Case Page

 

Case Status:    SETTLED
On or around 08/17/2001 (Date of order of final judgment)

Filing Date: September 09, 1996

According to the docket posted, on May 4, 2001, the Court entered the Order granting the motion for preliminary approval of the settlement and certification of the class. That same day, the Court entered the Summary of Notice of Class Action, Proposed Settlement, and Settlement Hearing. The proposed Settlement of the litigation was in the amount of $9,000,000. On August 17, 2001, the Court entered the Final Judgment by John R. Tunheim. The Court approved the settlement set forth in the settlement agreement and the case was terminated.

Earlier, on March 30, 2000, the Court entered the Memorandum, Opinion, and Order granting in part and denying in part the defendants’ motion for summary judgment. The defendants' motion was granted with regard to the members of plaintiffs' putative
class who did not purchase Grand common stock during the period from December
19, 1995 through June 6, 1996, inclusive, and their claims were dismissed
with prejudice. The defendants’ motion was denied in all other respects.

In December 1997, the court granted the Company's motion to dismiss in part, and denied the motion in part. Thus, the plaintiffs pursued the claims in the consolidated complaint that survived the Company's motion to dismiss.

In re Grand Casinos, Inc. Securities Litigation was filed in the United States District Court for the District of Minnesota. The action constitutes a consolidation of two
previously filed complaints initiated by individual shareholders. The consolidated complaint purports to seek relief on behalf of two classes of plaintiffs. The first class consists of individuals who purchased common stock of the Company during the period from December 19, 1995 through July 22, 1996. The second class consists of individuals who purchased common stock of the Company during the period from February 14, 1996 through February 22, 1996. The complaint alleges that the defendants violated Federal securities laws by making misrepresentations and engaging in proscribed trading activity.

COMPANY INFORMATION:

Sector: Services
Industry: Hotels & Motels
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: GND
Company Market: New York SE
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: D. Minnesota
DOCKET #: 96-CV-890
JUDGE: Hon. John R. Tunheim
DATE FILED: 09/09/1996
CLASS PERIOD START: 12/19/1995
CLASS PERIOD END: 07/22/1996
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Heins Mills & Olson PLC
    3550 IDS Center, 80 South Eighth Street, Heins Mills & Olson PLC, MN 55402
    612.338.4605 612.338.4692 · info@heinsmills.com
  2. Wolf, Popper, Ross, Wolf & Jones
    845 Third Avenue, Wolf, Popper, Ross, Wolf & Jones, NY 10022-6689
    212-759-4600 ·
No Document Title Filing Date
COURT: D. Minnesota
DOCKET #: 96-CV-890
JUDGE: Hon. John R. Tunheim
DATE FILED: 12/23/1996
CLASS PERIOD START: 12/19/1995
CLASS PERIOD END: 07/22/1996
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Heins Mills & Olson PLC
    3550 IDS Center, 80 South Eighth Street, Heins Mills & Olson PLC, MN 55402
    612.338.4605 612.338.4692 · info@heinsmills.com
  2. Wolf Popper, LLP
    845 Third Avenue, Wolf Popper, LLP, NY 10022-6689
    877.370.7703 212.486.2093 · IRRep@wolfpopper.com
No Document Title Filing Date
No Document Title Filing Date