Comerica , Inc. : Imperial Bancorp - Securities Class Action

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Stanford Law School

Comerica , Inc. : Imperial Bancorp Conclusion: According to the Order and Final Judgment, entered on November 30, 2005, from U.S. District Judge Honorable Marianne O. Battani of the U.S. District Court for the Eastern District of Michigan, the case is settled. The action is dismissed with prejudice and without costs, except as provided in the Stipulation. Further, the Plan of Allocation is approved, and Plaintiffs’ Counsel are awarded 27% of the Gross Settlement Fund in fees, and $84,198.65 in reimbursement of expenses.

By the Notice of Pendency dated July 29, 2005, the settlement in In re Comerica, Inc./Imperial Bancorp Securities Litigation, Case No. 02-CV-60211 will provide a $6.0 million settlement fund for the benefit of investors who held Imperial Bancorp shares and received Comerica stock as a result of the merger between Imperial and Comerica on January 29, 2001, or who purchased, held, received or otherwise acquired shares traceable to the merger share exchange. The Court will hold a Final Settlement Hearing on Monday, October 24, 2005. At this hearing the Court will consider whether the settlement is fair, reasonable and adequate. At the Final Settlement Hearing, the Court also will consider the proposed Plan of Allocation for the proceeds of the Settlement and the application of Plaintiffs’ Lead Counsel for attorneys’ fees and reimbursement of expenses.

The original complaint charges Comerica and certain of its executive officers with issuing false and misleading statements concerning the Company's business and financial condition. Specifically, the complaint alleges that Defendants artificially inflated Comerica's revenue by overstating the value of its Munder Capital Management subsidiary and under-accruing Comerica's loan loss reserves. Defendants' material misrepresentations and omissions were revealed on October 2, 2002, when the Company disclosed that Comerica would reduce its second- and third-quarter 2002 earnings, reflecting a $213 million after-tax charge for additional loan loss reserves and the decline in the Munder subsidiary's value.

The class action has been filed on behalf of purchasers of common stock of Comerica, Inc. between January 30, 2000 and October 1, 2002, inclusive, as well as all persons who received shares of Comerica, Inc. as a result of Comerica's acquisition of Imperial Bancorp and who sold those shares as a loss or retained their Comerica holdings through October 1, 2002.

INDUSTRY CLASSIFICATION:
SIC Code: 6021
Sector: Financial
Industry: Regional Banks

COMPANY/ISSUER NAME:	Comerica Incorporated
COMPANY/ISSUER TICKER:	CMA
COMPANY WEBSITE:	http://www.comerica.com/

FIRST IDENTIFIED COMPLAINT IN THE DATABASE

Ahna Capri, et al. v. Comerica, Inc., et al.

COURT: E.D. Michigan	DOCKET NUMBER: 02-CV-60211
JUDGE NAME: Hon. Marianne O. Battani
DATE FILED: 10/04/2002	SOURCE: Business Wires
CLASS PERIOD START: 01/30/2000	CLASS PERIOD END: 10/01/2002
TYPE OF COMPLAINT: Unamended/Unconsolidated
PLAINTIFF FIRMS IN THIS OR SIMILAR CASE:
Brian Felgoise 230 South Broad Street, Suite 404 , Philadelphia, PA, 19102 (voice) 215.735.6810, (fax) 215/735.5185., Cauley Geller Bowman Coates & Rudman LLP (Little Rock, AR) P.O. Box 25438, Little Rock, AR, 72221-5438 (voice) 501.312.8500, (fax) 501.312.8505, Glancy and Binkow 1801 Avenue of the Stars, suite 311, Los Angeles, CA, 90067 (voice) 310-201-9150, (fax) , info@glancylaw.com Law Offices of Charles J. Piven, P.A. World Trade Center-Baltimore,401 East Pratt Suite 2525, Baltimore, MD, 21202 (voice) 410.332.0030, (fax) , pivenlaw@erols.com Milberg Weiss Bershad Hynes & Lerach LLP (New York, NY) One Pennsylvania Plaza, New York, NY, 10119-1065 (voice) 212.594.5300, (fax) , Schiffrin & Barroway LLP 3 Bala Plaza E, Bala Cynwyd, PA, 19004 (voice) 610.667.7706, (fax) 610.667.7056, info@sbclasslaw.com Stull, Stull & Brody (New York) 6 East 45th Street, New York, NY, 10017 (voice) 310.209.2468, (fax) 310.209.2087, SSBNY@aol.com _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 7

DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT
Class Action Complaint for Violation of Federal Securities Laws - Jury Trial Demanded
Type: Complaint		Date on the document: 10/04/2002

REFERENCE COMPLAINT

In Re: Comerica, Inc./Imperial Bancorp Securities Litigation

COURT: E.D. Michigan	DOCKET NUMBER: 02-CV-60211
JUDGE NAME: Hon. Marianne O. Battani
DATE FILED: 02/09/2004	SOURCE: Business Wires
CLASS PERIOD START: 07/17/2002	CLASS PERIOD END: 10/01/2002
TYPE OF COMPLAINT: Consolidated and/or Amended
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Glancy Binkow & Goldberg LLP (LA) 1801 Ave. of the Stars, Suite 311, Los Angeles, CA, 90067 (voice) (310) 201-915, (fax) (310) 201-916, info@glancylaw.com Wechsler, Harwood, Halebian & Feffer, LLP 488 Madison Avenue, New York, NY, (voice) 212.935.7400, (fax) 10022, _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 2

DOCUMENTS FOR THE REFERENCE COMPLAINT
Consolidated and Amended Complaint for Violation of Federal Securities Laws - Jury Trial Demanded
Type: Complaint		Date on the document: 02/09/2004
U.S. District Court Civil Docket
Type: Docket		Date on the document: 01/24/2005
Stipulation Of Settlement
Type: Settlement		Date on the document: 06/29/2005
Notice Of Pendency Of Class Action And Proposed Settlement, Motion For Attorneys’ Fees And Final Settlement Hearing
Type: Notice		Date on the document: 07/29/2005
Proof Of Claim And Release
Type: Other		Date on the document: 07/29/2005
Order and Final Judgment
Type: Order		Date on the document: 11/29/2005
U.S. District Court Civil Docket
Type: Docket		Date on the document: 12/09/2005

OTHER DOCUMENTS
Class Action Complaint for Violation of Federal Securities Laws
Case Name and/or Number: Phyllis Maguire / 02-CV-74344
Type: Complaint		Date on the document: 11/04/2002

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