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Case Status:    SETTLED
On or around 07/29/2004 (Date of order of final judgment)

Filing Date: May 19, 1999

According to the docket dated February 10, 2005, on October 8, 2004, the Court entered the Certified copy of the Order of the 11th Circuit Court of Appeals dismissing the Notice of Appeal pursuant to the appellants' motion for voluntary dismissal. The Notice of Appeal was originally filed by the certain Individual Defendants on November 27, 2002, after U.S. District Judge Charles A. Pannell denied the defendants’ motion for judgment.

Further, on July 29, 2004, the Court entered the Final Judgment and Order of Dismissal by Judge Charles A. Pannell dismissing the action with prejudice. Judge Charles A. Pannell approved the plaintiffs' application for approval of the settlement set forth in the Stipulation of Settlement dated as of March 10, 2004. Representative Plaintiffs' Counsel was awarded $1,000,000.00 as attorney fees and $259,202.12 as reimbursement of expenses.

The lawsuit charges Maxim and several of its top officers with violations of the securities laws and regulations of the United States. The complaint alleges that defendants issued a series of false and misleading statements concerning the Company's revenues during the 2nd, 3rd and 4th quarters of its 1999 fiscal year. The Company announced on May 19, 1999 that due to the incorrect statement of its revenues in the last three quarters of 1999 it would have to restate those results downwards. Upon the announcement of the restatement of its financial results the Company's stock price dropped approximately 15% on extraordinarily heavy trading volume. The complaint further alleges that certain Company insiders took advantage of their knowledge of the inflation in the Company's stock price to sell significant portions of their own company holdings for proceeds of at least $25,000,000.

COMPANY INFORMATION:

Sector: Consumer Cyclical
Industry: Furniture & Fixtures
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: MXG
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: N.D. Georgia
DOCKET #: 99-CV-01280
JUDGE: Hon. Marvin H. Shoob
DATE FILED: 05/19/1999
CLASS PERIOD START: 08/31/1998
CLASS PERIOD END: 05/19/1999
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Abbey Gardy & Squiteri LLP (San Francisco)
    595 Market Street, Suite 2500, Abbey Gardy & Squiteri LLP (San Francisco), CA 94105
    415.538.3725 ·
  2. Chitwood & Harley LLP
    1230 Peachtree Street, N.E., 2300 Promenade II, Chitwood & Harley LLP, GA 30309
    888.873.3999 404.873.4476 · info@chitwoodlaw.com
  3. Wolf Haldenstein Adler Freeman & Herz LLP (New York)
    270 Madison Avenue, Wolf Haldenstein Adler Freeman & Herz LLP (New York), NY 10016
    212.545.4600 212.686.0114 · newyork@whafh.com
No Document Title Filing Date
COURT: N.D. Georgia
DOCKET #: 99-CV-01280
JUDGE: Hon. Marvin H. Shoob
DATE FILED: 04/10/2000
CLASS PERIOD START: 09/01/1998
CLASS PERIOD END: 05/19/1999
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Gambrell & Stolz LLP
    3414 Peachtree Road, N.E., Suite 1600, Monarch Plaza, Gambrell & Stolz LLP, GA 30326
    ·
  2. Kirby McInerney & Squire LLP
    830 Third Avenue 10th Floor, Kirby McInerney & Squire LLP, NY 10022
    212.317.2300 ·
No Document Title Filing Date
No Document Title Filing Date