Case Page

 

Case Status:    SETTLED
On or around 12/30/2003 (Date of order of final judgment)

Filing Date: August 12, 1996

According to the most recent docket posted, the Court entered the Final Judgment signed by U.S. District Judge Sam A. Lindsay. The Lead Plaintiffs and the Class were awarded $13,750,000 as against the individual defendants. Plaintiffs' Counsel was awarded 33-1/3% of the amounts collected to date in the Gross Settlement Fund in fees and $41,475 in reimbursement of expenses. On June 9, 2005, the Court entered the Motion for Preliminary Approval of the Settlement with Defendants Gulf Insurance Co. and the Foxmeyer Corporation Bankruptcy Trustee.

By the Order entered on December 30, 2003, on September 11, 2002, the parties entered into a Memorandum of Understanding for the purposes of settling the case. The potential value of the Gross Settlement Fund is $14,250,000. This amount consists of an initial recovery of $500,000 in cash from the now bankrupt corporate Defendant and Debtor Avatex (f/k/a Foxmeyer Health Corporation), and an additional settlement amount of $13,750,000 from Individual Defendants. On December 6, 2002, the parties filed a stipulation of settlement. The Court entered the Order preliminarily approving the settlement on December 11, 2002. The Court grants the Applications for Final Approval of the Class Action Settlement and Request for Attorney Fees.

At the Corporation's request, the Court entered a stay of all discovery pending a
ruling on the Corporation's motion to dismiss, which was filed on June 20,
1997. On March 31, 1998, the Court denied the motion to dismiss the amended complaint in the lawsuit.

The Corporation and certain of its current and former officers and directors were named as defendants in a series of purported class actions filed starting in August 1996, and were then later consolidated. These actions purport to be brought on behalf of purchasers of the Corporation's common stock and the Series A and cumulative preferred stock during the period July 19, 1995, through August 27, 1996. Plaintiffs assert violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and seek unspecified money damages. Specifically, the complaints allege that the defendants made materially false and misleading statements and failed to disclose material information concerning a variety of matters, including but not limited to the terms of contracts with major customers, the Corporation's inventory management and order processing systems, and the automated warehouse at Washington Court House, Ohio; and that the Corporation's financial statements were false and misleading.

COMPANY INFORMATION:

Sector: Services
Industry: Retail (Drugs)
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: FOX
Company Market: New York SE
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. Texas
DOCKET #: 96-CV-2258
JUDGE: Hon. Robert B. Maloney
DATE FILED: 08/12/1996
CLASS PERIOD START: 07/19/1995
CLASS PERIOD END: 07/01/1996
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. 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
  2. Susman, Godfrey LLP (Dallas)
    4100 Bank of America, 901 Main Street, Susman, Godfrey LLP (Dallas), TX 75202
    214.754.1908 · mevans@susangodfrey.com
No Document Title Filing Date
COURT: N.D. Texas
DOCKET #: 96-CV-2258
JUDGE: Hon. Robert B. Maloney
DATE FILED: 05/01/1997
CLASS PERIOD START: 07/19/1995
CLASS PERIOD END: 08/27/1996
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Milberg Weiss Bershad Hynes & Lerach LLP (New York, NY)
    One Pennsylvania Plaza, Milberg Weiss Bershad Hynes & Lerach LLP (New York, NY), NY 10119-1065
    212.594.5300 ·
  2. Wolf Popper, LLP
    845 Third Avenue, Wolf Popper, LLP, NY 10022-6689
    877.370.7703 212.486.2093 · IRRep@wolfpopper.com
No Document Title Filing Date