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Case Status:    DISMISSED    
On or around 08/31/1998 (Date of order of final judgment)

Filing Date: December 18, 1997

According to a press release dated September 2, 1998, a class action suit filed on December 18, 1997, in the United States District Court for the Eastern District of New York (Civil Action No. CV-97-7457 (DRH)), alleging that Cognos, Inc. (Nasdaq: COGNF) and certain of its officers and directors violated the federal securities laws, has been voluntarily dismissed without prejudice. The class action was filed on behalf of purchasers of Cognos, Inc. common stock during the period of June 3, 1997 through September 25, 1997.

The Complaint asserts claims under the federal securities laws, including
claims for violation of Sections 10(b) and 20(a) of the Securities Exchange Act
of 1934, and SEC Rule lOb-5. Plaintiff seeks to recover losses suffered by
investors who purchased Cognos securities. The lawsuit alleges that Cognos and
certain of its officers and directors engaged in a scheme to artificially
inflate the market price of Cognos common stock during the Class Period, and
enable Cognos insiders to sell their own shares at artificially high prices.
During the Class Period, the defendants issued releases, statements and reports
which misrepresented Cognos's business prospects and inflated the market price
of Cognos's common stock, while Cognos insiders sold significant amounts of
their stock holdings. Cognos' stock rose to approximately $31 per share,
before the investing public was informed that the Company was experiencing a
decline in orders for its products. On September 25, 1997, defendants finally
revealed the truth about the weakening product orders, albeit buried within a
press release that described Cognos' second quarter in glowing terms. On that
very day, Cognos stock price plunged 32% from $32-3/4 per share, to $22-1/16
per share.


Sector: Technology
Industry: Software & Programming
Headquarters: Canada


Ticker Symbol: COGN
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: E.D. New York
DOCKET #: 97-CV-7457
JUDGE: Hon. Denis R. Hurley
DATE FILED: 12/18/1997
CLASS PERIOD END: 09/25/1997
  1. Kaufman Malchman Kirby & Squire, LLP
    919 Third Ave 11th Flr, Kaufman Malchman Kirby & Squire, LLP, NY 10022
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