Sybase - Securities Class Action

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_______________
Copyright (c) 2001
Stanford Law School

Sybase Conclusion: According to the Order and Final Judgement, dated September 29, 2000, by U.S. District Judge Charles A. Legge, the settlement is approved and the case is dismissed with prejudice. The plaintiffs’ counsel is awarded attorneys' fees of 30% of the settlement fund and reimbursement of litigation expenses in the amount of $619,740.09 together with the interest earned.

The Complaint alleges violations of the federal securities laws against Sybase Inc. ("Sybase") and certain of its officers and directors. The Complaint asserts that defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 by issuing false and misleading financial statements and press releases concerning Sybase's income and earnings to the investing public. On Jan. 21, 1998, after the market had closed, Sybase issued a press release announcing that it would be reporting a fourth quarter loss and restating its financial statements for the first three quarters of 1997 and that the amounts in question were estimated to have a financial impact of $60 to $65 million. Sybase's auditors had uncovered financial irregularities at Sybase's Japanese subsidiary, including a cash account and sales to customers subject to rights of return and extended payment terms. The Complaint alleges that defendants issued false and misleading financial statements and press releases concerning Sybase's revenues, income and earnings per share which served to inflate the price of the stock. The financial statements of Sybase made during the Class Period were materially false and misleading because they materially overstated its Japanese subsidiary's revenues. It also alleges that defendants knew or recklessly disregarded that their accounting practices were not in accordance with generally accepted accounting principles.

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

COMPANY/ISSUER NAME:	Sybase
COMPANY/ISSUER TICKER:	SYBS
COMPANY WEBSITE:	http://www.sybase.com

FIRST IDENTIFIED COMPLAINT IN THE DATABASE

Alan Friedman, et al. v. Sybase, Inc., et al.

COURT: N.D. California	DOCKET NUMBER: 98-CV-252
JUDGE NAME: Judge Charles A. Legge
DATE FILED: 01/22/1998	SOURCE: Internet
CLASS PERIOD START: 04/17/1997	CLASS PERIOD END: 01/21/1998
TYPE OF COMPLAINT: First Consolidated
PLAINTIFF FIRMS IN THIS OR SIMILAR CASE:
Kirby, McInerney & Squire LLP 830 Third Avenue 10th Floor, New York Ave, NY, 10022 (voice) 212.317.2300, (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 Shalov, Stone & Bonner 276 Fifth Avenue, Suite 704, New York, NY, 10001 (voice) 212.686.8004, (fax) 212.686.8005, lawyer@lawssb.com _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 3

DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT
Class Action Complaint No.C-98-0252
Type: Complaint		Date on the document: 1/22/1998
Declaration of Randi D. Badman
Type: Declaration		Date on the document: 3/23/1998
Notice and Motion to be Appointed Lead Plaintiff
Type: Notice		Date on the document: 3/23/1998
Notice of Motion and Motion to Consolidate
Type: Notice		Date on the document: 3/23/1998
Corrected Motion to Appoint Lead Plaintiff
Type: Notice		Date on the document: 3/26/1998
Corrected Motion to Consolidate
Type: Notice		Date on the document: 3/26/1998

REFERENCE COMPLAINT

In Re: Sybase Securities Litigation

COURT: N.D. California	DOCKET NUMBER: 98-CV-252
JUDGE NAME: Hon. Charles A. Legge
DATE FILED: 06/12/1998	SOURCE: Business Wires
CLASS PERIOD START: 04/17/1997	CLASS PERIOD END: 01/21/1998
TYPE OF COMPLAINT: Consolidated and/or 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 Berger & Montague, P.C. 1622 Locust Street, Philadelphia, PA, 19103 (voice) 800.424.6690, (fax) 215.875.4604, investorprotect@bm.net Berman, DeValerio, Pease, Tabacco Burt & Pucillo (CA) 425 California Street, Suite 2025, San Francisco, CA, 94104 (voice) 415.433.3200, (fax) 415.433.6382, 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 Kaufman Malchman Kirby & Squire, LLP 919 Third Ave 11th Flr, New York, NY, 10022 (voice) 212.371.6600, (fax) , Milberg Weiss Bershad Hynes & Lerach (Los Angeles, CA) 355 S Grand Ave - Ste 4170, Los Angeles, CA, 90071-3172 (voice) 213.617.9007, (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: 7

DOCUMENTS FOR THE REFERENCE COMPLAINT
Consolidated Amended Class Action Complaint
Type: Complaint		Date on the document: 6/11/1998
Declaration of Blair A. Nicholas in Support of Motion for Class Certification
Type: Declaration		Date on the document: 7/16/1998
Notice and Motion in Support of Class Certification
Type: Notice		Date on the document: 7/16/1998
Declaration of Randi D. Bandman in Support of Plaintiffs' Opposition to Defendants' Motion to Dismiss
Type: Declaration		Date on the document: 7/30/1998
Plaintiff's Memorandum in Opposition to Defendant's Motion to Dismiss
Type: Other		Date on the document: 7/30/1998
Statement of Recent Decision re: Motion to Dismiss
Type: Other		Date on the document: 08/31/1998
Plaintiffs' Supplemental Submission of Authority in Opposition to Defendants' Motion to Dismiss
Type: Other		Date on the document: 12/04/1998
U.S. District Court Civil Docket
Type: Docket		Date on the document: 10/10/2000

