NorthPoint Communications Group, Inc. - Securities Class Action

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_______________
Copyright (c) 2001
Stanford Law School

NorthPoint Communications Group, Inc. Conclusion: According to the docket dated January 29, 2004, Order by Judge William H. Alsup terminates the case and approves plan of allocation of settlement proceeds. The notice of settlement dated September 09, 2003 states the settlement amount of $20,000,000 in cash less all attorneys’ fees and expenses to be paid to plaintiffs' counsel and costs of notice and administration of the settlement and will include interest that accrues on the fund prior to distribution.

The original complaint charges certain of NorthPoint's officers and directors with violations of the Securities Exchange Act of 1934. NorthPoint provides high speed local data network services. The company's networks use digital subscriber line technology to transport data at faster speeds than common dial-up modems. NorthPoint markets its network and data transport services to Internet service providers, broadband data service providers, and long-distance and local telephone companies. On Oct. 26, 2000, following the close of trading, NorthPoint announced its Q3 2000 financial results in a press release proclaiming that such results were the result of NorthPoint's "conservative revenue recognition policy." Then, on Nov. 20, 2000, NorthPoint announced that it would restate its Q3 2000 financial statements (which just one month prior the company claimed were based on "conservative" accounting) as a result of accounting misstatements that will require eliminating $6 million in revenue to be removed from the quarter for failing to comply with Generally Accepted Accounting Principles. Then, on Nov. 29, 2000, Verizon Communications withdrew from a merger agreement with NorthPoint, citing NorthPoint's deteriorating financial condition and false quarterly report as its reason. As such, Verizon would not continue to fund NorthPoint's operations leaving NorthPoint to operate on its own. NorthPoint's shares dropped to just pennies per share in response.

Note: Due to its Chapter 11 bankruptcy filing on January 16, 2001, these proceedings against NorthPoint are stayed as of the time of the filing of the Consolidated Complaint.

INDUSTRY CLASSIFICATION:
SIC Code: 4813
Sector: Services
Industry: Communications Services

COMPANY/ISSUER NAME:	NorthPoint Communications Group, Inc.
COMPANY/ISSUER TICKER:	NPNT
COMPANY WEBSITE:	http://www.northpointcom.com

FIRST IDENTIFIED COMPLAINT IN THE DATABASE

Atwood, et al. v. NorthPoint Communications Group, Inc., et al.

COURT: N.D. California	DOCKET NUMBER: 01-CV-1473
JUDGE NAME: Hon. Edward A. Infante
DATE FILED: 02/16/2001	SOURCE: Business Wires
CLASS PERIOD START: 08/09/2000	CLASS PERIOD END: 11/29/2000
TYPE OF COMPLAINT: Unamended/Unconsolidated
PLAINTIFF FIRMS IN THIS OR SIMILAR CASE:
Milberg Weiss Bershad Hynes & Lerach LLP (S.F., CA) 100 Pine Street - Suite 2600, San Francisco, CA, 94111 (voice) 415.288.4545, (fax) 415.288.4534, 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 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: 3

DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT

Type:		Date on the document:

REFERENCE COMPLAINT

Atwood, et al. v. Malaga, et al.

COURT: N.D. California	DOCKET NUMBER: 01-CV-1473
JUDGE NAME: Hon. William H. Alsup
DATE FILED: 08/23/2001	SOURCE: Business Wires
CLASS PERIOD START: 08/08/2000	CLASS PERIOD END: 11/29/2000
TYPE OF COMPLAINT: Consolidated and/or Amended
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Lerach Coughlin Stoia Geller Rudman & Robbin (San Francisco) 100 Pine Street, Suite 2600, San Francisco, CA, 94111 (voice) 415.288.4545, (fax) 415.288.4534, info@lerachlaw.com Milberg Weiss Bershad Hynes & Lerach LLP (S.F., CA) 100 Pine Street - Suite 2600, San Francisco, CA, 94111 (voice) 415.288.4545, (fax) 415.288.4534, 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: 3

