Case Page

 

Case Status:    DISMISSED    
On or around 12/12/2001 (Other)

Filing Date: November 09, 1998

According to the docket posted, On September 20, 2001, the Court entered the Final Order granting the defendants’ motion to dismiss the second consolidated amended class action complaint, and the case was closed. The plaintiffs soon after filed a Notice of Appeal, but, on December 12, 2001, the Court entered the certified copy of the Order of dismissal from the U.S. Court of Appeals. The appeal was dismissed pursuant to the order granting the appellants' motion for voluntary dismissal.

Previously, on July 6, 2000, the Court entered the Order signed by U.S. District Judge William P. Dimitrouleas granting in part and denying in part the motion to alter and/or amend judgment, and the case was reopened. On August 9, 2000, the plaintiffs filed a Second Consolidated Amended Class Action Complaint, and the defendants responded by filing a motion to dismiss the second consolidated amended class action complaint.

According to the Form 10-Q filing for the quarterly period ended February 29, 2000, the Company and the named officers and directors filed a Motion to Dismiss all claims and on March 29, 2000, the court granted the Company's Motion to Dismiss the consolidated class action complaint against the Company and certain of its officers and directors. By entering its final order of dismissal, which the plaintiffs can appeal, the court ruled that the plaintiffs had failed to state a claim. On April 12, 2000, the plaintiffs filed a Motion to Alter and/or Amend the Judgment.

The original Complaint alleges that defendants, including Rexall violated Sections 10(b)(5), and Rule 10b-5 promulgated thereunder, and 20(a) of the Securities Exchange Act of 1934 (the "Act"). Defendants, the Complaint alleges, issued a series of material, false and misleading statements about Rexall, its products and the strength of its business. During the Class Period, while in possession of material, adverse, non-public information, defendants sold a combined 840,171 of their personal, Rexall stock holdings for proceeds of over $30.2 million. When Rexall announced its problems on November 5, 1998, the price of its common stock plummeted $8.875 per share to close at $13.125 down
from $22 the day before and from a Class Period high of $38.375.

COMPANY INFORMATION:

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

SECURITIES INFORMATION:

Ticker Symbol: RXSD
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: S.D. Florida
DOCKET #: 98-CV-08798
JUDGE: Hon. William P. Dimitrouleas
DATE FILED: 11/09/1998
CLASS PERIOD START: 03/19/1998
CLASS PERIOD END: 11/05/1998
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. 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
  2. Pomerantz LLP (New York)
    600 Third Avenue, Pomerantz LLP (New York), NY 10016
    212.661.1100 212.661.8665 · info@pomerantzlaw.com/
No Document Title Filing Date
COURT: S.D. Florida
DOCKET #: 98-CV-08798
JUDGE: Hon. William P. Dimitrouleas
DATE FILED: 08/09/2000
CLASS PERIOD START: 03/19/1998
CLASS PERIOD END: 11/05/1998
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Cohen, Milstein, Hausfeld & Toll, P.L.L.C. (Washington, DC)
    1100 New York Avenue, N.W., Suite 500, West Tower, Cohen, Milstein, Hausfeld & Toll, P.L.L.C. (Washington, DC), DC 20005
    202.408.4600 202.408.4699 · lawinfo@cmht.com
  2. Kenny, Nachwalter, Seymour, Arnold, Critchlow & Spector
    1100 Miami Center 201 South Biscayne Boulevard, Kenny, Nachwalter, Seymour, Arnold, Critchlow & Spector, FL 33131
    305.373.1000 305.372.1861 · adamnash@nash-net.com
  3. Milberg Weiss Bershad Hynes & Lerach LLP (Boca Raton)
    The Plaza, Suite 900, 5355 Town Center Road, Milberg Weiss Bershad Hynes & Lerach LLP (Boca Raton), FL 33486
    561.361.5000 ·
No Document Title Filing Date
No Document Title Filing Date