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Case Status:    SETTLED
On or around 11/17/1999 (Date of order of final judgment)

Filing Date: May 27, 1998

According to the Company’s Form 10-Q for the quarterly period ended May 31, 2000, on October 15, 1999, the parties entered into a Stipulation of Settlement and filed it with the Court, which approved the settlement, by order dated October 21, 1999. In issuing that order the Court entered a final judgment dismissing the action and all non-derivative claims of the settlement class against the defendants with prejudice. This litigation was settled at no cost to the Company and ILM II. As part of the settlement, Capital Senior Living Corporation increased its proposed merger consideration payable to the Company and ILM II shareholders and is also responsible for a total of approximately $1.1 million in plaintiffs' attorneys fees and expenses if the proposed merger is consummated. If the proposed merger is not consummated and if the Company and ILM II were to consummate an extraordinary transaction with a third party, then the Company and ILM II would be responsible for the plaintiffs' attorneys fees and expenses.

On June 9, 1999, the Court entered the Order granting in part, Counts III and IV of the second amended complaint are dismissed with prejudice, denying in part all other respects of motion for an order pursuant to FRCP 12(b)(1), 12(b)(6) and 9(b), dismissing the Second Amended and Supplemental Class Action complaint as a whole or in part.

The case was originally filed in the New York State Supreme Court, and on May 27, 1998, a Notice of Removal to the U.S. District Court for the Southern District of New York was filed from the State Supreme Court. The Complaint alleges, among other things, that the funds disseminated false and misleading information about the alternative actions available for maximizing shareholder value and their intent to take action.

COMPANY INFORMATION:

Sector: Services
Industry: Real Estate Operations
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol:
Company Market: Privately Traded
Market Status: Privately Held

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: S.D. New York
DOCKET #: 98-CV-03789
JUDGE: Hon. Lewis A. Kaplan
DATE FILED: 05/27/1998
CLASS PERIOD START:
CLASS PERIOD END:
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Chimicles & Tikellis LLP (Haverford)
    361 West Lancaster Avenue, Chimicles & Tikellis LLP (Haverford), PA 19041
    888.805.7848 610.649.3633 · mail@chimicles.com
  2. Goodkind Labaton Rudoff & Sucharow LLP
    100 Park Avenue, Goodkind Labaton Rudoff & Sucharow LLP, NY 10017
    212.907.0700 212.818.0477 · info@glrslaw.com
No Document Title Filing Date
COURT: S.D. New York
DOCKET #: 98-CV-03789
JUDGE: Hon. Lewis A. Kaplan
DATE FILED: 03/09/1999
CLASS PERIOD START: 12/13/1995
CLASS PERIOD END: 06/17/1998
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Goodkind Labaton Rudoff & Sucharow LLP
    100 Park Avenue, Goodkind Labaton Rudoff & Sucharow LLP, NY 10017
    212.907.0700 212.818.0477 · info@glrslaw.com
  2. Greenberg, Peden, Siegmyer & Oshman
    12 Greenway Plaza, 10th floor, Greenberg, Peden, Siegmyer & Oshman, TX 77046
    713.627.2720 713.627.7050 ·
No Document Title Filing Date