Case Page

 

Case Status:    SETTLED
On or around 09/30/2004 (Date of order of final judgment)

Filing Date: January 15, 1999

According to the docket, on September 30, 2004, the Court entered the Order and Final Judgment approving the proposed settlement. Plaintiffs' counsel was awarded 33 1/3% of the Settlement Fund in fees, and $477,336.51 in reimbursement of expenses. Earlier, the Stipulation and Agreement of Settlement was filed on July 27, 2005. The proposed settlement fund was in the amount of $10,000,000.

In a press release dated July 20, 2004, Theragenics Corporation settled this securities class action lawsuit. The settlement is contingent upon Court approval and notice to the Class. According to the aggreement, that the settlement of the class action lawsuit will require no financial contribution by the company. The derivative lawsuit, which was filed in conjunction with the class action lawsuit, but stayed by agreement of the parties, is still pending. According to the same press release, the company stated that the derivative lawsuit "is currently being reevaluated in light of the settlement of the securities class action lawsuit, and we'll report once we have any further news, as appropriate."

The original complaint charges that defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10-b(5) by, among other things: issuing false misleading statements regarding Theragenics' financial condition as well as its present and future business prospects. Because of the issuance of a series of false and misleading statements, the price of Theragenics common stock was artificially inflated during the Class Period. Prior to the disclosure of the adverse facts described above, certain defendants and insiders made over $5.6 million by selling thousands of shares of Theragenics stock to the unsuspecting investing public at artificially high prices.

On August 21, 2000, according to the Form 10-K for the fiscal year ended December 31, 2003, the plaintiffs filed a second amended complaint and on March 30, 2001, the Court denied the defendant’s motion to dismiss the plaintiffs’ second amended complaint. The Court also denied the Company’s motion for reconsideration. Subsequently, the Court certified the class and the parties commenced discovery. Discovery in the case is now complete. The Company filed a motion for summary judgment on September 30, 2003 in which it asks the Court to find that there is no genuine issue as to any material fact in the case, and therefore, the case must be dismissed. The plaintiffs have filed a brief in opposition, and the motion is currently pending before the Court.

Further, according to the Form 10-K, the actions were consolidated into a single action. On May 14, 1999 a stockholder of the Company filed a derivative complaint in the Delaware Court of Chancery purportedly on behalf of the Company, alleging that certain directors breached their fiduciary duties by engaging in the conduct that is alleged in the consolidated federal class action complaint. The derivative action has been stayed by the agreement of the parties. On July 19, 2000, the Court granted the Company’s motion to dismiss the consolidated federal class action complaint for failure to state a claim against the Company, and granted the plaintiffs leave to amend their complaint. On July 20, 2004, Theragenics Corporation announced that it settled its securities class action lawsuit.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Biotechnology & Drugs
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: TGX
Company Market: New York SE
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-00141
JUDGE: Hon. Thomas W. Thrash
DATE FILED: 01/15/1999
CLASS PERIOD START: 01/29/1998
CLASS PERIOD END: 01/11/1999
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. 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
  2. Finkelstein & Krinsk LLP
    501 West Broadway, Suit 1250, Finkelstein & Krinsk LLP, CA 92101
    877.493.5366 619.238.5425 ·
  3. 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
No Document Title Filing Date
COURT: N.D. Georgia
DOCKET #: 99-CV-00141
JUDGE: Hon. Thomas W. Thrash
DATE FILED: 08/21/2000
CLASS PERIOD START: 01/29/1998
CLASS PERIOD END: 01/11/1999
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Abbey Gardy, LLP (New York)
    212 East 39th Street, Abbey Gardy, LLP (New York), NY 10016
    212.889.3700 · info@abbeygardy.com
  2. Barrack, Rodos & Bacine (Main office, Philadelphia)
    Two Commerce Square, 2001 Market Street, Suite 3300 , Barrack, Rodos & Bacine (Main office, Philadelphia), PA 19103
    215.963.0600 215.963.0838 · info@barrack.com
  3. 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
  4. Finkelstein & Krinsk LLP
    501 West Broadway, Suit 1250, Finkelstein & Krinsk LLP, CA 92101
    877.493.5366 619.238.5425 ·
  5. Hoffman & Edelson
    45 West Court Street, Hoffman & Edelson, PA 18901-4223
    215.230.8043 ·
  6. Milberg Weiss Bershad Hynes & Lerach LLP (New York, NY)
    One Pennsylvania Plaza, Milberg Weiss Bershad Hynes & Lerach LLP (New York, NY), NY 10119-1065
    212.594.5300 ·
  7. Starr & Hollman LLP

    ·
  8. Wechsler Harwood LLP
    488 Madison Avenue 8th Floor, Wechsler Harwood LLP, NY 10022
    212.935.7400 · info@whhf.com
  9. Weinstein, Kitchenoff, Scarlato & Goldman
    1608 Walnut Street, Suite 1400, Weinstein, Kitchenoff, Scarlato & Goldman, PA 19103
    215.545.7200 215.545.6535 · info@wksg.com
  10. Wolf Haldenstein Adler Freeman & Herz LLP (New York)
    270 Madison Avenue, Wolf Haldenstein Adler Freeman & Herz LLP (New York), NY 10016
    212.545.4600 212.686.0114 · newyork@whafh.com
No Document Title Filing Date
No Document Title Filing Date