

COURT: M.D. Florida	DOCKET NUMBER: 00-CV-79
JUDGE NAME: Magistrate Judge David A. Baker
DATE FILED: 01/21/2000	SOURCE: Notice
CLASS PERIOD START: 10/04/1998	CLASS PERIOD END: 01/19/2000
TYPE OF COMPLAINT: Unamended/Unconsolidated
PLAINTIFF FIRMS IN THIS OR SIMILAR CASE:
Berger & Montague PC 1622 Locust Street, Philadelphia, PA, 19103 (voice) 800.424.6690, (fax) 215.875.4604, investorprotect@bm.net Berman DeValerio Pease Tabacco Burt & Pucillo (MA) One Liberty Square, Boston, MA, 2109 (voice) 617.542.8300, (fax) 617.230.0903, info@bermanesq.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 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: 4

DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT
Class Action Complaint for Violation of Federal Securities Laws - Jury Trial Demanded
Type: Complaint		Date on the document: 01/21/2000

REFERENCE COMPLAINT

In Re: Sunterra Corporation Securities Litigation

COURT: M.D. Florida	DOCKET NUMBER: 00-CV-79
JUDGE NAME: Hon. John Antoon II
DATE FILED: 05/21/2003	SOURCE: Business Wires
CLASS PERIOD START: 10/06/1998	CLASS PERIOD END: 01/19/2000
TYPE OF COMPLAINT: Consolidated and/or Amended
PLAINTIFF FIRMS NAMED IN COMPLAINT:
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 Donovan Searles, LLC 1845 Walnut Street, Suite 1100, Philadelphia, PA, 19103 (voice) 215-732-6067, (fax) 215-732-8060, staff@donovansearles.com Shalov Stone & Bonner LLP (New York) 485 Seventh Avenue, Suite 1000, New York, NY, 10018 (voice) (212) 239-4340, (fax) (212) 239-4310, lawyer@lawssb.com Vianale & Vianale LLP The Plaza - Suite 801, 5355 Town Center Road., Boca Raton, FL, 33486 (voice) 561.391.4900, (fax) 561.368.9274, info@vianalelaw.com _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 4

DOCUMENTS FOR THE REFERENCE COMPLAINT
Consolidated Amended Class Action Complaint
Type: Complaint		Date on the document: 11/13/2000
Corrected Third Consolidated Amended Class Action Complaint
Type: Complaint		Date on the document: 05/21/2003
Order
Type: Order		Date on the document: 11/12/2003
Memorandum In Support Of Motion For Preliminary Approval Of Settlement
Type: Memorandum		Date on the document: 01/24/2005
Stipulation And Agreement Of Settlement
Type: Settlement		Date on the document: 01/24/2005
Notice Of Pendency And Settlement Of Class Action, Hearing On Proposed Settlement And Attorneys’ Fee Petition And Right To Share In Settlement Fund
Type: Notice		Date on the document: 02/11/2005
Preliminary Approval Order
Type: Order		Date on the document: 02/11/2005
Proof of Claim and Release
Type: Other		Date on the document: 02/11/2005
Order And Final Judgment
Type: Order		Date on the document: 04/26/2005
U.S. District Court Civil Docket
Type: Docket		Date on the document: 01/18/2006

OTHER DOCUMENTS

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

WARNING AND DISCLAIMER OF LIABILITY:
The information included on this Web site, whether provided by personnel employed by Stanford Law School or by third parties, is provided for research and teaching purposes only. Neither Stanford University, Stanford Law School, nor any of their employees, agents, contractors, or affiliates warrant the accuracy or completeness of the information or analyses displayed herein, and we caution all readers that inclusion of any information on this site does not constitute an endorsement of the truthfulness or accuracy of that information. In particular, this Web site contains complaints and other documents filed in federal and state courts, which make allegations that may or may not be accurate. No reader should, on the basis of information contained in or referenced by this Web site, assume that any of these allegations are truthful.

Go to Search page | Go to Case Index page | Back to Top

