Case Page

 

Case Status:    SETTLED
On or around 10/24/2001 (Date of order of final judgment)

Filing Date: July 14, 1999

According to the docket, on March 29, 2001, the Court entered the Order by Judge Clarence Cooper dismissing the action without costs and without prejudice. The case was terminated. On April 6, 2001, a joint motion to reopen the case for proceedings was filed. After the Stipulation and agreement of compromise and settlement was filed on July 26, 2001, Judge Clarence Cooper granted the joint motion to reopen the case, and on October 24, 2001, the Court entered the Final Judgment and Bar Order by U.S. District Judge Clarence Cooper certifying the class and approving the settlement. The action was dismissed with prejudice. The Co-Lead Counsel was awarded attorneys' fees in the amount of 30% of the Settlement Amount (or $1,530,000.00) and reimbursement of expenses of $56,620.00 paid from the Settlement Fund.

The original Complaint charges that WorldPort and its two highest officers violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. The Complaint alleges that defendants issued a series of materially false and misleading statements regarding an equity transaction the Company entered with Heico Companies, LLC. In particular, the defendants failed to reveal that the sale of super-voting stock to Heico, and effective transfer of corporate control to Heico, without a vote of shareholders, violated Nasdaq regulations and jeopardized the continued listing of WorldPort shares on Nasdaq.

COMPANY INFORMATION:

Sector: Technology
Industry: Computer Services
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: WRDP
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. Georgia
DOCKET #: 99-CV-01817
JUDGE: Hon. Clarence Cooper
DATE FILED: 07/14/1999
CLASS PERIOD START: 01/04/1999
CLASS PERIOD END: 06/25/1999
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Berger & Montague PC
    1622 Locust Street, Berger & Montague PC, PA 19103
    800.424.6690 215.875.4604 · investorprotect@bm.net
  2. Chitwood & Harley LLP
    1230 Peachtree Street, N.E., 2300 Promenade II, Chitwood & Harley LLP, GA 30309
    888.873.3999 404.873.4476 · info@chitwoodlaw.com
  3. Donovan Searles, LLC
    1845 Walnut Street, Suite 1100, Donovan Searles, LLC , PA 19103
    215-732-6067 215-732-8060 · staff@donovansearles.com
No Document Title Filing Date
COURT: N.D. Georgia
DOCKET #: 99-CV-01817
JUDGE: Hon. Clarence Cooper
DATE FILED: 03/20/2000
CLASS PERIOD START: 01/04/1999
CLASS PERIOD END: 06/28/1999
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Berger & Montague PC
    1622 Locust Street, Berger & Montague PC, PA 19103
    800.424.6690 215.875.4604 · investorprotect@bm.net
  2. Chitwood & Harley LLP
    1230 Peachtree Street, N.E., 2300 Promenade II, Chitwood & Harley LLP, GA 30309
    888.873.3999 404.873.4476 · info@chitwoodlaw.com
  3. Donovan Miller, L.L.C.
    1608 Walnut Street, Suite 1400, Donovan Miller, L.L.C., PA 19103
    212732.6020 · dmlaw@erols.com
No Document Title Filing Date
No Document Title Filing Date