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Netsolve, Inc. Conclusion: According to a Press Release dated December 13, 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 September 29, 1999, Netsolve commenced an initial public offering of 3,700,000 of its shares of common stock at an offering price of $13 per share (the "Netsolve IPO"). In connection therewith, Netsolve 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 Netsolve shares issued in connection with the Netsolve IPO; and (ii) the underwriters had entered into agreements with customers whereby the underwriters agreed to allocate Netsolve shares to those customers in the Netsolve IPO in exchange for which the customers agreed to purchase additional Netsolve shares in the aftermarket at pre-determined prices.
INDUSTRY CLASSIFICATION:
SIC Code: 7373
Sector: Technology
Industry: Computer Services
| COMPANY/ISSUER NAME: | Netsolve, Inc. |
| COMPANY/ISSUER TICKER: | NTSL |
| COMPANY WEBSITE: | http://www.netsolve.com |
| FIRST IDENTIFIED COMPLAINT IN THE DATABASE | |||||||||||||||||
| Unknown Plaintiff, et al. v. Netsolve, Inc., et al. | |||||||||||||||||
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| DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT | |||
| Type: | Date on the document: | ||
| REFERENCE COMPLAINT | |||||||||||||||||
| In Re Netsolve, Inc. Initial Public Offering Securities Litigation | |||||||||||||||||
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| DOCUMENTS FOR THE REFERENCE COMPLAINT | |||
| Consolidated Amended Class Action Complaint | |||
| Type: Complaint | Date on the document: 2/21/2001 | ||
| Amended Class Action Complaint For Violations Of The Federal Securities Laws | |||
| Type: Complaint | Date on the document: 04/19/2002 | ||
| OTHER DOCUMENTS | |||
| Case Name and/or Number: | |||
| Type: | Date on the document: | ||
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