Case Page

 

Case Status:    SETTLED
On or around 08/06/1999 (Other)

Filing Date: May 09, 1997

According to a Press Release dated 5/12/97, the complaint charges Delgratia and certain of its officers and directors with violations of the federal securities laws and alleges that defendants made false and misleading statements about Delgratia's Nevada gold project. Prior to announcing that Delgratia had "struck gold," the Company's stock had traded for as little as $3-1/2. However, after Delgratia's false claims of substantial gold reserves were widely disseminated in February of 1997, Delgratia shares quadrupled, reaching a high of $34-3/4 on March 19, 1997. On March 20, 1997, Delgratia's scheme began to unravel as a Nevada mining official questioned the Company's disclosures relating to its Nevada gold project. Delgratia stock dropped, dropping 50% to $16 per share on trading volume of 3.1 million shares.

COMPANY INFORMATION:

Sector: Conglomerates
Industry: Conglomerates
Headquarters: Canada

SECURITIES INFORMATION:

Ticker Symbol: DELGF
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: D. Nevada
DOCKET #: 97-CV-00573
JUDGE: Hon. David N Edelstein
DATE FILED: 05/09/1997
CLASS PERIOD START: 11/18/1996
CLASS PERIOD END: 04/11/1997
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Albright, Stoddard, Warnick & Albright
    801 South Rancho Drive, Quail Park Suite D-4, Albright, Stoddard, Warnick & Albright, NV 89106
    702.384.7111 ·
  2. Hellmuth & Johnson, P.A.
    10400 Viking Dr. Suite 560, Hellmuth & Johnson, P.A., MN 55344
    952.941.4005 952.941.2337 ·
  3. Leo W. Desmond
    2161 Palm Beach Lakes Boulevard, Suite 204, Leo W. Desmond, FL 33409
    561.712.8000 561.712.8000 · stocklaw@bellsouth.net
  4. 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
  5. 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
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