OTHER DOCUMENTS
Securities Class Action Complaint
Case Name and/or Number: Strauch, et al. v. Hoffman, et al.
Type: Complaint		Date on the document: 01/22/1998
Securities Class Action Complaint
Case Name and/or Number: Adelglass v. Sybase, Inc., et al.
Type: Complaint		Date on the document: 01/23/1998
COMPLAINT FOR VIOLATION OF THE FEDERAL SECURITIES LAWS - C-98-20065
Case Name and/or Number: DANIEL E. MARKLE et al. v. Sybase, Inc., et al.
Type: Complaint		Date on the document: 01/26/1998
COMPLAINT FOR VIOLATION Of THE SECURITIES EXCHANGE ACT OF 1934 - 98-CV-281
Case Name and/or Number: SIMON SINNREICH and BEN GROSS et al. v. Sybase, Inc., et al.
Type: Complaint		Date on the document: 01/26/1998
SECURITIES FRAUD CLASS ACTION COMPLAINT - C-98-00277 CRB
Case Name and/or Number: DONALD DRAPER AND EDITH DRAPER et al. v. Sybase, Inc., et al.
Type: Complaint		Date on the document: 01/26/1998
SECURITIES FRAUD CLASS ACTION COMPLAINT - C-98-0288 MMC
Case Name and/or Number: ROBERT WEISS et al. v. Sybase, Inc. et al.
Type: Complaint		Date on the document: 01/26/1998
COMPLAINT FOR VIOLATION OF THE FEDERAL SECURITIES LAW - C-98-20075-JW
Case Name and/or Number: CHARLES A. HARAD and BARRY SUGAR et al. v. Sybase, Inc., et al.
Type: Complaint		Date on the document: 01/27/1998
COMPLAINT FOR VIOLATION FEDERAL SECURITIES LAWS - C98-20084 RMW
Case Name and/or Number: JOHN GOETCHEUS and MARION FINKEL et al. v. Sybase, Inc., et al.
Type: Complaint		Date on the document: 01/28/1998
COMPLAINT FOR VIOLATION OF THE FEDERAL SECURITIES LAW - C-98-0335-SI
Case Name and/or Number: GREGORY TIMASHOV et al. v. Sybase, Inc., et al.
Type: Complaint		Date on the document: 01/28/1998
CLASS ACTION COMPLAINT - 98-CV-348
Case Name and/or Number: DR. GERALD GREEN and MAX SILBERMAN et al. v. Sybase, Inc., et al.
Type: Complaint		Date on the document: 01/29/1998
SECURITIES LAWS CLASS ACTION COMPLAINT - C-98-0371 MMC
Case Name and/or Number: MOISE KATZ et al. v. Sybase, Inc., et al.
Type: Complaint		Date on the document: 01/30/1998
SECURITIES FRAUD CLASS ACTION COMPLAINT - 98-CV-414
Case Name and/or Number: MARK A. LEVIN et al. v. Sybase, Inc., et al.
Type: Complaint		Date on the document: 02/04/1998
COMPLAINT FOR VIOLATION OF FEDERAL SECURITIES LAW - C.98-0436 TEH
Case Name and/or Number: JOHN A. MONTGOMER et al. v. Sybase, Inc., et al.
Type: Complaint		Date on the document: 02/05/1998
COMPLAINT FOR VIOLATION OF FEDERAL SECURITIES LAWS - 98-CV-483
Case Name and/or Number: ALOK KUMAR et al. v. Sybase, Inc., et al.
Type: Complaint		Date on the document: 02/06/1998
SECURITIES FRAUD CLASS ACTION COMPLAINT - C-98-00519 SI
Case Name and/or Number: TONY ADLLIRAD et al. v. Sybase, Inc., et al.
Type: Complaint		Date on the document: 02/09/1998
SECURITIES LAWS CLASS ACTION COMPLAINT - C-98-20154 RMW
Case Name and/or Number: CHARLES DU et al. v. Sybase, Inc., et al.
Type: Complaint		Date on the document: 02/19/1998
CLASS ACTION COMPLAINT - C-98-1008 SBA
Case Name and/or Number: BENJAMIN FELDMAN et al. v. Sybase, Inc., et al.
Type: Complaint		Date on the document: 03/18/1998
Docket
Case Name and/or Number: Strauch, et al. v. Hoffman, et al.
Type: Docket		Date on the document: 04/06/1998
Docket
Case Name and/or Number: Adelglass v. Sybase, Inc., et al.
Type: Docket		Date on the document: 04/06/1998

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