Vans, Inc. - Securities Class Action

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_______________
Copyright (c) 2001
Stanford Law School

Vans, Inc. Conclusion: According to the docket posted, on November 2, 2005, the Court entered the Final Judgment and Order of Dismissal with Prejudice, signed by U.S. District Judge A. Howard Matz. The settlement as set forth in the Stipulation of Settlement is approved and the case is dismissed with prejudice. The Court further entered that day the Orders approving the Plan of Allocation and awarding lead counsel attorneys’ fees and reimbursement of expenses.

On May 9, 2005, the Court entered the Order Dismissing the Civil Actions by Virtue of Settlement by U.S. District Judge A. Howard Matz. By the Order, the action is dismissed without prejudice to the right, upon good cause shown within 45 days, to reopen this action if settlement is not consummated. On June 10, 2005, a Stipulation of Settlement was filed. On August 24, 2005, the Court entered the Revised Order Preliminarily Approving Settlement and Providing for Notice. By the Notice of Settlement, the proposed settlement created a fund in the amount of $4,600,000 in cash. The settlement hearing is scheduled for October 31, 2005.

The original complaint charges Vans and certain of its officers and directors with violations of the Securities Exchange Act of 1934. The complaint alleges that beginning in 1998, defendants orchestrated a scheme wherein on a routine basis Vans “posted” product to three separate Distribution Centers, including Unique Services, Pronto Services and Special Dispatcher, in order to inflate EPS on a quarterly basis. This scheme took place each quarter, causing Vans’ quarterly financial statements to be false. Moreover, defendants actively concealed that literally millions of dollars worth of Vans’ valuable inventory was worth a fraction of the value claimed.

The complaint further allege that as a result of the defendants’ false statements, Vans’ stock price traded at inflated levels during the Class Period, increasing to as high as $24.59 on May 31, 2001, whereby the Company and its top officers and directors caused to be sold $60 million worth of Vans shares. Plaintiff seeks to recover damages on behalf of all purchasers of Vans common stock during the Class Period (the “Class”). The plaintiff is represented by Milberg Weiss Bershad Hynes & Lerach LLP, who has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.

INDUSTRY CLASSIFICATION:
SIC Code: 3021
Sector: Consumer Cyclical
Industry: Footwear

COMPANY/ISSUER NAME:	Vans, Inc.
COMPANY/ISSUER TICKER:	VANS
COMPANY WEBSITE:	http://www.vans.com

FIRST IDENTIFIED COMPLAINT IN THE DATABASE

City of Dearborn Heights Act 345 Police & Fire Retirement System, et al. v. Vans, Inc., et al.

COURT: C.D. California	DOCKET NUMBER: 04-CV-0431
JUDGE NAME: Hon. Carolyn Turchin
DATE FILED: 01/23/2004	SOURCE: Complaint
CLASS PERIOD START: 03/24/1999	CLASS PERIOD END: 05/23/2002
TYPE OF COMPLAINT: Unamended/Unconsolidated
PLAINTIFF FIRMS IN THIS OR SIMILAR CASE:
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 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 (New York) 200 Broadhollow, Suite 406, Melville, NY, 11747 (voice) 631.367.7100, (fax) 631.367.1173, Law Offices of Brian M. Felgoise, P.C. Esquire at 261 Old York Road, Suite 423, Jenkintown, PA, 19046 (voice) 215.886.1900, (fax) , securitiesfraud@comcast.net 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 (S.F., CA) 100 Pine Street - Suite 2600, San Francisco, CA, 94111 (voice) 415.288.4545, (fax) 415.288.4534, _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 6

DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT
Class Action Complaint
Type: Complaint		Date on the document: 01/23/2004
U.S. District Court Civil Docket
Type: Docket		Date on the document: 06/22/2004

