According to the docket posted on the site, on August 10, 2000, the plaintiffs and defendants entered into a Stipulation and Agreement of Settlement. On October 26, 2000, Order and Final Judgment for Bernard Indart against Fine Host Corp, Deloitte & Touche, NationsBanc, CIBC Oppenheimer and certain Individual Defendants was signed by Judge Janet C. Hall. The settlement was approved and the case settled.
Furthermore, on February 13, 1998, the plaintiffs in the actions had filed a Motion for Consolidation and for Appointment as Lead Plaintiffs and for Approval of A Selection of Lead Counsel (the "Motion"). On March 25, 1998, the Motion was granted. Lead Plaintiffs filed a Consolidated Amended Complaint on May 14, 1998. On June 29, 1998, the Company and certain of the individual defendants moved to dismiss the claim asserted under Section 11 of the Securities Act of 1933. The other individual defendants moved to dismiss the complaint in its entirety. On October 22, 1998, the Court granted the motion to dismiss the entire complaint as to certain individual defendants and denied the Company's motion to dismiss the claim asserted under Section 11 of the Securities Act of 1933. On December 9, 1998, the plaintiffs amended the complaint to add Deloitte & Touche LLP as a defendant. On March 10, 1999, the plaintiffs further amended the complaint to add William R. Berkley, former director and Chairman of the Board of the Company, Joshua A. Polan, former director of the Company, NationsBank Montgomery Securities and CIBC Oppenheimer defendants.
The original complaint charges Fine Host Corp. and certain officers and directors of the Company during the relevant time period with violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, by, among other things, issuing to the investing public false and misleading financial statements and press releases concerning Fine Host's assets, income, earnings and expenses. Because of the issuance of a series of false and misleading financial statements and press releases concerning Fine Host's financial results, the price of Fine Host common stock was artificially inflated during the Class Period.