Case Page

 

Case Status:    DISMISSED    
On or around 05/08/2000 (Date of order of final judgment)

Filing Date: November 05, 1998

According to the docket posted, on February 10, 1999, the Court entered the Amended Order signed by U.S. District Judge Maxine M. Chesney granting the plaintiffs’ motion to be appointed lead plaintiffs and approved lead plaintiffs' choice of co-lead counsel. On April 9, 1999, the plaintiffs filed a First Amended Complaint, and the defendants responded by filing a motion to dismiss the lead plaintiffs' class action complaint. On March 22, 2000, the Court entered the Order by Judge Chesney granting the defendants motion to dismiss lead plaintiffs' class action complaint and allowed the plaintiffs 30 days to file an amended complaint. Finally, on May 8, 2000, the Court entered the Order and Judgment dismissing the case. The case is closed.

The original complaint was filed alleging that defendants illegally overstated CKSG's results and misrepresented its operations. During the class period, the three senior officers who are named as defendants reaped $8,410,434 in insider trading proceeds, selling their shares at artificially inflated proceeds, according to the complaint. Specifically, the complaint alleges that during the class period defendants issued false and misleading statements and omitted material facts. In the complaint, plaintiff alleges that defendants violated Generally Accepted Accounting Practices ("GAAP"), including GAAP as it relates to revenue recognition. According to the complaint, when defendants belatedly disclosed previously concealed and misrepresented facts on Nov. 7, 1997, the stock price plunged almost 50 percent. Investors who purchased during the class period suffered huge losses.

COMPANY INFORMATION:

Sector: Services
Industry: Business Services
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: CKSG
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 #: 98-CV-4229
JUDGE: Hon. Maxine M. Chesney
DATE FILED: 11/05/1998
CLASS PERIOD START: 03/20/1997
CLASS PERIOD END: 11/07/1997
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Berger & Montague PC
    1622 Locust Street, Berger & Montague PC, PA 19103
    800.424.6690 215.875.4604 · investorprotect@bm.net
  2. 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
  3. Olsen Law Firm
    2121 K Street, N.W. Suite 800, Olsen Law Firm, DC 20037
    703.351.5199 ·
No Document Title Filing Date
COURT: N.D. California
DOCKET #: 98-CV-4229
JUDGE: Hon. Maxine M. Chesney
DATE FILED: 04/09/1999
CLASS PERIOD START: 03/20/1997
CLASS PERIOD END: 11/07/1997
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Berger & Montague PC
    1622 Locust Street, Berger & Montague PC, PA 19103
    800.424.6690 215.875.4604 · investorprotect@bm.net
  2. 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
  3. Olsen Law Firm
    2121 K Street, N.W. Suite 800, Olsen Law Firm, DC 20037
    703.351.5199 ·
No Document Title Filing Date