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Case Status:    SETTLED
On or around 11/02/1998 (Date of order of final judgment)

Filing Date: July 17, 1997

According to the docket, on November 2, 1998, the Court entered the Final Judgment and Order of Dismissal by U.S. District Judge Thomas S. Zilly. That day, the Court also entered in the Order awarding attorneys’ fees and reimbursement of expenses.

As reported in the Company's Form 10-K filing for the fiscal year ended March 31, 1999, in August 1998, the Company, its insurance carrier and the plaintiffs reached an agreement to settle the lawsuits, which had previously been consolidated as one
lawsuit. On October 30, 1998, the judge approved the Settlement. Under the terms of the Settlement, the plaintiffs received a cash payment of $1.6 million without any admission of liability or wrongdoing by the defendants.

In a Press Release dated May 7, 1998, the company said its liability insurance carrier will pay the plaintiffs $1.5 million in settlement and certain settlement
administration expenses in an amount no greater than $100,000. A three-year promissory note, payable to the insurance carrier, will finance Geographics' contribution to the settlement. Geographics, although denying liability for any alleged wrongdoing, said it decided to settle the lawsuit because of the expenses of defending itself.

According to the firm's 10-K dated March 22,1999, in 1997 the Company, the Company's President, Chief Executive Officer and Chairman of its Board of Directors; and the Company's former Vice President of Finance and Chief Financial Officer, were named as defendants in a securities action filed on July 17, 1997 in the U.S. District Court for the Western District of Washington (the "Complaint"). The Complaint was filed on behalf of a class of purchasers of the Company's Common Stock during the period beginning on August 6, 1996 (the day the Company announced financial results for the first quarter of its 1997 fiscal year) and ending on
June 12, 1997 (the "Class Period"). The Complaint alleged, among other things,
that, throughout the Class Period, the defendants inflated the price of the
Common Stock by intentionally or recklessly making material misrepresentations
or omissions which deceived the public about the Company's financial condition
and prospects. The Complaint alleges claims under Sections 10(b) and 20(a) of
the Securities Exchange Act of 1934 and seeks damages in an unstated amount. Two separate but related complaints (the "Related Complaints") naming the same
defendants and alleging substantially similar claims as set forth in the
Complaint were filed in the U.S. District Court for the Western District of
Washington on July 22, 1997 and July 23, 1997.

COMPANY INFORMATION:

Sector: Consumer Non-Cyclical
Industry: Office Supplies
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: GGIT
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. Washington
DOCKET #: 97-CV-1170
JUDGE: Hon. Thomas S. Zilly
DATE FILED: 07/17/1997
CLASS PERIOD START: 08/06/1996
CLASS PERIOD END: 06/12/1997
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Hagens Berman, LLP
    1301 Fifth Avenue Suite 2900, Hagens Berman, LLP, WA 98101
    206.623.7292 · info@hagens-berman.com
  2. Kaufman Malchman Kirby & Squire, LLP
    919 Third Ave 11th Flr, Kaufman Malchman Kirby & Squire, LLP, NY 10022
    212.371.6600 ·
No Document Title Filing Date
COURT: W.D. Washington
DOCKET #: 97-CV-1170
JUDGE: Hon. Thomas S. Zilly
DATE FILED: 12/04/1997
CLASS PERIOD START: 08/06/1996
CLASS PERIOD END: 06/12/1997
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Cohen Milstein Hausfeld & Toll PLLC (Seattle WA)
    701 Fifth Avenue, Suite 6860, Cohen Milstein Hausfeld & Toll PLLC (Seattle WA), WA 98014
    206.521.0080 206.521.0166 · lawinfo@cmht.com
  2. Hagens Berman, LLP
    1301 Fifth Avenue Suite 2900, Hagens Berman, LLP, WA 98101
    206.623.7292 · info@hagens-berman.com
  3. Kaplan Fox & Kilsheimer, LLP (former New York, NY)
    805 Third Avenue, 22nd Floor, Kaplan Fox & Kilsheimer, LLP (former New York, NY), NY 10022
    212.687.1980 212.687.7714 · info@kaplanfox.com
No Document Title Filing Date