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Case Status:    SETTLED
On or around 10/26/2000 (Date of order of final judgment)

Filing Date: February 19, 1999

According to the latest docket, on May 9, 2002, the Court entered the Stipulation and Order by U.S. District Judge Consuelo B. Marshall authorizing the distribution from the settlement fund, and that the Claims Administrator is authorized to pay itself $524,800.07, in full payment of fees and expenses incurred. Earlier, on October 26, 2000, the Court entered the Order and Final Judgment granting the motion for final approval of the proposed class action settlement and for attorney fees and reimbursement of expenses. The case was dismissed with prejudice and without costs. The Stipulation of Settlement was filed on July 24, 2000 and preliminarily approved on August 2, 2000.

As reported by Total Renal Care Holdings, Inc.’s Form 10-Q For the Quarter Ended September 30, 2000, a total settlement fund of $25 million was established. The Company contributed $10.8 million to the settlement fund while the Company's directors' and officers' liability insurance carriers funded the balance of the settlement fund. In addition, the Company agreed to implement corporate governance principles and procedures to ensure the accountability of its board of directors and management to its shareholders.

The Complaint charges that Total Renal Care and certain of its officers and directors violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 by misrepresenting or failing to disclose material information about TRL's operations and financial condition. Plaintiff specifically alleges that defendants' statements during the Class Period were false and misleading because the Company, in connection with its acquisition of Renal Treatment Centers, Inc., lacked adequate internal controls to accurately track operating costs and uncollectible receivables. As a result, more than ten months after the Company announced that its integration plan was essentially complete and going smoothly, extraordinary charges of $12.3 million were incurred in the fourth quarter of 1998 without warning to investors. On February 18, 1999, Total Renal Care shocked the investment community with the news that fourth quarter 1998 earnings fell far short of expectations and that Total Renal Care is the target of an SEC inquiry. In response to the Company's February 18, 1999, disclosures, the stock price collapsed on extraordinarily heavy trading from $21.75 per share to $8.875 per share.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Healthcare Facilities
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: TRL
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: C.D. California
DOCKET #: 99-CV-1745
JUDGE: Hon. Consuelo B. Marshall
DATE FILED: 02/19/1999
CLASS PERIOD START: 04/01/1998
CLASS PERIOD END: 02/17/1999
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. Faruqi & Faruqi LLP (New York) (former)
    320 East 39th Street, Faruqi & Faruqi LLP (New York) (former), NY 10016
    212.983.9330 212.983.9331 · Nfaruqi@faruqilaw.com
  3. Girard & Green LLP
    160 Sansome Street. Suite 300, Girard & Green LLP, CA 94104
    415.981.4800 415.981.4846 · gg@classcounsel.com
No Document Title Filing Date
COURT: C.D. California
DOCKET #: 99-CV-1745
JUDGE: Hon. Consuelo B. Marshall
DATE FILED: 10/06/1999
CLASS PERIOD START: 04/01/1998
CLASS PERIOD END: 02/17/1999
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. Abbey Gardy, LLP (New York)
    212 East 39th Street, Abbey Gardy, LLP (New York), NY 10016
    212.889.3700 · info@abbeygardy.com
  3. Girard Gibbs & De Bartolomeo LLP
    601 California Street, Suite 1400, Girard Gibbs & De Bartolomeo LLP, CA 94108
    415.981.4800 415.981.4846 · girardgibbs@girardgibbs.com
  4. Grant & Eisenhofer (Wilmington)
    1201 N. Market Street, Suite 2100, Grant & Eisenhofer (Wilmington), DE 19801
    302.622.7000 302.622.7100 · lawyers@gelaw.com
No Document Title Filing Date