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Case Status:    SETTLED
On or around 06/02/2003 (Date of order of final judgment)

Filing Date: February 25, 1999

On July 22, 2004, the Court entered the Order by U.S. District Judge Naomi Reice Buchwald granting the motion for authorizing the disbursement of the Net Settlement Fund and payment of fees and expenses to the claims administrator. Earlier, on June 2, 2003, the Court entered the Order awarding plaintiffs’ counsel attorney fees in the amount of 33 1/3 % of the current settlement fund ($3,383,333.00) and reimbursement of expenses in the amount of $538,091.83 with interest earned thereon. Representative plaintiffs Andrew Ballow, Anthony Giarletta, Carole Rothschild, Charles Simaz, Robert Siegel, Thomas J. Collard, Victoria L. Brown in reimbursement for their time and effort in aiding the prosecution of this case, were also awarded $3,000.00 each from the Settlement Fund. The Court further entered the Judgment dismissing the litigation with prejudice and the case was closed.

The Complaint charges that, during the Class Period, Complete Management, Inc. and certain of its officers and directors violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 by, among other things, knowingly or recklessly making misrepresentations about the Company's financial condition. Specifically, the Complaint alleges that CMI improperly recognized revenue on uncollectible receivables from its largest customer, Greater Metropolitan Medical Services, a related party, in violation of Generally Accepted Accounting Principles. As a result of this conduct, CMI announced on August 19, 1998 that it would be writing off $28.9 million in management fees due from GMMS and would be severing its relationship with them. The Complaint further alleges that by making these material misrepresentations, the Defendants artificially inflated the price of the Company's common stock during the Class Period. The auditor of CMI's financial statements and various underwriters of securities issued by CMI in public offerings are also named as defendants.

COMPANY INFORMATION:

Sector: Services
Industry: Business Services
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: CMI
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: S.D. New York
DOCKET #: 99-CV-1454
JUDGE: Hon. Deborah A. Batts
DATE FILED: 02/25/1999
CLASS PERIOD START: 05/01/1996
CLASS PERIOD END: 08/13/1998
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bernstein Liebhard & Lifshitz, LLP (New York)
    10 E. 40th Street, 22nd Floor, Bernstein Liebhard & Lifshitz, LLP (New York), NY 10016
    800.217.1522 · info@bernlieb.com
  2. Schatz & Nobel, P.C.
    330 Main Street, Schatz & Nobel, P.C., CT 06106
    800.797.5499 860.493.6290 · sn06106@AOL.com
  3. Shapiro Haber & Urmy LLP (Boston)
    75 State Street, Shapiro Haber & Urmy LLP (Boston), MA 02109
    617.439.3939 617.439.0134 · info@shulaw.com
  4. Stull, Stull & Brody (New York)
    6 East 45th Street, Stull, Stull & Brody (New York), NY 10017
    310.209.2468 310.209.2087 · SSBNY@aol.com
  5. Weiss & Yourman (New York, NY)
    The French Building, 551 Fifth Ave., Suite 1600, Weiss & Yourman (New York, NY), NY 10126
    212.682.3025 212.682.3010 · info@wyca.com
No Document Title Filing Date
COURT: S.D. New York
DOCKET #: 99-CV-1454
JUDGE: Hon. Deborah A. Batts
DATE FILED: 05/30/2000
CLASS PERIOD START: 05/01/1996
CLASS PERIOD END: 08/13/1998
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Stull, Stull & Brody (New York)
    6 East 45th Street, Stull, Stull & Brody (New York), NY 10017
    310.209.2468 310.209.2087 · SSBNY@aol.com
No Document Title Filing Date
No Document Title Filing Date