Daisytek International Corporation - Securities Class Action

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_______________
Copyright (c) 2001
Stanford Law School

Daisytek International Corporation Conclusion: According to the Final Judgment and Order of Dismissal, entered on July 21, 2005, and signed by U.S. District Judge Paul N. Brown, the settlement is approved and the action is dismissed with prejudice. That same day, the Court further entered Orders approving the Plan of Allocation of settlement proceeds and awarding lead plaintiffs’ counsel’s fees and reimbursement of expenses.

By the Notice of Pendency and Proposed Settlement of Class Action dated March 17, 2005, a settlement hearing will be held on July 20, 2005. The purpose of the Settlement Hearing will be to determine: (1) whether the settlement consisting of $6,000,000 in cash plus accrued interest should be approved as fair, just, reasonable, and adequate to each of the parties; (2) whether the proposed plan to distribute the settlement proceeds (the “Plan of Allocation”) is fair, just, reasonable, and adequate; (3) whether the application by Plaintiffs’ Counsel for an award of attorneys’ fees and reimbursement of expenses should be approved and the expenses of Lead Plaintiffs reimbursed; and (4) whether the Litigation should be dismissed with prejudice.

According to the same Notice, on June 3, 2003, Daisytek International Corporation filed a petition under Chapter 11 of the United States Bankruptcy Code and on October 16, 2003 the Litigation as against Daisytek was severed and stayed.

The original complaint charges Daisytek and certain of its officers and directors with violations of the Securities Exchange Act of 1934. The complaint alleges violations of the federal securities laws arising out of defendants' issuance of false and misleading statements about the Company's business, operating performance and prospects. Specifically, defendants were improperly accounting for uncollectible customer accounts receivables and vendor rebates receivables to inflate the Company's results. Due to Daisytek's favorable reported results, defendants were able to secure financing essential to the Company. The Company subsequently disclosed it would record "significant" write-downs of customer and vendor receivables and inventory and large restructuring charges. On this news, the Company's stock dropped to $0.53. The Company subsequently announced the resignation of its CEO and its CFO.

INDUSTRY CLASSIFICATION:
SIC Code: 5110
Sector: Consumer Non-Cyclical
Industry: Office Supplies

COMPANY/ISSUER NAME:	Daisytek International Corporation
COMPANY/ISSUER TICKER:	DZTK
COMPANY WEBSITE:	http://www.daisytek.com/

FIRST IDENTIFIED COMPLAINT IN THE DATABASE

Wahl, et al. v. Daisytek International Corporation, et al.

COURT: E.D. Texas	DOCKET NUMBER: 03-CV-0212
JUDGE NAME: Hon. Paul N. Brown
DATE FILED: 5/30/2003	SOURCE: Business Wires
CLASS PERIOD START: 11/9/2001	CLASS PERIOD END: 4/28/2003
TYPE OF COMPLAINT: Complaint (Unamended and Unconsolidated)
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Bernstein Liebhard & Lifshitz LLP (New York, NY) 10 E. 40th Street, 22nd Floor, New York, NY, 10016 (voice) 800.217.1522, (fax) , info@bernlieb.com 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, 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 Law Offices of Marc S. Henzel 335 Central Avenue, Lawrence, NY, 11559 (voice) 516.374.0707, (fax) 516.295.3473, securitiesfraud@comcast.net Lockridge, Grindal, Nauen P.L.L.P. Suite 301, 660 Pennsylvania Avenue Southeast, Washington, DC, 20003-4335 (voice) 202.544.9840, (fax) 202.544.9850, Milberg Weiss Bershad & Schulman LLP (Boca Raton) 5355 Town Center Road - Suite 900, Boca Raton, FL, 33486 (voice) 561.361.5000, (fax) 561.367.8400, Murray, Frank & Sailer LLP 275 Madison Ave 34th Flr, New York, NY, 10016 (voice) 212.682.1818, (fax) 212.682.1892, email@murrayfrank.com Schatz & Nobel, P.C. 330 Main Street, Hartford, CT, 06106 (voice) 800.797.5499, (fax) 860.493.6290, sn06106@AOL.com The Emerson Firm 2228 Cottondale Avenue, Suite 100, Little Rock, AR, 72202 (voice) 800.663.9817, (fax) 501.907.2556, epllp@emersonpoynter.com Wolf Haldenstein Adler Freeman & Herz LLP 270 Madison Avenue, New York, NY, 10016 (voice) 212.545.4600, (fax) 212.686.0114, newyork@whafh.com _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 10

DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT
Complaint For Violation Of Federal Securities Laws
Type: Complaint		Date on the document: 05/30/2003

REFERENCE COMPLAINT

In Re: Daisytek International Corporation Securities Litigation

COURT: E.D. Texas	DOCKET NUMBER: 03-CV-0212
JUDGE NAME: Hon. Paul N. Brown
DATE FILED: 2/6/2004	SOURCE: Business Wires
CLASS PERIOD START: 11/9/2001	CLASS PERIOD END: 4/28/2003
TYPE OF COMPLAINT: Consolidated and/or Amended
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Lerach Coughlin Stoia Geller Rudman & Robbins LLP (Boca Raton) 197 South Federal Highway, Suite 200, Boca Raton, FL, 33432 (voice) 561.750.3000, (fax) 56.750.3364, info@lerachlaw.com Milberg Weiss Bershad & Schulman LLP (Boca Raton) The Plaza - 5355 Town Center Road, Suite 900, Boca Raton, FL, 33486 (voice) 561.361.5000, (fax) 561.367.8400, info@milbergweiss.com Milberg Weiss Bershad Hynes & Lerach LLP (Boca Raton) The Plaza, Suite 900, 5355 Town Center Road, Boca Raton, FL, 33486 (voice) (561) 361-5000, (fax) , _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 1

DOCUMENTS FOR THE REFERENCE COMPLAINT
[Proposed] Order Preliminarily Approving Settlement and Providing for Notice
Type: Order		Date on the document: ?
Summary Notice [Exhibit A-3]
Type: Notice		Date on the document: ?
Consolidated Complaint For Violation Of The Federal Securities Laws
Type: Complaint		Date on the document: 02/06/2004
Stipulation of Settlement
Type: Settlement		Date on the document: 12/6/2004
Notice Of Pendency And Proposed Settlement Of Class Action
Type: Notice		Date on the document: 03/17/2005
Proof Of Claim And Release
Type: Other		Date on the document: 03/17/2005
Final Judgment and Order of Dismissal
Type: Order		Date on the document: 07/20/2005
Order Awarding Lead Plaintiffs' Counsel's Fees and Reimbursement of Expenses
Type: Order		Date on the document: 7/20/2005
U.S. District Court Civil Docket
Type: Docket		Date on the document: 07/20/2005

OTHER DOCUMENTS
Class Action Complaint For Violation Of The Federal Securities Laws
Case Name and/or Number: Taylor
Type: Complaint		Date on the document: 06/03/2003
Class Action Complaint For Violation Of The Federal Securities Laws
Case Name and/or Number: Sippy
Type: Complaint		Date on the document: 06/11/2003

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