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Case Status:    SETTLED
On or around 03/21/2002 (Date of order of final judgment)

Filing Date: September 02, 1999

According to the docket, on January 22, 2002, a Stipulation for settlement was filed and on January 24, U.S. District Judge Edward W. Nottingham preliminarily approved the proposed class action settlement. On March 21, 2002, the Court entered the Orders granting the motion for final approval of the class action settlement and the plan of allocation and granting the motion for award of attorneys’ fees and reimbursement of expenses. Representative plaintiffs' counsel was awarded attorneys' fees of 30% of settlement fund and reimbursement. Representative plaintiffs were awarded $3,000 each. The Court further entered the Final Judgment and Order of Dismissal with Prejudice and the case was dismissed.

The complaint charges J.D. Edwards and certain of its officers and directors with violations of the Securities Exchange Act of 1934. The complaint alleges that via a series of false and misleading statements regarding the continued strong demand for J.D. Edwards' core WorldSoftware product for the IBM AS/400 operating system, the successful introduction and technological superiority of its most important new product, OneWorld, for the UNIX/Windows NT operating systems, and the successful reorganization of its direct sales force, which it forecast would lead to very strong software license revenue growth, increased profit margins and EPS of $.72-.$90 in F99, defendants artificially inflated J.D. Edwards stock from $24-7/8 in mid 1/98 to a Class Period high of $49-3/8 in 9/98. As J.D. Edwards stock soared to record levels, the nine top insiders at J.D. Edwards sold 3,992,183 shares of their J.D. Edwards stock at prices as high as $49 for $151.5 million in proceeds.

But in December 1998, when J.D. Edwards revealed that its growth of software license revenue had fallen sharply, that the share of its license revenue represented by OneWorld sales had also fallen sharply, indicating a lack of success with this vital new product, and that it was suffering from sales force productivity problems, its stock collapsed from $37 on 12/3/98 to $24 on 12/4/98, a 35% drop.

COMPANY INFORMATION:

Sector: Technology
Industry: Software & Programming
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: JDEC
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: D. Colorado
DOCKET #: 99-CV-01744
JUDGE: Hon. Edward W. Nottingham
DATE FILED: 09/02/1999
CLASS PERIOD START: 01/22/1998
CLASS PERIOD END: 12/03/1998
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Alfred G. Yates, Jr.
    429 Forbes Avenue, Alfred G. Yates, Jr. , PA 15219
    412.391.5164 ·
  2. Dyer, Donnelly & Lilly
    825 Logan Street, Dyer, Donnelly & Lilly 80203-3114
    303.861.3003 ·
  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: D. Colorado
DOCKET #: 99-CV-01744
JUDGE: Hon. Edward W. Nottingham
DATE FILED: 03/21/2000
CLASS PERIOD START: 01/22/1998
CLASS PERIOD END: 12/03/1998
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Cauley Geller Bowman & Coates, LLP (Little Rock, AR)
    11311 Arcade Drive, Suite 200, Cauley Geller Bowman & Coates, LLP (Little Rock, AR), AR 72212
    ·
  2. Dyer, Donnelly & Lilly
    825 Logan Street, Dyer, Donnelly & Lilly 80203-3114
    303.861.3003 ·
  3. Milberg Weiss Bershad Hynes & Lerach LLP (S.F., CA)
    100 Pine Street - Suite 2600, Milberg Weiss Bershad Hynes & Lerach LLP (S.F., CA), CA 94111
    415.288.4545 415.288.4534 ·
  4. 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
  5. Shepherd & Geller LLC
    117 Gayley Street, Suite 200, Shepherd & Geller LLC, PA 19063
    ·
No Document Title Filing Date