 |
||
|
|
Home Annual/Quarterly
Updates About
Us
|
Spanish Broadcasting Summary: According to a Press Release November 29, 2001, the complaint alleges violations of Sections 11, 12(a)(2) and 15 of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. On or about October 27, 1999, Spanish Broadcasting commenced an initial public offering of 21,787,400 of its shares of common stock at an offering price of $20 per share (the Spanish Broadcasting IPO). In connection therewith, Spanish Broadcasting filed a registration statement, which incorporated a prospectus (the Prospectus), with the SEC. The complaint further alleges that the Prospectus was materially false and misleading because it failed to disclose, among other things, that: (i) the Underwriters had solicited and received excessive and undisclosed commissions from certain investors in exchange for which the Underwriters allocated to those investors material portions of the restricted number of Spanish Broadcasting shares issued in connection with the Spanish Broadcasting IPO; and (ii) the Underwriters had entered into agreements with customers whereby the Underwriters agreed to allocate Spanish Broadcasting shares to those customers in the Spanish Broadcasting IPO in exchange for which the customers agreed to purchase additional Spanish Broadcasting shares in the aftermarket at pre-determined prices.
INDUSTRY CLASSIFICATION:
SIC Code: 4832
Sector: Services
Industry: Broadcasting & Cable TV
| COMPANY/ISSUER NAME: | Spanish Broadcasting System, Inc. |
| COMPANY/ISSUER TICKER: | SBSA |
| COMPANY WEBSITE: | http://www.spanishbroadcasting.com |
| FIRST IDENTIFIED COMPLAINT IN THE DATABASE | |||||||||||||||||
| [Unknown Plaintiff], et al., v. Spanish Broadcasting System, Inc., et al. | |||||||||||||||||
| |||||||||||||||||
|
REFERENCE COMPLAINT | |||||||||||||||||
| In re Spanish Broadcasting System, Inc. Initial Public Offering Securities Litigation | |||||||||||||||||
| |||||||||||||||||
| 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 | ||
WARNING AND DISCLAIMER OF LIABILITY:
The information included on this Web site, whether provided by personnel employed by Stanford Law School or by third parties, is provided for research and teaching purposes only. Neither Stanford University, Stanford Law School, nor any of their employees, agents, contractors, or affiliates warrant the accuracy or completeness of the information or analyses displayed herein, and we caution all readers that inclusion of any information on this site does not constitute an endorsement of the truthfulness or accuracy of that information. In particular, this Web site contains complaints and other documents filed in federal and state courts, which make allegations that may or may not be accurate. No reader should, on the basis of information contained in or referenced by this Web site, assume that any of these allegations are truthful.
Go to Search page | Go to Case Index page | Back to Top