Case Page

 

Case Status:    DISMISSED    
On or around 09/07/1999 (Other)

Filing Date: August 02, 1996

According to the docket posted, on September 7, 1999, the Court entered the certified copy of the Judgment issued in lieu of a formal mandate from the U.S. Court of Appeals. According to the Judgment, the District Court’s judgment to dismiss the Amended Complaint is affirmed.

As summarized by the Company’s FORM 10-Q for the twelve weeks ended May 1, 1999, Defendants moved to dismiss the Complaint on December 2, 1996 and plaintiffs subsequently filed an Amended Complaint dated March 21, 1997. On March 30, 1998, the Court granted the motions of all defendants to dismiss the Amended Complaint with prejudice. On April 20, 1998, the plaintiffs filed a Notice of Appeal with the United States Court of Appeals for the Third Circuit. The appeal has been fully briefed and was argued on December 2, 1998.

On August 2, 1996, an action was commenced against the Company in the United States District Court for the Western District of Pennsylvania entitled Klein et al. v. General Nutrition Companies, Inc. et al., Civil Action No. 96-1455. Plaintiffs assert that the Company is liable for violations of Sections 11 and 12(a)(2) of the Securities Act of 1933 and Section 1-501(a) of the Pennsylvania Securities Act, arising out of allegedly false and misleading statements in the Prospectus and Registration Statement for a public offering of common stock of the Company which took place on February 7, 1996, and for violations of Section 10(b) of the Securities Exchange Act of 1934 and for negligent misrepresentation arising out of allegedly false and misleading public statements during the period from the public offering through May 28, 1996. Plaintiffs also allege that certain officers, directors and shareholders of the Company, as well as the underwriters for the public offering, are liable for other violations of the federal and state securities laws and for negligent misrepresentation.

The first filed class action complaint was filed on June 24, 1996, Lavalla v. Lee et al, C.A. No.15080, was against the Company and two directors and shareholders in the Court of Chancery of the State of Delaware, Newcastle County, alleging violations of the federal securities laws arising out of the Prospectus and Registration Statement (the "Prospectus") for a public offering of common stock of the Company which took place on February 7, 1996 (the "Public Offering"). The action was dismissed without prejudice on December 29, 1997 pursuant to the parties' stipulation. The named plaintiff, Gaetan Lavalla, subsequently became a named plaintiff in Klein et al v. General Nutrition Companies, Inc. et al.

COMPANY INFORMATION:

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

SECURITIES INFORMATION:

Ticker Symbol: GNCI
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: W.D. Pennsylvania
DOCKET #: 96-CV-1455
JUDGE: Hon. William L. Standish
DATE FILED: 08/02/1996
CLASS PERIOD START: 02/07/1996
CLASS PERIOD END: 05/28/1996
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Alfred G. Yates, Jr. Law Firm
    429 Forbes Avenue, 519 Allegheny Building, Alfred G. Yates, Jr. Law Firm, PA 15219
    412.391.5164 ·
  2. 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
  3. 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
COURT: W.D. Pennsylvania
DOCKET #: 96-CV-1455
JUDGE: Hon. William L. Standish
DATE FILED: 03/21/1997
CLASS PERIOD START: 02/07/1996
CLASS PERIOD END: 05/28/1996
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Alfred G. Yates, Jr. Law Firm
    429 Forbes Avenue, 519 Allegheny Building, Alfred G. Yates, Jr. Law Firm, PA 15219
    412.391.5164 ·
  2. Barrack, Rodos & Bacine (Main office, Philadelphia)
    Two Commerce Square, 2001 Market Street, Suite 3300 , Barrack, Rodos & Bacine (Main office, Philadelphia), PA 19103
    215.963.0600 215.963.0838 · info@barrack.com
  3. 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 ·
No Document Title Filing Date
No Document Title Filing Date