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Silicon Graphics, Inc. Conclusion: According to the Notice of Settlement dated October 17, 2001, and the docket dated April 14, 2003, the parties reached a settlement agreement. The settlement creates a fund in the principal amount of $4 million in cash and 8 million freely tradeable shares of SGI common stock and will include interest that accrues on the fund prior to distribution. On January 03, 2002, the Court granted motion for approval of plan of allocation and issued the Final Judgment and Order dismissing the case with prejudice.
The original Complaint alleges that defendants made false and misleading statements about Silicon Graphics' business and financial results, including the Company's results for the fourth quarter of 1997, in order to artificially inflate the price of Silicon Graphics stock to facilitate the exchange of a new Silicon Graphics convertible security for $200 million of outstanding zero coupon debentures, while the defendants sold 286,584 shares of their Silicon Graphics' stock, pocketing $7.4 million in illegal insider-trading proceeds. After Silicon Graphics successfully completed its exchange of convertible debt, the Company revealed that its strong fourth quarter fiscal 1997 results had been the result of pulling orders in from future quarters and that first quarter fiscal 1998 would suffer a huge revenue shortfall as would later quarters. The Company also announced that Silicon Graphics CEO and Chairman, Edward McCraken, had been fired and that the Company would be restructuring its organization. These revelations resulted in Silicon Graphics' stock price dropping to less than $14 from its Class Period high of $30-5/16.
INDUSTRY CLASSIFICATION:
SIC Code: 3571
Sector: Technology
Industry: Computer Hardware
| COMPANY/ISSUER NAME: | Silicon Graphics, Inc. |
| COMPANY/ISSUER TICKER: | SGI |
| COMPANY WEBSITE: |
| FIRST IDENTIFIED COMPLAINT IN THE DATABASE | |||||||||||||||||
| Reiser, et al. v. Silicon Graphics, Inc., et al. | |||||||||||||||||
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| DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT | |||
| Complaint for Violation of the Securities Exchange Act of 1934 | |||
| Type: Complaint | Date on the document: 12/02/1997 | ||
| Declaration of Patrick J. Coughlin in Support of Allard Group's Motion To Be Appointed Lead Plaintiffs Pursuant to §21D(A)(3)(B) of the Securities Exchange Act of 1934 | |||
| Type: Declaration | Date on the document: 01/30/1998 | ||
| The Allard Group's Notice of Motion and Motion To Be Appointed Lead Plaintiffs Pursuant to §21D(A)(3)(B) of the Securities Exchange Act of 1934 | |||
| Type: Notice | Date on the document: 01/30/1998 | ||
| The Allard Group's Notice of Motion and Motion To Consolidate Cases for All Purposes | |||
| Type: Notice | Date on the document: 01/30/1998 | ||
| U.S. District Court Civil Docket | |||
| Type: Docket | Date on the document: 10/29/1999 | ||
| REFERENCE COMPLAINT | |||||||||||||||||
| In re Silicon Graphics, Inc. Securities Litigation | |||||||||||||||||
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| DOCUMENTS FOR THE REFERENCE COMPLAINT | |||
| Consolidated Complaint for Violation of the Securities Exchange Act of 1934 | |||
| Type: Complaint | Date on the document: 07/13/1998 | ||
| Defendants' Notice of Motion and Memorandum of Points and Authorities Supporting Dismissal Of The Consolidated Complaint | |||
| Type: Notice | Date on the document: 10/22/1999 | ||
| Defendants' Notice of Motion and Motion for Partial Summary Judgment and Supporting Memorandum of Points and Authorities | |||
| Type: Notice | Date on the document: 10/22/1999 | ||
| Defendants' Opposition to Plaintiffs' Motion for Voluntary Dismissal | |||
| Type: Other | Date on the document: 10/22/1999 | ||
| Notice Of Pendency And Proposed Settlement Of Class Action | |||
| Type: Settlement | Date on the document: 10/17/2001 | ||
| U.S. District Court Civil Docket | |||
| Type: Docket | Date on the document: 04/14/2003 | ||
| OTHER DOCUMENTS | |||
| Complaint for Violation of the Securities Exchange Act of 1934 | |||
| Case Name and/or Number: Zove | |||
| Type: Complaint | Date on the document: 12/03/1997 | ||
| Complaint for Violation of the Securities Exchange Act of 1934 | |||
| Case Name and/or Number: Kerr | |||
| Type: Complaint | Date on the document: 12/03/1997 | ||
| Complaint for Violation of the Securities Exchange Act of 1934 | |||
| Case Name and/or Number: Allard | |||
| Type: Complaint | Date on the document: 12/30/1997 | ||
| Complaint for Violation of the Securities Exchange Act of 1934 | |||
| Case Name and/or Number: Chiu | |||
| Type: Complaint | Date on the document: 01/22/1998 | ||
| U.S. District Court Civil Docket | |||
| Case Name and/or Number: Kerr | |||
| Type: Docket | Date on the document: 04/03/1998 | ||
| U.S. District Court Civil Docket | |||
| Case Name and/or Number: Allard | |||
| Type: Docket | Date on the document: 04/03/1998 | ||
| U.S. District Court Civil Docket | |||
| Case Name and/or Number: Chiu | |||
| Type: Docket | Date on the document: 04/03/1998 | ||
| U.S. District Court Civil Docket | |||
| Case Name and/or Number: Zove | |||
| Type: Docket | Date on the document: 01/14/1999 | ||
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