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Case Status:    DISMISSED    
On or around 02/02/2001 (Date of order of final judgment)

Filing Date: May 22, 1998

According to the Memorandum Opinion and Order dated January 22, 2001, U.S. District Judge Barbara M G. Lynn granted the defendants' motions to dismiss amended class action complaint. Plaintiff's claims were dismissed with prejudice, with costs taxed against plaintiff. The case was closed.

The original complaint alleges that defendants violated the federal securities laws (Sections 11, 12(a)(2) and 15 of the Securities Exchange Act of 1933) for making material misrepresentations in the Registration Statement and Prospectus that was filed with the SEC and distributed to investors. Nowhere in the Prospectus did the company disclose that its growth projections were dependent on consumers upgrading from Windows 95 to Windows 98 and failed to disclose that a disruption of Microsoft's roll out of its Windows 98 operating system could materially impact its earnings. (NASDAQ: MSFT) In fact, the Company never even mentioned Windows 98 in the Prospectus. This lack of disclosure misled investors into believing that the legal and technical problems surrounding Windows 98 would not have a material impact on the Company's bottom line. Viagrafix' defective Prospectus resulted in the Company and its founders being paid an inflated price for the shares of common stock sold in the March 4, 1998 IPO. As reported by Dow Jones on May 12, 1998, the Company disclosed that "the Windows 98 debacle had affected (its) business." Immediately thereafter, the price of ViaGrafix' stock fell precipitously, plunging over 40% from its $13 offering price to a new low of $7.75 per share. The stock price has since dropped even lower.

COMPANY INFORMATION:

Sector: Technology
Industry: Software & Programming
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: VIAX
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. Texas
DOCKET #: 98-CV-1216
JUDGE: Magistrate Judge Jeff Kaplan
DATE FILED: 05/22/1998
CLASS PERIOD START: 03/04/1998
CLASS PERIOD END: 05/11/1998
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Gerard Singer & Levick, P.C.
    16200 Addison Road, Suite 140 , Gerard Singer & Levick, P.C., TX 75001
    972.380.5748. ·
  2. Wechsler Harwood LLP
    488 Madison Avenue 8th Floor, Wechsler Harwood LLP, NY 10022
    212.935.7400 · info@whhf.com
No Document Title Filing Date
COURT: N.D. Texas
DOCKET #: 98-CV-1216
JUDGE: Magistrate Judge Jeff Kaplan
DATE FILED: 06/28/2000
CLASS PERIOD START: 03/04/1998
CLASS PERIOD END: 05/11/1998
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Gerard Singer & Levick, P.C.
    16200 Addison Road, Suite 140 , Gerard Singer & Levick, P.C., TX 75001
    972.380.5748. ·
  2. Wechsler Harwood LLP
    488 Madison Avenue 8th Floor, Wechsler Harwood LLP, NY 10022
    212.935.7400 · info@whhf.com
  3. Wechsler, Harwood, Halebian & Feffer, LLP
    488 Madison Avenue, Wechsler, Harwood, Halebian & Feffer, LLP, NY
    212.935.7400 10022 ·
No Document Title Filing Date