REFERENCE COMPLAINT

In Re: Vans, Inc. Securities Litigation

COURT: C.D. California	DOCKET NUMBER: 04-CV-0431
JUDGE NAME: Hon. A Howard Matz
DATE FILED: 02/14/2005	SOURCE: Business Wires
CLASS PERIOD START: 03/24/1999	CLASS PERIOD END: 05/23/2002
TYPE OF COMPLAINT: Second Amended and Consolidated
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Lerach Coughlin Stoia Geller Rudman & Robbins LLP (Los Angeles) 355 S. Grand Avenue, Suite 4170, Los Angeles, CA, 90071 (voice) 213.617.9007, (fax) 213.617.9185, info@lerachlaw.com Lerach Coughlin Stoia Geller Rudman & Robbins LLP (San Diego) 401 B Street, Suite 1700, San Diego, CA, 92101 (voice) 206.749.5544, (fax) 206.749.9978, info@lerachlaw.com Milberg Weiss Bershad & Schulman LLP 355 South Grand Avenue, Suite 4170, Los Angeles, CA, 90071 (voice) 213.617.9007, (fax) 213.617.9185, info@milbergweiss.com Milberg Weiss Bershad Hynes & Lerach LLP (Los Angeles, CA) 355 S Grand Ave - Ste 4170, Los Angeles, CA, 90071-3172 (voice) 213.617.9007, (fax) , Milberg Weiss Bershad Hynes & Lerach LLP (San Diego, CA) 600 West Broadway, 1800 One America Plaza, San Diego, CA, 92101 (voice) 800.449.4900, (fax) , support@milberg.com _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 5

DOCUMENTS FOR THE REFERENCE COMPLAINT
Declaration Of Richard D. North In Support Of Defendants’ Request For Judicial Notice
Type: Declaration		Date on the document: 10/29/2004
Defendants’ Notice Of Motion And Motion To Dismiss Amended Consolidated Complaint; And Memorandum Of Points And Authorities In Support Thereof
Type: Motion		Date on the document: 10/29/2004
Defendants’ Request For Judicial Notice Of Documents In Support Of Defendants’ Motion To Dismiss Consolidated Complaint
Type: Other		Date on the document: 10/29/2004
[Proposed] Order Granting Defendants’ Motion To Amended Consolidated Class Action Complaint
Type: Order		Date on the document: 10/29/2004
[Proposed] Order Granting Defendants’ Request For Judicial Notice
Type: Order		Date on the document: 10/29/2004
Declaration Of Richard D. North In Support Of Defendants’ Supplemental Request For Judicial Notice
Type: Declaration		Date on the document: 01/31/2005
Defendants’ Supplemental Request For Judicial Notice Of Documents In Support Of Defendants' Reply Memorandum in Support of Denfendants' Motion To Dismiss The Amended Consolidated Complaint
Type: Other		Date on the document: 01/31/2005
Reply Memorandum in Support of Defendants' Motion to Dismiss the Amended Consolidated Complaint
Type: Memorandum		Date on the document: 01/31/2005
Memorandum of Points in Authorities in support of Mtn. to Dismiss Second Consolidated Complaint
Type: Memorandum		Date on the document: 03/15/2005
U.S. District Court Civil Docket
Type: Docket		Date on the document: 04/12/2005
Reply Memorandum In Support Of Defendants' Motion To Dismiss The Second Amended Consolidated Complaint
Type: Memorandum		Date on the document: 04/26/2005
[Proposed] Order Preliminarily Approving Settlement And Providing For Notice
Type: Order		Date on the document: 06/09/2005
Revised [Proposed] Order Preliminarily Approving Settlement And Providing For Notice
Type: Order		Date on the document: 07/25/2005
Notice Of Settlement Of Class Action
Type: Notice		Date on the document: 08/23/2005
Proof of Claim and Release
Type: Other		Date on the document: 08/23/2005
Request For Exclusion Form
Type: Other		Date on the document: 08/23/2005
Final Judgment and Order of Dismissal with Prejudice
Type: Order		Date on the document: 11/01/2005
U.S. District Court Civil Docket
Type: Docket		Date on the document: 11/01/2005

OTHER DOCUMENTS
Class Action Complaint
Case Name and/or Number: Lechter
Type: Complaint		Date on the document: 02/02/2004

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