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Case Status:    SETTLED
On or around 12/19/2002 (Date of order of final judgment)

Filing Date: December 03, 1998

According to the docket, on October 11, 2002, a Stipulation of Settlement was filed, and on December 19, 2002, the Court entered the Final Judgment and Order of Dismissal by U.S. District Judge Saundra B. Armstrong. That day, the Court also entered the Orders granting the motion for final approval of class certification and the plan of allocation and awarded attorney fees and expenses.

By the Notice of Pendency and Settlement of Class Action and Settlement Hearing the Settlement fund consists of $4.25 million in cash. A hearing will be held on December 17, 2002, at 1:00 p.m., before the Honorable Saundra Brown Armstrong, in the United States District Court, Northern District of California, Oakland Division, 1301 Clay Street, Oakland, California 94612-5212, to determine whether the proposed Settlement of this consolidated class action between Lead Plaintiffs, individually and on behalf of the Class described below, and Defendants, for the consideration described above is fair, reasonable and adequate and should be approved by the Court.

According to the same Notice, on and after December 3, 1998, seven class actions were filed in the United States District Court for the Southern District of New York, and were subsequently consolidated on March 3, 1999. The seven actions originally filed in the Southern District of New York were transferred to the United States District Court for the Northern District of California and assigned to the Honorable Spencer L. Williams. These actions were subsequently transferred to the Oakland Division of the Northern District of California and assigned to the Honorable Saundra Brown Armstrong and consolidated for all purposes under In re Micro Focus Sec. Litig., No. C01-1352-SBA. On March 3, 1999, Seymour Lazar, Michael I. Goldman, Sol Poller (TTEE UAD, 1/23/91 Sol Poller Trust), Fred Luconi, and R. Haskell Tison were appointed Lead Plaintiffs and their choice of Milberg Weiss Bershad Hynes & Lerach LLP, Wolf Popper LLP and Burt & Pucillo LLP to act as Co-Lead Counsel for the Class was approved. The Second Consolidated Amended Class Action Complaint for Violation of the Federal Securities Laws was filed on April 17, 2000. On June 14, 2002 and June 17, 2002, respectively, Lazar and Luconi filed notices of withdrawal as lead plaintiffs.

The original Complaint charges that defendants violated Sections 11, 12 and 15 of the Securities Act of 1933 and Sections 14(a) and 20(a) of the Securities Exchange Act of 1934 by issuing materially false and misleading statements in the Proxy Statement, Prospectus and Registration Statement and by omitting to disclose facts required to be disclosed, in order to make the statements made in such documents not misleading.

COMPANY INFORMATION:

Sector: Technology
Industry: Computer Peripherals
Headquarters: United Kingdom

SECURITIES INFORMATION:

Ticker Symbol: MIFGY
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: N.D. California
DOCKET #: 98-CV-08591
JUDGE: Hon. Loretta A. Preska
DATE FILED: 12/03/1998
CLASS PERIOD START: 06/17/1998
CLASS PERIOD END: 11/12/1998
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Milberg Weiss Bershad Hynes & Lerach LLP (San Diego, CA)
    600 West Broadway, 1800 One America Plaza, Milberg Weiss Bershad Hynes & Lerach LLP (San Diego, CA), CA 92101
    800.449.4900 · support@milberg.com
No Document Title Filing Date
COURT: N.D. California
DOCKET #: 01-CV-1352
JUDGE: Hon. Loretta A. Preska
DATE FILED: 04/17/2000
CLASS PERIOD START: 06/17/1998
CLASS PERIOD END: 11/12/1998
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Milberg Weiss Bershad Hynes & Lerach LLP (San Diego, CA)
    600 West Broadway, 1800 One America Plaza, Milberg Weiss Bershad Hynes & Lerach LLP (San Diego, CA), CA 92101
    800.449.4900 · support@milberg.com
  2. Wolf Popper, LLP
    845 Third Avenue, Wolf Popper, LLP, NY 10022-6689
    877.370.7703 212.486.2093 · IRRep@wolfpopper.com
No Document Title Filing Date