Case Page

 

Case Status:    SETTLED
On or around 01/09/2002 (Other)

Filing Date: July 24, 1996

According to the docket, on March 27, 2000, the Court entered the Minutes granting the motion for voluntary dismissal of the action. Two days later, the Court entered the Order by U.S. District Judge Saundra B. Armstrong dismissing action with prejudice. Earlier on April 14, 1999, the Court entered a Letter to Judge Armstrong dated April 12, 1999, from the Plaintiff’s counsel advising defendants of the intention to dismiss the federal action and to proceed in state court.

The complaint charges Diamond and certain of its officers and directors with violations of the California Corporations and Civil Codes by making misrepresentations about Diamond's business, products, earnings growth and financial statements and its ability to continue to achieve profitable growth. The complaint alleges that by issuing these allegedly false and misleading statements, defendants artificially inflated Diamond's stock price to a Class Period high of $43 in December 1995, allowing Diamond and Diamond insiders to sell or otherwise distribute 4 million shares of their Diamond stock for proceeds of more than $115 million, before the true facts about Diamond's troubled operations, diminished profitability and overvalued inventory were revealed and Diamond's stock collapsed to as low as $9-1/8 per share.

COMPANY INFORMATION:

Sector: Technology
Industry: Computer Peripherals
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: DIMD
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 #: 96-CV-2644
JUDGE: Hon. Saundra B. Armstrong
DATE FILED: 07/24/1996
CLASS PERIOD START: 11/01/1995
CLASS PERIOD END: 06/20/1996
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. McKenna & Cuneo, LLP
    Steuart Street Tower, One Market, McKenna & Cuneo, LLP, CA 94105-1475
    415.267.4000 415.267.4198 · christian_volz@mckennacuneo.com
  2. Sirota & Sirota LLP
    110 Wall Street 21st Floor, Sirota & Sirota LLP, NY 10005
    888.759.2990 212.425.9093 · Info@SirotaLaw.com
No Document Title Filing Date
COURT: N.D. California
DOCKET #: 96-CV-2644
JUDGE: Hon. Saundra B. Armstrong
DATE FILED: 03/10/1997
CLASS PERIOD START: 11/01/1995
CLASS PERIOD END: 06/20/1996
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. Bernstein Litowitz Berger & Grossmann LLP (Former New York)
    1285 Avenue of the Americas, 33rd Floor, Bernstein Litowitz Berger & Grossmann LLP (Former New York), NY 10019
    212.554.1400 212.554.1444 · blbg@blbglaw.com
  3. LEVI & KORSINSKYY
    212 East 39TH Street, LEVI & KORSINSKYY, NY 10016
    212.889.3700 ·
  4. McKenna & Cuneo, LLP
    Steuart Street Tower, One Market, McKenna & Cuneo, LLP, CA 94105-1475
    415.267.4000 415.267.4198 · christian_volz@mckennacuneo.com
  5. Milberg Weiss Bershad Hynes & Lerach LLP (S.F., CA)
    100 Pine Street - Suite 2600, Milberg Weiss Bershad Hynes & Lerach LLP (S.F., CA), CA 94111
    415.288.4545 415.288.4534 ·
  6. 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
  7. Sirota & Sirota LLP
    110 Wall Street 21st Floor, Sirota & Sirota LLP, NY 10005
    888.759.2990 212.425.9093 · Info@SirotaLaw.com
No Document Title Filing Date
No Document Title Filing Date