Just For Feet, Inc. - Securities Class Action

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_______________
Copyright (c) 2001
Stanford Law School

Just For Feet, Inc. Conclusion: According to the docket, on March 4, 2002, the Court entered the Final Judgment and Order of Dismissal with prejudice approving the Stipulation of Partial Settlement between and among the plaintiff Class and former Just For Feet, Inc. employees, officers, and/or directors. Also that day, the Court further entered the Final Order and Judgment approving the Stipulation and Agreement of Settlement between and among the Class and defendants Deloitte & Touche, LLP, and certain individual defendants. A notice of appeal was soon after filed by the defendant over the Final Judgment and Order of Dismissal with prejudice and the plaintiffs filed a notice of appeal regarding the Order awarding fees and reimbursement of expenses.

The Notice of Settlement announces that the proposed Just For Feet Settlement creates a fund in the amount of approximately $24.5 million in cash, plus interest that accrues on the fund prior to distribution. In addition, the proposed Deloitte Settlement creates a fund in the amount of $7,400,000 in cash, plus interest that accrues on the fund prior to distribution.

The original securities class action complaint charges the defendants with violations of the federal securities laws (specifically, sections 10(b) and 20 of the Securities Exchange Act of 1934, and Rule 10b-5 promulgated thereunder by the Securities Exchange Commission) by, among other things, misrepresenting and/or omitting material information concerning the Company's net earnings. The complaint further charges that these misrepresentations were the result of the combined defendants actions in, among other things, creating false billings for advertising and fixed asset costs to its vendors, understating its cost of sales through acquisition accounting, capitalizing inventory costs that should have been recorded as expenses, overstating inventory by failing to account for missing or obsolete inventory, and creating fictitious postings to both the inventory and expense accounts. The price of Just for Feet's shares were thereby artificially inflating during the Class Period.

The defendants named in the action are certain key officers and controlling personnel of Just for Feet, Inc. and the Company's auditors, Deloitte & Touche, L.L.P. This action is not brought against the Company, who announced on November 2, 1999, that it was seeking Chapter XI bankruptcy protection.

INDUSTRY CLASSIFICATION:
SIC Code: 5661
Sector: Services
Industry: Retail (Apparel)

COMPANY/ISSUER NAME:	Just For Feet, Inc.
COMPANY/ISSUER TICKER:	FEET
COMPANY WEBSITE:

FIRST IDENTIFIED COMPLAINT IN THE DATABASE

Peter H. Burke, et al. v. Ruttenberg, et al.

COURT: N.D. Alabama	DOCKET NUMBER: 99-CV-03097
JUDGE NAME: Hon. H. D. Buttram
DATE FILED: 11/19/1999	SOURCE: Notice of Filing
CLASS PERIOD START: 04/01/1997	CLASS PERIOD END: 11/01/1999
TYPE OF COMPLAINT: Complaint (Unamended and Unconsolidated)
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Grant & Eisenhofer (Wilmington) 1201 N. Market Street, Suite 2100, Wilmington, DE, 19801 (voice) 302.622.7000, (fax) 302.622.7100, lawyers@gelaw.com Hare Wynn Newell & Newton, LLP Massey Building, Suite 800; 2025 3rd Avenue, North, Birmingham, AL, 35203-3331 (voice) (205) 328-5330, (fax) (205) 324-2165, Haskell Slaughter Young & Rediker, LLC 1400 Park Place Tower; 2001 Park Place North, Suite 1400, Birmingham, AL, 35203-2700 (voice) (205) 251-1000, (fax) (205) 324-1133, ter@hsy.com Milberg Weiss Bershad Hynes & Lerach LLP (New York, NY) One Pennsylvania Plaza, New York, NY, 10119-1065 (voice) 212.594.5300, (fax) , Ritchie & Rediker, L.L.C. 312 North 23rd Street, Birmingham, AL, 35203 (voice) 1800.251.1127, (fax) 205.324.7830, tkrebs@ritchie-rediker.com _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 5

DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT
Class Action Complaint
Type: Complaint		Date on the document: 11/18/1999

REFERENCE COMPLAINT

State of Wisconsin Investment Board, et al. v. Ruttenberg, et al.

COURT: N.D. Alabama	DOCKET NUMBER: 99-CV-03097
JUDGE NAME: Hon. H. D. Buttram
DATE FILED: 06/15/2000	SOURCE: Docket
CLASS PERIOD START: 05/05/1997	CLASS PERIOD END: 11/01/1999
TYPE OF COMPLAINT: Consolidated Complaint
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Grant & Eisenhofer (Wilmington) 1201 N. Market Street, Suite 2100, Wilmington, DE, 19801 (voice) 302.622.7000, (fax) 302.622.7100, lawyers@gelaw.com M. Clay Ragsdale (former) 1929 Third Avenue North, Suite 550, Birmingham, AL, 35203 (voice) (205)251-4775, (fax) (205)251-4777, Ritchie & Rediker, L.L.C. 312 North 23rd Street, Birmingham, AL, 35203 (voice) 1800.251.1127, (fax) 205.324.7830, tkrebs@ritchie-rediker.com _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 3

DOCUMENTS FOR THE REFERENCE COMPLAINT
Consolidated Class Action Complaint
Type: Complaint		Date on the document: 06/15/2000
Stipulation Of Partial Settlement
Type: Settlement		Date on the document: 12/26/2001
Stipulation And Agreement Of Settlement
Type: Settlement		Date on the document: 01/07/2002
Notice Of Class Certification And Settlement Of Class Action
Type: Notice		Date on the document: 01/11/2002
Final Judgment and Order of Dismissal With Prejudice
Type: Order		Date on the document: 03/04/2002
Final Order and Judgment
Type: Order		Date on the document: 03/04/2002
Final Order
Type: Order		Date on the document: 07/14/2005
U.S. District Court Civil Docket
Type: Docket		Date on the document: 08/15/2005
U.S. District Court Civil Docket
Type: Docket		Date on the document: 2/5/2007

OTHER DOCUMENTS
U.S. District Court Civil Docket
Case Name and/or Number: Massey , et al. v. Ruttenberg, et al.
Type: Docket		Date on the document: 08/15/2005

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