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Riverstone Networks, Inc. Conclusion: On December 26, 2007, the Court entered the Mandate from the U.S. Court of Appeals for the Ninth Circuit. According to the Mandate, the judgment of the District Court is affirmed.
According to the latest docket posted, on April 28, 2005, the Court entered the final Judgment and Order of Dismissal signed by U.S. District Judge Phyllis J. Hamilton approving the settlement. On October 19, 2005, the Court issued an Order regarding motions for attorneys’ fees, and on November 18, 2005, a Notice of Appeal as to the Order was filed.
In a Press Release dated May 3, 2004, the Company announced an agreement in principle to settle all securities class action lawsuits pending against it, subject to court approval, and expects to pay the agreed upon $18.5 million settlement into an escrow fund in June 2004. The Company is continuing to negotiate with the insurance carriers on their reimbursement of this settlement.
The original Complaint charges that defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10-b(5). The action alleges that defendants issued a series of false and misleading statements concerning the Company's financial condition and sales. Specifically, defendants misled the investing community concerning the true effect that the downturn in telecom spending had upon the Company.
INDUSTRY CLASSIFICATION:
SIC Code: 3576
Sector: Technology
Industry: Computer Hardware
| COMPANY/ISSUER NAME: | Riverstone Networks, Inc. |
| COMPANY/ISSUER TICKER: | RSTN |
| COMPANY WEBSITE: | http://www.riverstonenet.com |
| FIRST IDENTIFIED COMPLAINT IN THE DATABASE | |||||||||||||||||
| Dennis Pasparage, et al. v. Riverstone Networks, Inc., et al. | |||||||||||||||||
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| REFERENCE COMPLAINT | |||||||||||||||||
| In re Riverstone Networks, Inc., Securities Litigation | |||||||||||||||||
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| OTHER DOCUMENTS | |||
| Complaint For The Violation Of The Federal Securities Laws | |||
| Case Name and/or Number: Quinn | |||
| Type: Complaint | Date on the document: 08/02/2002 | ||
| U.S. Court of Appeals Docket | |||
| Case Name and/or Number: Pasparage, et al. v. Chandler, et al. | |||
| Type: Docket | Date on the document: 11/28/2007 | ||
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