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Case Status:    DISMISSED    
On or around 02/12/1999 (Date of order of final judgment)

Filing Date: May 19, 1998

The original complaint alleges defendants committed securities fraud by issuing false and misleading press releases and financial statements which misled investors regarding Paradigm's true financial condition and its ability to withstand a downturn in the SRAM market. Specifically, defendants prematurely and improperly recognized revenues on shipments of approximately $2 million worth of products to NexGen, Inc. in the fourth quarter of 1995.

According to a Form 10-Q for the Quarterly Period ended September 30, 1999, defendants responded to the complaint on July 27, 1998 by filing a motion to dismiss the complaint for failure to state claims upon which relief can be granted and for various pleading inadequacies. In lieu of opposing the motion, plaintiff filed a first amended complaint. Defendants renewed their motion to dismiss, and on January 20, 1999 the Court issued an order granting the motion and dismissing plaintiff's action and entered judgment thereon. On February 3, 1999, the Court entered an amended judgment clarifying that the judgment is with prejudice. On March 12, 1999, plaintiff filed a notice of appeal. Plaintiff then agreed to dismiss the appeal in exchange for defendant's costs incurred in responding to the appeal and agreement not to pursue any action against the plaintiff for having filed the action. The appeal was dismissed with prejudice on October 25, 1999.

COMPANY INFORMATION:

Sector: Technology
Industry: Semiconductors
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: PRDM
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-20528
JUDGE: Hon. Ronald M. Whyte
DATE FILED: 05/19/1998
CLASS PERIOD START: 11/20/1995
CLASS PERIOD END: 03/22/1996
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Weiss & Yourman (Los Angeles, CA)
    10940 Wilshire Blvd - 24th Floor, Weiss & Yourman (Los Angeles, CA), CA 90024
    310.208.2800 310.209.2348 · info@wyca.com
  2. Weiss & Yourman (New York, NY)
    The French Building, 551 Fifth Ave., Suite 1600, Weiss & Yourman (New York, NY), NY 10126
    212.682.3025 212.682.3010 · info@wyca.com
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