DOCUMENTS FOR THE REFERENCE COMPLAINT
Consolidated Complaint For Violation Of The Securities Exchange Act Of 1934
Type: Complaint		Date on the document: 08/23/2001
Individual Defendants’ Notice Of Motion, Motion To Dismiss For Failure To State A Claim, And Supporting Memorandum Of Points And Authorities
Type: Notice		Date on the document: 10/08/2001
Certificate of Service
Type: Other		Date on the document: 10/09/2001
Declaration Of Jason Baker In Support Of Plaintiffs' Opposition To Individual Defendants' Motion To Dismiss
Type: Declaration		Date on the document: 11/15/2001
Declaration Of Jason T. Baker In Support Of Plaintiffs' Response To Individual Defendants' Request For Judicial Notice
Type: Declaration		Date on the document: 11/15/2001
Plaintiffs' Opposition To Individual Defendants' Motion To Dismiss
Type: Other		Date on the document: 11/15/2001
Plaintiffs' Request For Limited Judicial Notice
Type: Other		Date on the document: 11/15/2001
Plaintiffs' Response To Individual Defendants' Request For Judicial Notice
Type: Other		Date on the document: 11/15/2001
Plaintiffs' Supplemental Memorandum On NorthPoint Communications Group, Inc.'s Accounting For Allowances, Reserves And Write Offs On The Income Statement
Type: Other		Date on the document: 12/17/2001
Plaintiffs' Supplemental Memorandum On Revealing Sources And In Camera Review
Type: Other		Date on the document: 12/17/2001
Plaintiff's Response To Defendants' Improper Evidentiary Proffer In Their Supplemental Brief Re: Accounting Principles
Type: Other		Date on the document: 12/20/2001
Plaintiff's Supplemental Brief Responding To The Court's Order Of December 19, 2001 (1) Requesting Information Regarding Bad Debt Reserve
Type: Other		Date on the document: 12/20/2001
Appendix Of Exhibits Incorporated By Reference In The First Consolidated Amended Complaint For Violation Of The Securities Exchange Act Of 1934
Type: Other		Date on the document: 02/01/2002
First Consolidated Amended Complaint For Violation Of The Securities Exchange Act Of 1934
Type: Complaint		Date on the document: 02/01/2002
Certificate Of Service
Type: Other		Date on the document: 03/07/2002
Individual Defendants’ Notice Of Motion, Motion To Dismiss Consolidated Amended Complaint And Memorandum Of Points And Authorities In Support Of Motion To Dismiss
Type: Notice		Date on the document: 03/07/2002
Certificate Of Service
Type: Other		Date on the document: 04/11/2002
Individual Defendants’ Reply Brief In Support Of Motion To Dismiss First Consolidated Amended Complaint For Failure To State A Claim
Type: Brief		Date on the document: 04/11/2002
Renotice Of Motion For Class Certification And Appointing Fb Capital Management Of Kansas, Inc. As Class Representative
Type: Other		Date on the document: 08/12/2002
Notice Of Pendency And Proposed Settlement Of Class Action
Type: Settlement		Date on the document: 09/10/2003
US District Court Civil Docket as of 01/29/2004
Type: Docket		Date on the document: 01/29/2004
U.S. District Court Civil Docket
Type: Docket		Date on the document: 06/01/2005

OTHER DOCUMENTS
Class Action Complaint
Case Name and/or Number: Blumenthal
Type: Complaint		Date on the document: 02/21/2001
US District Court Civil Docket as of 02/21/2001
Case Name and/or Number: Blumenthal
Type: Docket		Date on the document: 02/21/2001
Complaint for Violation of the Federal Securities Laws
Case Name and/or Number: Carr
Type: Complaint		Date on the document: 03/09/2001
Complaint for Violation of the Federal Securities Laws
Case Name and/or Number: Weingarten, et al. v. NorthPoint Communications Group, Inc., et al.
Type: Complaint		Date on the document: 03/09/2001
Complaint for Violation of the Federal Securities Laws
Case Name and/or Number: Weingarten
Type: Complaint		Date on the document: 03/09/2001
U.S. District Court Civil Docket
Case Name and/or Number: Atwood, et al v. Malaga, et al
Type: Docket		Date on the document: 03/27/2001
Notice of Motion and Motion to Appoint FB Capital Management of Kansas and Coast Investment & Development Co. KSC as Lead Plaintiff Pursuant to Section
Case Name and/or Number: Atwood
Type: Notice		Date on the document: 04/17/2001
Notice of Motion and Motion to Consolidate and/or Coordinate Related Actions; Memorandum of Points and Authorities in Support Thereof
Case Name and/or Number: Atwood
Type: Notice		Date on the document: 04/17/2001
US District Court Civil Docket as of 05/04/2001
Case Name and/or Number: Carr
Type: Docket		Date on the document: 05/04/2001

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