According to the latest docket posted, on September 11, 2002, the Court entered the Order and Final Judgment signed by U.S. District Judge John G. Koeltl. Pursuant to FRCP 23, the Court approves the Settlement set forth in the Stipulation and finds that said Settlement is, in all respects, fair, just, reasonable and adequate to the Class. The Action and all claims contained therein, as well as all of the Released Clams, are dismissed with prejudice as to Plaintiffs and the other members of the Class, except for those members who have previously opted out of the Class. Plaintiffs' Counsel are awarded 33 1/3% of the Settlement Fund as their fee award, which the Court finds to be fair and reasonable from which amount all plaintiffs' attorneys fees and expenses will be paid. which amount shall be paid to plaintiffs' counsel from the Settlement Fund as set forth in this document. Hadassa Y. Buxbaum, one of the Lead Plaintiffs, is reimbursed $4,225.00 for reasonable costs and expenses. The case is closed.
As reported by both co-lead counsels’ websites, the settlement was in the amount of $58 million.
Earlier, according to the same docket, on February 16, 1999, the Court entered the Order appointing lead plaintiffs and approving the selection of lead counsel. On April 12, 1999, the plaintiffs filed a First Amended Complaint. The defendants responded by filing a motions to dismiss the amended complaint. On March 8, 2000, the Court entered the Order signed by Judge John G. Koeltl, denying the motion to dismiss the amended complaint. On May 4, 2001, the plaintiff filed a motion for partial summary judgment. On February 7, 2005, the Court entered the judge’s Opinion and Order denying the plaintiffs’ motion for partial summary judgment.
On January 14, 1999, the Court entered a notice of voluntary dismissal of the action, Winder v. Bankers Trust Corporation, et al., without prejudice and the case was closed.
The original lawsuit alleges violations of the federal securities laws and names as defendants Deutsche Bank AG and its Chairman, and Bankers Trust Corporation and its Chairman. The complaint charges the defendants with violations of Section 10 of the Securities Exchange Act of 1934 and SEC Rule 10b-5 promulgated thereunder, and also charges defendant, the Bankers Trust chairman, with violations of Section 20(a) of the Securities Exchange Act of 1934. Specifically, the complaint charges that the defendants falsely denied that Deutsche Bank and Bankers Trust were engaged in takeover discussions and negotiations during the Class Period in order to artificially depress the price of Bankers Trust common stock so that Deutsche Bank could purchase Bankers Trust at an artificially low price.
The securities class action lawsuit was commenced on behalf of those persons who sold the common stock or call options or purchased put options of Bankers Trust Corporation.