 |
||
|
|
Home Annual/Quarterly
Updates About
Us
|
SonicWALL, Inc. Summary: According to a Press Release dated December 7, 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 November 10, 1999, SonicWALL commenced an initial public offering of 4,000,000 of its shares of common stock at an offering price of $14 per share (the IPO). On or about March 16, 2000, SonicWALL commenced a secondary offering for the sale of 3,500,000 shares of SonicWALL common stock for $100 per share. (the Secondary Offering). In connection with the IPO and Secondary Offering, SonicWALL filed registration statements, which incorporated prospectuses (the Prospectus and Secondary Prospectus, respectively, and collectively the Prospectuses), with the SEC. The complaint further alleges that the Prospectuses were materially false and misleading because they failed to disclose, among other things, that: (i) the Underwriter Defendants had solicited and received excessive and undisclosed commissions from certain investors in exchange for which the Underwriter Defendants allocated to those investors material portions of the restricted number of SonicWALL shares issued in connection with the IPO; (ii) the Underwriter Defendants had entered into agreements with customers whereby the Underwriter Defendants agreed to allocate SonicWALL shares to those customers in the IPO in exchange for which the customers agreed to purchase additional SonicWALL shares in the aftermarket at pre-determined prices; and (iii) the Secondary Prospectus failed to disclose the aforementioned practices and the resulting inflation of the price of SonicWALL common stock which continued throughout the Class Period, including the time of the Secondary Offering.
INDUSTRY CLASSIFICATION:
SIC Code: 7389
Sector: Technology
Industry: Communications Equipment
| COMPANY/ISSUER NAME: | SonicWALL, Inc. |
| COMPANY/ISSUER TICKER: | SNWL |
| COMPANY WEBSITE: | http://www.sonicwall.com |
| FIRST IDENTIFIED COMPLAINT IN THE DATABASE | |||||||||||||||||
| [Unknown Plaintiff], et al., v. SonicWALL, Inc., et al. | |||||||||||||||||
| |||||||||||||||||
|
REFERENCE COMPLAINT | |||||||||||||||||
| In re Sonicwall, 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