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Case Status:    SETTLED
On or around 06/13/2002 (Date of order of final judgment)

Filing Date: June 22, 1999

According to the docket, on February 11, 2002, the plaintiff filed a Stipulation of Settlement and on April 5, 2002, the Court entered the Order preliminarily approving the settlement and providing for notice. On June 13, 2002, the Court entered the Order awarding plaintiff’s counsel’s fees and reimbursement of expenses in the amount of $271,944.64 and also awarding $2,700.00 and $3,000.00 to lead plaintiffs, Vincent Pino and Herbert Stone. The Plan of Allocation of settlement proceeds was also approved. The Court further entered the Final Judgment and Order of Dismissal with Prejudice by U.S. District Judge Melinda Harmon and the case was closed.

The original complaint charges Landry's and certain of its officers and directors and its underwriters with violations of the federal securities laws. The complaint alleges that beginning in mid-12/97, defendants began making false and misleading statements about the tremendous success of Landry's new Joe's Crab Shack restaurants, the continued success of its Crab House restaurants and the
success of its very rapid expansion program, which would add 48-49 new
restaurants in 98 and 99, stressing its ability to manage its rapid growth, due
to its state-of-the-art, sophisticated financial and operational controls and
its ability to attract and retain experienced managers for its restaurants.
According to the complaint, these favorable factors would result in 98 revenues of about $440 million, 98 and 99 EPS of $1.28-$1.31 and $1.62-$.165, respectively, and 25%-30% EPS growth for Landry's during 98-02, even with flat "same store" sales. These representations and forecasts artificially inflated Landry's stock to a high of $29-7/8 on 3/13/98.

COMPANY INFORMATION:

Sector: Services
Industry: Restaurants
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: LDRY
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. Texas
DOCKET #: 99-CV-01948
JUDGE: Hon. Melinda Harmon
DATE FILED: 06/22/1999
CLASS PERIOD START: 12/19/1997
CLASS PERIOD END: 06/23/1998
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Greenberg, Peden, Siegmyer & Oshman
    12 Greenway Plaza, 10th floor, Greenberg, Peden, Siegmyer & Oshman, TX 77046
    713.627.2720 713.627.7050 ·
  2. 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: S.D. Texas
DOCKET #: 99-CV-01948
JUDGE: Hon. Melinda Harmon
DATE FILED: 07/10/2000
CLASS PERIOD START: 12/19/1997
CLASS PERIOD END: 06/23/1998
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Milberg Weiss Bershad Hynes & Lerach LLP (Los Angeles, CA)
    355 S Grand Ave - Ste 4170, Milberg Weiss Bershad Hynes & Lerach LLP (Los Angeles, CA), CA 90071-3172
    213.617.9007 ·
  2. 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
  3. The Emerson Firm
    2228 Cottondale Avenue, Suite 100, The Emerson Firm, AR 72202
    800.663.9817 501.907.2556 · epllp@emersonpoynter.com
  4. Weiss & Yourman (New York, NY)
    The French Building, 551 Fifth Ave., Suite 1600, Weiss & Yourman (New York, NY), NY 10126
    212.682.3025 212.682.3010 · info@wyca.com
No Document Title Filing Date