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Case Status:    DISMISSED    
On or around 03/27/2000 (Other)

Filing Date: July 08, 1998

According to the docket posted, on November 16, 1998, a Consolidated Class Action Complaint was field, and on December 29, 1998, the defendants responded by filing a motion to dismiss the complaint. On October 5, 1999, the Court entered the Memorandum Opinion and Order #82936, signed by U.S. District Judge John S. Martin dismissing the case. Judgment was entered on October 7, 1999, and the case was closed. On October 20, 1999, the plaintiffs filed a notice of appeal which was later withdrawn from the U.S. Court of Appeals.

The original complaint alleges that Crystallex and its chief
executive officer violated the Securities Exchange
Act of 1934 by making a series of false and misleading statements
concerning Crystallex's interest in two gold mining concessions, the Las
Cristinas 4 & 6 concessions, in Kilometer 88, Venezuela. These
concessions are reported to contain 11.8 million ounces of gold, making
it the largest gold deposit in Venezuela, the complaint alleges. In
particular, it is alleged that defendants claimed that Crystallex had
acquired the rights to the Las Cristinas concessions, when in fact it
had not. The company further claimed, it is alleged, that the rights of
its rival, Placer Dome, a multinational mining company, to explore these
concessions, received pursuant to a joint venture agreement with
Corporacion Venezolana de Guyana, a Venezuelan company owned and
operated by the Venezuelan government, were in question because of the
lack of authority of CVG to grant rights to these concessions.
Throughout the class period, it is alleged, Crystallex continued to
dispute the right of Placer Dome, pursuant to its joint venture
agreement with CVG, to the Las Cristinas concessions and continued to
claim the right to those concessions for itself. The complaint alleges
that as a result of these false and misleading statements the price of
Crystallex common stock was artificially inflated throughout the class
period causing plaintiff and the other members of the class to suffer
damages.

COMPANY INFORMATION:

Sector: Basic Materials
Industry: Gold & Silver
Headquarters: Canada

SECURITIES INFORMATION:

Ticker Symbol: KRY
Company Market: American 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 #: 98-CV-4810
JUDGE: Hon. John S. Martin
DATE FILED: 07/08/1998
CLASS PERIOD START: 03/03/1997
CLASS PERIOD END: 06/12/1998
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Rabin & Peckel LLP
    275 Madison Avenue, 34th Floor, Rabin & Peckel LLP, NY 10016
    212.682.1818 212.682.1892 · email@rabinlaw.com
No Document Title Filing Date
COURT: S.D. New York
DOCKET #: 98-CV-4810
JUDGE: Hon. John S. Martin
DATE FILED: 11/16/1998
CLASS PERIOD START: 03/03/1997
CLASS PERIOD END: 06/12/1998
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Rabin & Peckel LLP
    275 Madison Avenue, 34th Floor, Rabin & Peckel LLP, NY 10016
    212.682.1818 212.682.1892 · email@rabinlaw.com
No Document Title Filing Date