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Case Status:    SETTLED
On or around 08/10/1999 (Date of order of final judgment)

Filing Date: March 10, 1998

According to the Form 10-Q For The Quarterly Period Ended December 31, 1999,
CellPro, Inc. made a final distribution of funds to equity holders having received the $1.4 million proceeds from a legal settlement.

By the Order, dated May 19, 1999, U.S. District Judge Thomas S. Zilly approved the settlement with CellPro, Inc. On August 6, 1999, Judge Zilly issued an Order and Final Judgment dismissing the case against CellPro and certain individual defendants with prejudice. Further, on January 24, 2000, Judge Zilly ordered the dismissal with prejudice of another defendant in the action, Lyon & Lyon LLP. On February 4, 2000, Judge Zilly approved the settlement with Lyon & Lyon LLP. The case was closed.

The complaint alleges that CellPro and the other defendants knowingly and/or
recklessly engaged in a course of conduct designed to mislead the investing
public in order to maintain the price of CellPro common stock at artificially
high levels throughout the Class Period. It also alleges that defendants continually issued to the investing public false and misleading statements and representations concerning CellPro's products, intellectual property, and the most basic premises underlying the way CellPro intended to and did operate its business.

Specifically, the complaint charges CellPro and certain of its officers, directors and its attorneys with violations of the Securities Exchange Act of 1934. The complaint alleges that during the Class Period defendants issued false statements concerning the most basic premises underlying the way CellPro intended to and did operate its business, including a series of false statements issued by defendants about CellPro's willful infringement on patents owned by Johns Hopkins University. The complaint further alleges that CellPro and the other defendants disseminated their false statements during the Class Period in order to mislead the investing public in order to maintain the price of CellPro common stock at artificially high levels, causing the price of CellPro common stock to trade over $20 per share in early 1996.

Furthermore, the Complaint alleges that on July 28, 1997, CellPro's stock dropped to $3.50 per share upon widespread dissemination of a scathing court order issued by Judge McKelvie of the United States District Court in Delaware which ordered CellPro to pay $6.9 million in damages because CellPro was found to have willfully infringed on the Johns Hopkins patents and also ordered injunctive relief whereby CellPro has to pay 60% of its incremental profits to Baxter Corp., Becton Dickinson & Co. and Johns Hopkins University.

COMPANY INFORMATION:

Sector: Technology
Industry: Scientific & Technical Instr.
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: CPRO
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 #: 98-CV-298
JUDGE: Hon. Thomas S. Zilly
DATE FILED: 03/10/1998
CLASS PERIOD START: 03/10/1995
CLASS PERIOD END: 07/28/1997
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. 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
  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
  4. Scott & Scott LLC (Connecticut)
    P.O. Box 192, 108 Norwich Avenue, Scott & Scott LLC (Connecticut), CT 06415
    860.537.5537 860.537.4432 · scottlaw@scott-scott.com
  5. Spector Roseman & Kodroff (San Diego)
    1818 Market Street, Suite 2500, Spector Roseman & Kodroff (San Diego), PA 19103
    215.496.0300 215.496.6611 ·
  6. Yarmuth Wilsdon PLLC
    1201 Third Ave - Suite 3080, Yarmuth Wilsdon PLLC, WA 98101-3000
    206.516.3800 206.516.3888 ·
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