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Cobalt Networks, Inc. Summary: According to a Press Release dated 12/05/2001, the lawsuit asserts claims under Section 12 of the Securities Act of 1933 and Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated by the SEC thereunder and seeks to recover damages. The complaint alleges that certain of the officers and directors of Cobalt Networks, Inc. at the time of its IPO violated the federal securities laws by issuing and selling Cobalt Networks common stock pursuant to the initial public offering without disclosing to investors that several of the underwriters of the IPO had solicited and received excessive and undisclosed commissions from certain investors. The complaint further alleges that defendants violated the Securities Act of 1933 because the Prospectus distributed to investors and the Registration Statement filed with the SEC in order to gain regulatory approval for the Cobalt Networks offering contained material misstatements regarding the commissions that the underwriters would derive from the IPO and failed to disclose the additional commissions and 'laddering' scheme discussed above.
INDUSTRY CLASSIFICATION:
SIC Code: 3670
Sector: Technology
Industry: Computer Hardware
| COMPANY/ISSUER NAME: | Cobalt Networks, Inc. |
| COMPANY/ISSUER TICKER: | COBT [DELISTED] |
| COMPANY WEBSITE: | http://www.cobalt.com/ |
| FIRST IDENTIFIED COMPLAINT IN THE DATABASE | |||||||||||||||||
| Morris Kassin, et al. v. The Goldman Sachs Group, Inc., et al. | |||||||||||||||||
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REFERENCE COMPLAINT | |||||||||||||||||
| In Re Cobalt Networks, Inc. Initial Public Offering Securities Litigation | |||||||||||||||||
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| DOCUMENTS FOR THE REFERENCE COMPLAINT | |||
| Amended Class Action Complaint For Violations Of The Federal Securities Laws | |||
| Type: Complaint | Date on the document: 04/19/2002 | ||
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