Nice Systems Ltd. - Securities Class Action

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_______________
Copyright (c) 2001
Stanford Law School

Nice Systems Ltd. Summary: According to the docket, after the Court entered the Final Judgment and Order approving the settlement and dismissing the claims, the plaintiffs filed a Notice of Appeal. On March 26, 2004, the Third Circuit Court of Appeals affirmed the US District Court’s Order, and on January 20, 2005, the Court entered the Order of Distribution of the Settlement Fund.

On August 20, 2001 and Defendants responded on December 27, 2001 with a Motion to Dismiss the Amended Complaint. Prior to a ruling on Defendants' Motion to Dismiss, the parties agreed to settle the action and entered into a Stipulation of Settlement on November 15, 2002. The terms of the proposed settlement create a Settlement Fund for the benefit of the Class in the amount of $10,000,000 in cash and will include interest that accrues on the fund prior to distribution. On December 11, 2002, Judge Joseph Greenaway, Jr. issued an order granting Preliminary Approval of the proposed settlement and certified the following class: All persons who purchased or otherwise acquired Nice ADSs during the period from November 3, 1999 to February 7, 2001, inclusive, other than Defendants. A hearing, to determine whether the proposed settlement is fair, reasonable and adequate, was held on March 31, 2003 and continued on April 7, 2003. On April 8, 2003, the Court entered an Order of Final Judgment approving the settlement.

The original federal class-action lawsuit charges defendants with securities fraud. The complaint accuses Nice System and two of its top officers of inflating the Company’s stock price by issuing false and misleading financial statements for its 1999 financial statements and the first three quarters of 2000. On February 8, 2001, Nice Systems announced that it would restate its financial statements for its 1999 fiscal year and the first three quarters of 2000 because of improper accounting.

INDUSTRY CLASSIFICATION:
SIC Code: 3571
Sector: Technology
Industry: Electronic Instruments & Controls

COMPANY/ISSUER NAME:	Nice Systems Ltd.
COMPANY/ISSUER TICKER:	NICE
COMPANY WEBSITE:	http://www.nice.com/

FIRST IDENTIFIED COMPLAINT IN THE DATABASE

David, et al. v. Nice Systems Ltd., et al.

COURT: D. New Jersey	DOCKET NUMBER: 01-CV-00737
JUDGE NAME: Hon. Joseph A. Greenaway, Jr.
DATE FILED: 02/14/2001	SOURCE: Business Wires
CLASS PERIOD START: 02/16/2000	CLASS PERIOD END: 02/07/2001
TYPE OF COMPLAINT: Complaint (Unamended and Unconsolidated)
PLAINTIFF FIRMS NAMED IN COMPLAINT:
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 Kaplan Fox & Kilsheimer, LLP (Morristown, NJ) 237 South Street, Morristown, NJ, 07962 (voice) 973.656.0222, (fax) 973.401.1114, info@kaplanfox.com Kaplan Fox & Kilsheimer, LLP (former New York, NY) 805 Third Avenue, 22nd Floor, New York, NY, 10022 (voice) 212.687.1980, (fax) 212.687.7714, info@kaplanfox.com _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 4

DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT

Type:		Date on the document:

REFERENCE COMPLAINT

In Re: Nice Systems Ltd. Securities Litigation

COURT: D. New Jersey	DOCKET NUMBER: 01-CV-00737
JUDGE NAME: Hon. Joseph A. Greenaway, Jr.
DATE FILED: 08/20/2001	SOURCE: Business Wires
CLASS PERIOD START: 02/16/2000	CLASS PERIOD END: 02/07/2001
TYPE OF COMPLAINT: Consolidated Complaint
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Kaplan Fox & Kilsheimer, LLP (Morristown, NJ) 237 South Street, Morristown, NJ, 07962 (voice) 973.656.0222, (fax) 973.401.1114, info@kaplanfox.com Pomerantz Haudek Block Grossman & Gross LLP (New York) 100 Park Avenue, 26th Floor, New York, NY, 10017-5516ven (voice) 212.661.1100, (fax) 212.661.8665, info@pomerantzlaw.com/ Stull, Stull & Brody (New York) 6 East 45th Street, New York, NY, 10017 (voice) 310.209.2468, (fax) 310.209.2087, SSBNY@aol.com _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 3

DOCUMENTS FOR THE REFERENCE COMPLAINT
Consolidated Amended Class Action Complaint
Type: Complaint		Date on the document: 08/20/2001
Notice Of Proposed Class Action Settlement And Hearing Thereon
Type: Notice		Date on the document: 12/17/2002
U.S. District Court Civil Docket
Type: Docket		Date on the document: 01/20/2005

OTHER DOCUMENTS
Class Action Complaint for Violations of the Federal Securities Laws
Case Name and/or Number: Dadabhoy
Type: Complaint		Date on the document: 03/01/2001
U.S. District Court Civil Docket
Case Name and/or Number: Dadabhoy, et al. v. Nice Systems Ltd. Securities Litigation
Type: Docket		Date on the document: 05/23/2001

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