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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. | |||||||||||||||||
| |||||||||||||||||
| 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 | |||||||||||||||||
| |||||||||||||||||
| 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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