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Case Status:    DISMISSED    
On or around 10/13/1999 (Other)

Filing Date: April 03, 1998

According to the docket posted, on October 1, 1998, the Court entered the Order by U.S. District Judge Claude M. Hilton granting the defendants’ motion to dismiss the Amended Class Action Complaint. The case was dismissed and closed. A Notice of Appeal was soon after filed by the plaintiffs. On October 13, 1999, the Court entered the certified copy of the judgment from the Fourth Circuit Court of Appeals affirming the decision in the District Court.

Previously, on June 24, 1998, the defendants filed a motion to dismiss the complaint. On July 6, 1998, the Court entered the Order by U.S. District Judge Claude M. Hilton appointing lead plaintiffs and approving co-lead counsel. On July 21, 1998, the Court entered the Order granting the defendants’ motion to dismiss the complaint with leave to amend. On August 4, 1998, the plaintiffs filed an Amended Class Action Complaint, and on August 21, 1998, the defendants responded by filing a motion to dismiss the Amended Class Action Complaint.

The original complaint alleges defendants engaged in a fraudulent scheme, in violation of the federal securities laws, the purpose of which was to artificially depress the price of LCI stock. On February 17, 1998, defendants unequivocally denied that LCI was for sale. To the contrary, defendants stated that, if anything, LCI would consider acquiring other telecommunications companies, but would not be acquired. Based upon this information, plaintiff sold his LCI stock. However, defendants failed to disclose that the Company was, in fact, involved in serious negotiations with Qwest Communications International, Inc. ("Qwest") to be acquired and had been involved in "sincere" negotiations for many months. On March 9, 1998, less than three weeks later, the Company announced that Qwest would acquire LCI in an all-stock transaction.

COMPANY INFORMATION:

Sector: Services
Industry: Communications Services
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: LCI
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. Virginia
DOCKET #: 98-CV-487
JUDGE: Hon. Claude M. Hilton
DATE FILED: 04/03/1998
CLASS PERIOD START: 02/17/1998
CLASS PERIOD END: 03/09/1998
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Cohen Milstein Hausfeld & Toll PLLC (Seattle WA)
    701 Fifth Avenue, Suite 6860, Cohen Milstein Hausfeld & Toll PLLC (Seattle WA), WA 98014
    206.521.0080 206.521.0166 · lawinfo@cmht.com
  2. Kaplan Fox & Kilsheimer, LLP (former New York, NY)
    805 Third Avenue, 22nd Floor, Kaplan Fox & Kilsheimer, LLP (former New York, NY), NY 10022
    212.687.1980 212.687.7714 · info@kaplanfox.com
No Document Title Filing Date
COURT: E.D. Virginia
DOCKET #: 98-CV-487
JUDGE: Hon. Claude M. Hilton
DATE FILED: 08/04/1998
CLASS PERIOD START: 02/17/1998
CLASS PERIOD END: 03/09/1998
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Cohen Milstein Hausfeld & Toll PLLC (Seattle WA)
    701 Fifth Avenue, Suite 6860, Cohen Milstein Hausfeld & Toll PLLC (Seattle WA), WA 98014
    206.521.0080 206.521.0166 · lawinfo@cmht.com
  2. Kaplan Fox & Kilsheimer, LLP (former New York, NY)
    805 Third Avenue, 22nd Floor, Kaplan Fox & Kilsheimer, LLP (former New York, NY), NY 10022
    212.687.1980 212.687.7714 · info@kaplanfox.com
No Document Title Filing Date