Quanta Capital Holdings, Ltd. - Securities Class Action

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Stanford Law School

Quanta Capital Holdings, Ltd. Summary: The original complaint charges that Defendants Quanta, Quanta officers and/or directors as well as underwriters Friedman, Billings & Ramsey, Ltd. and BB&T Capital Markets made, or facilitated, misleading statements in two prospectuses (the "Prospectuses") issued in connection with the December 14, 2005 offering of 11,423,340 common shares at $4.75 per share and 3,000,000 10.25% Series A preferred shares at $25 per share.

The complaint further alleges that with seventeen days to go in the fourth quarter, the Prospectuses stated that Quanta's estimated net losses for 2005 were $68.5 million. As revealed on March 2, 2006, the last day of the Class Period, net losses were $78.7 million -- 15% higher. As a result of this news, Quanta common stock plunged on extremely heavy trading volume from $4.73 per share to $2.83 per share, a decline of approximately 40%. Preferred Quanta shares are trading today around $18 per share -- a significant decline from the $25 preferred offering price.

In May 2007, Washington State Plumbing and Pipefitting Pension Trust was appointed lead plaintiff and Schiffrin Barroway Topaz and Kessler was appointed lead counsel. On July 16, 2007, an Amended Class Action Complaint was filed. A Corrected Amended Complaint was filed the next day. On September 28, 2007, the defendants filed several motions to dismiss the Amended Class Action Complaint. On January 22, 2009, the Defendants’ motions to dismiss were granted and the Complaint was dismissed in its entirety.

INDUSTRY CLASSIFICATION:
SIC Code: 6331
Sector: Financial
Industry: Insurance (Prop. & Casualty)

COMPANY/ISSUER NAME:	Quanta Capital Holdings, Ltd.
COMPANY/ISSUER TICKER:	QNTA
COMPANY WEBSITE:	http://www.quantaholdings.com

FIRST IDENTIFIED COMPLAINT IN THE DATABASE

Harold Zirkin, et al. v. Quanta Capital Holdings, Ltd., et al.

COURT: S.D. New York	DOCKET NUMBER: 07-CV-00851
JUDGE NAME: Hon. Robert P. Patterson
DATE FILED: 02/05/2007	SOURCE: Notice of Filing
CLASS PERIOD START: 12/14/2005	CLASS PERIOD END: 03/02/2006
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 _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 1

DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT
Class Action Complaint for Violation of Federal Securities Laws - Jury Trial Demanded
Type: Complaint		Date on the document: 02/05/2007

REFERENCE COMPLAINT

Harold Zirkin, et al. v. Quanta Capital Holdings, Ltd., et al.

COURT: S.D. New York	DOCKET NUMBER: 07-CV-00851
JUDGE NAME:
DATE FILED: 07/17/2007	SOURCE: Docket
CLASS PERIOD START: 10/04/2005	CLASS PERIOD END: 04/03/2006
TYPE OF COMPLAINT: Consolidated Complaint
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Schiffrin Barroway Topaz & Kessler, LLP (Radnor) 280 King of Prussia Road, Radnor, PA, 19087 (voice) 610.667.7706, (fax) 610.667.7056, info@sbtklaw.com _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 1

DOCUMENTS FOR THE REFERENCE COMPLAINT
Amended Class Action Complaint For Violation Of The Federal Securities Laws
Type: Complaint		Date on the document: 07/16/2007
Motion Of Defendants Friedman, Billings, Ramsey & Co., Inc. And BB&T Capital Markets, A Division Of Scott & Stringfellow, Inc., To Dismiss Amended Complaint Filed By Washington State Plumbing And Pipefitting Pension Trust
Type: Motion		Date on the document: 09/28/2007
Motion Of Defendants Friedman, Billings, Ramsey & Co., Inc. And BB&T Capital Markets, A Division Of Scott & Stringfellow, Inc., To Dismiss Corrected Amended Complaint Filed By Zirkin-Cutler Investments, Inc.
Type: Motion		Date on the document: 09/28/2007
Notice Of Motion To Dismiss
Type: Notice		Date on the document: 09/28/2007
Amended Rule 7.1 Disclosure Statement Of Defendant Friedman, Billings, Ramsey & Co., Inc.
Type: Other		Date on the document: 10/15/2007
Stipulation And Order
Type: Order		Date on the document: 11/19/2007
Opinion And Order
Type: Order		Date on the document: 01/22/2009
U.S. District Court Civil Docket
Type: Docket		Date on the document: 01/23/2009

OTHER DOCUMENTS

Case Name and/or Number:
Type:		Date on the document:

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