According to the docket posted, on July 12, 2000, the Court entered the Order by U.S. District Judge Consuelo B. Marshall awarding attorneys’ fees to plaintiffs’ counsel in the amount of 25% of the settlement amount and reimbursement of litigation expenses. On July 21, 2000, the Court entered the Order and Final Judgment by Judge Consuelo B. Marshall. The Court conditionally certifies the federal litigation as a class action, and, pursuant to Rule 23 of the FRCP, the Court approves the settlement as set forth in the stipulation and finds that the settlement is fair.
On July 20, 1998, the Court appointed lead plaintiff and lead counsel, and granted the motion to consolidate the actions. On September 11, 1998, the plaintiff filed a Consolidated Amended Complaint, and on January 8, 1999, the defendants responded by filing motions to dismiss the Consolidated Amended Complaint. Before the judge ruled on the motions to dismiss, a Second Consolidated Amended Complaint was filed. On November 16, 1999, a Stipulation for Settlement was filed, and on December 16, 1999, the court entered the Order preliminarily approving the settlement.
The original Complaint charges that defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10-b(5) by, among other things: issuing false misleading statements regarding CyberMedia's financial condition as well as its present and future business prospects and improperly accounting for its return reserves in violation of Generally Accepted Accounting Principles.