Case Page

 

Case Status:    DISMISSED    
On or around 09/23/1998 (Date of order of final judgment)

Filing Date: June 11, 1997

The complaint charged California Amplifier and certain of its officers and directors with violations of the federal securities laws. The complaint alleged that during the Class Period, defendants artificially inflated California Amplifier stock by making false representations that California Amplifier was effectively competing in a rapidly growing industry, was enjoying very strong demand for its products, especially its international products, had successfully introduced its basic MultiCipher(TM) product which was enjoying strong sales (including a major sale in Thailand that would result in millions of dollars of follow-on business), was successfully developing its MultiCipher Plus(TM) product for introduction during Fiscal 1997, and expected large orders from wireless cable systems in Australia and Saudi Arabia -- all of which would result in California Amplifier achieving substantial sequential gross profit margin, revenue and earnings per share growth throughout Fiscal 1997 and Fiscal 1998, to end March 1, 1997 and February 28, 1998. However, after reporting slightly declining sales, net income and EPS in mid-June 1996, in early August 1996, California Amplifier shocked the market by admitting that it was suffering losses due to weakening demand and poor sales, long delays in receiving orders from Australia and Saudi Arabia, delays in introducing its updated MultiCipher Plus scrambling product and no follow-on orders for MultiCipher from Thailand.

According to the docket, on November the 23, 1999, the Court entered the Mandate of the Ninth Circuit Court of Appeals which affirmed the decision of the District Court. The plaintiff earlier filed the appeal on October 19, 1998, after the Court issued an Order and subsequent Judgment and Order in favor of the defendants and terminated the case.

COMPANY INFORMATION:

Sector: Technology
Industry: Communications Equipment
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: CAMP
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: C.D. California
DOCKET #: 97-CV-4293
JUDGE: Hon. Consuelo B. Marshall
DATE FILED: 06/11/1997
CLASS PERIOD START: 09/12/1995
CLASS PERIOD END: 08/08/1996
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. 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
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