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Case Status:    DISMISSED    
On or around 08/07/2000 (Date of order of final judgment)

Filing Date: December 31, 1997

The Complaint charges EFII and certain of its officers and directors with violations of securities laws for misrepresenting the status and strength of EFII's business operations and earnings growth. By concealing the true facts about, inter alia, the enormous build-up of unsold and excess inventory in the hands of EFII's Japanese OEM customers which represented approximately half of the Company's quarterly revenue and the delay in development and customer acceptance of its new products and technology, defendants artificially inflated EFII's stock price to as high as $56.50 a share during the Class Period, allowing EFII's top insiders to sell more than $11 million of their EFII stock at prices as high as $55 per share.

On April 9, 1998, District Court Judge Charles A. Legge granted The Khaled Group's motion for appointment of lead plaintiffs and lead counsel. On September 15, 1998, the lead plaintiff filed an Amended Class Action Complaint. On July 19, 1999, two individual defendants were voluntarily dismissed from the action without prejudice. On November 12, 1999, the Judge denied the plaintiffs' motion to dismiss defendants' counterclaim for declaratory relief and motion for voluntary dismissal. On February 18, 2000, the plaintiffs filed a renewed motion to dismiss defendants' counterclaim for declaratory relief and for voluntary dismissal pursuant to Rule 41(a)(2). On August 7, 2000, the plaintiffs’ motion to dismiss the complaint was granted with prejudice while the defendants’ motion to amend the counterclaim and motion for sanctions were denied. Judgment was entered and the complaint was dismissed. On August 10, 2000, the defendant filed a notice of appeal from the District Court’s judgment and order. On September 24, 2001, the District Court entered the certified copy of the Order from the U.S. Court of Appeals for the Ninth Circuit, affirming the decision of the District Court.

COMPANY INFORMATION:

Sector: Technology
Industry: Computer Hardware
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: EFII
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: N.D. California
DOCKET #: 97-CV-4739
JUDGE: Hon. Charles A. Legge
DATE FILED: 12/31/1997
CLASS PERIOD START: 04/10/1997
CLASS PERIOD END: 12/11/1997
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Weiss & Yourman (Los Angeles, CA)
    10940 Wilshire Blvd - 24th Floor, Weiss & Yourman (Los Angeles, CA), CA 90024
    310.208.2800 310.209.2348 · info@wyca.com
  2. Weiss & Yourman (New York, NY)
    The French Building, 551 Fifth Ave., Suite 1600, Weiss & Yourman (New York, NY), NY 10126
    212.682.3025 212.682.3010 · info@wyca.com
No Document Title Filing Date
COURT: N.D. California
DOCKET #: 97-CV-4739
JUDGE: Hon. Charles A. Legge
DATE FILED: 09/15/1998
CLASS PERIOD START: 04/10/1997
CLASS PERIOD END: 12/11/1997
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Barrack, Rodos & Bacine (San Diego - former)
    402 West Broadway , Barrack, Rodos & Bacine (San Diego - former), CA 92101
    619.230.0800 619.230.1874 · info@barrack.com
  2. Kaufman Malchman Kirby & Squire, LLP
    919 Third Ave 11th Flr, Kaufman Malchman Kirby & Squire, LLP, NY 10022
    212.371.6600 ·
  3. Milberg Weiss Bershad Hynes & Lerach LLP (S.F., CA)
    100 Pine Street - Suite 2600, Milberg Weiss Bershad Hynes & Lerach LLP (S.F., CA), CA 94111
    415.288.4545 415.288.4534 ·
  4. Milberg Weiss Bershad Hynes & Lerach LLP (San Diego, CA)
    600 West Broadway, 1800 One America Plaza, Milberg Weiss Bershad Hynes & Lerach LLP (San Diego, CA), CA 92101
    800.449.4900 · support@milberg.com
No Document Title Filing Date