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Case Status:    SETTLED
On or around 09/24/2002 (Date of order of final judgment)

Filing Date: July 17, 1998

According to the docket, on September 24, 2002, the Court entered the Order and Final Judgment by U.S. District Judge David Folsom finding that, for the purposes of the Settlement and Judgment, the prerequisites for a class action were satisfied. By the Notice of Pendency of Class Action, the settlement fund established was in the aggregate amount of $49,500,000.

The original complaint charges that defendants Triton and certain of its officers and directors violated the federal securities laws by materially misleading investors through the dissemination of materially false and misleading information concerning, among other things, the prospective value of all or part of Triton in the event of a sale, the interest generated by this proposed sale, and the value and quality of Triton's assets and operations. The defendants publicly announced on March 30, 1998 that Triton was putting its primary assets up for sale to "maximize the value of these assets for our shareholders." The defendants touted that interest in the sale was "intense" and encouraged the investment community to believe that the sale of Triton or its assets would take place at a substantial premium over the current market price of Triton's shares. These false and misleading representations served to drive the price of Triton common shares to highs of over $42. On July 17, 1998, Triton shocked the market when it revealed it had not received an acceptable buyout offer, that its chief executive has resigned, and it would take a shocking $160 million after-tax writedown. Shares in Triton plummeted 32% on July 17, a single day loss of over $361 million in market capitalization.

COMPANY INFORMATION:

Sector: Energy
Industry: Oil & Gas Operations
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: OIL
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: E.D. Texas
DOCKET #: 98-CV-256
JUDGE: Hon. David Folsom
DATE FILED: 07/17/1998
CLASS PERIOD START: 03/30/1998
CLASS PERIOD END: 07/17/1998
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. 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 ·
  2. Nix Patterson & Roach, LLP
    205 Linda Drive, Nix Patterson & Roach, LLP, TX 75638
    903.645.7333 ·
  3. Patton, Haltom, Roberts, McWilliams & Greer LLP
    2900 St. Michael Drive, Century Bank Plaza Suite 400, Box 6128, Patton, Haltom, Roberts, McWilliams & Greer LLP, TX 75505-6128
    903.334.7000 903.334.7000 · thefirm@pattonhaltom.com
No Document Title Filing Date
COURT: E.D. Texas
DOCKET #: 98-CV-256
JUDGE: Hon. David Folsom
DATE FILED: 11/15/1999
CLASS PERIOD START: 03/30/1998
CLASS PERIOD END: 07/17/1998
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. 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 ·
  2. Nix Patterson & Roach, LLP
    205 Linda Drive, Nix Patterson & Roach, LLP, TX 75638
    903.645.7333 ·
  3. Patton, Haltom, Roberts, McWilliams & Greer LLP
    2900 St. Michael Drive, Century Bank Plaza Suite 400, Box 6128, Patton, Haltom, Roberts, McWilliams & Greer LLP, TX 75505-6128
    903.334.7000 903.334.7000 · thefirm@pattonhaltom.com
No Document Title Filing Date