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Case Status:    SETTLED
On or around 06/29/2006 (Date of order of final judgment)

Filing Date: December 29, 1998

On June 29, 2006, the Court entered the Order and Final Judgment approving the settlement of $6 million. That day, the Court further entered the Orders awarding plaintiffs’ counsel’s attorneys’ fees and expenses as well as the plan of allocation. On August 28, 2006, the Court entered the Order amending the amount of the reimbursement of expenses.

As summarized by the latest docket posted, on August 29, 2003, a Corrected Consolidated Amended Class Action Complaint was filed against the defendants, and the defendants responded by filing motions to dismiss the Corrected Consolidated Amended Class Action Complaint. On August 18, 2004, the Court entered the Memorandum and Order signed by U.S. District Judge Thomas N. O’Neill Jr. denying the motion to dismiss as to certain claims and granting the motion to dismiss with prejudice as to the remainder of the claims. On September 29, 2004, the Court entered the Order denying the defendants’ motion for partial reconsideration of the August 18, 2004 Order. On June 30, 2005, the defendants filed a motion for summary judgment, and on October 18, 2005, Judge Thomas N. O’Neill Jr. denied the defendants’ motion for summary judgment. On November 9, 2005, the Court entered the Memorandum and Order granting the plaintiffs' motion for class certification. A settlement hearing is scheduled for June 29, 2006 at 10:00 am before Honorable Thomas N. O’Neill Jr.

According to the closing Order, dated 12/23/2002 from U.S. District Judge Thomas N. O'Neill, Jr. of the United States District Court for the Eastern District of Pennsylvania, in 1998, plaintiffs filed their claim for securities violations against the corporation and others. Various claims were consolidated and then placed in the civil suspense docket in June 1999 pending the outcome of the corporation's bankruptcy proceeding. The action was removed from the suspense docket in December 2001 and the officers were named as defendants in a consolidated complaint filed in February 2002. The court granted the officers' motion to dismiss, finding that the claim against them was barred by the applicable three-year limitations period for securities violations. The court held that the new limitations period enacted as of July 30, 2002, did not apply because the action against the three officers was commenced before the effective date of the statute. The court noted that the last possible violation that could have been committed by the officers occurred on January 14, 1999, and thus plaintiffs needed to file their action against the officers no later than January 14, 2002. The court held that the bankruptcy stay did not toll the limitations period. The court granted the officers' motion to dismiss.

The original complaint alleges that defendants violated the federal securities laws (Sections 10(b) and 20(a) of the Securities Exchange Act of 1934) by misrepresenting or failing to disclose material information about Loewen Group's results of operations, financial condition and weaknesses in its financial internal controls regarding the Company's failure to successfully integrate companies acquired by it during the Class Period. As a result of defendants' false and misleading statements and omissions, the price of Loewen Group's stock was artificially inflated during the Class Period, such that persons who purchased or otherwise acquired common stock during the Class Period were damaged by overpaying for the stock.

COMPANY INFORMATION:

Sector: Services
Industry: Personal Services
Headquarters: Canada

SECURITIES INFORMATION:

Ticker Symbol: LWN
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. Pennsylvania
DOCKET #: 98-CV-06740
JUDGE: Hon. Robert F. Kelly
DATE FILED: 12/29/1998
CLASS PERIOD START: 03/05/1997
CLASS PERIOD END: 10/06/1998
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Barrack, Rodos & Bacine (Main office, Philadelphia)
    Two Commerce Square, 2001 Market Street, Suite 3300 , Barrack, Rodos & Bacine (Main office, Philadelphia), PA 19103
    215.963.0600 215.963.0838 · info@barrack.com
  2. Faruqi & Faruqi LLP (New York) (former)
    320 East 39th Street, Faruqi & Faruqi LLP (New York) (former), NY 10016
    212.983.9330 212.983.9331 · Nfaruqi@faruqilaw.com
  3. Wechsler Harwood LLP
    488 Madison Avenue 8th Floor, Wechsler Harwood LLP, NY 10022
    212.935.7400 · info@whhf.com
  4. Wechsler, Harwood, Halebian & Feffer, LLP
    488 Madison Avenue, Wechsler, Harwood, Halebian & Feffer, LLP, NY
    212.935.7400 10022 ·
  5. Wolf Popper, LLP
    845 Third Avenue, Wolf Popper, LLP, NY 10022-6689
    877.370.7703 212.486.2093 · IRRep@wolfpopper.com
No Document Title Filing Date
COURT: E.D. Pennsylvania
DOCKET #: 98-CV-06740
JUDGE: Hon. Robert F. Kelly
DATE FILED: 08/29/2003
CLASS PERIOD START: 03/05/1997
CLASS PERIOD END: 01/14/1999
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Abbey Gardy & Squiteri LLP (San Francisco)
    595 Market Street, Suite 2500, Abbey Gardy & Squiteri LLP (San Francisco), CA 94105
    415.538.3725 ·
  2. Abbey Gardy, LLP (New York)
    212 East 39th Street, Abbey Gardy, LLP (New York), NY 10016
    212.889.3700 · info@abbeygardy.com
  3. Abbey Spanier Rodd Abrams & Paradis, LLP (New York)
    212 East 39th Street, Abbey Spanier Rodd Abrams & Paradis, LLP (New York), NY 10016
    212-889-3700 212-684-519 · info@abbeyspanier.com
  4. Barrack, Rodos & Bacine (San Diego - former)
    402 West Broadway , Barrack, Rodos & Bacine (San Diego - former), CA 92101
    619.230.0800 619.230.1874 · info@barrack.com
  5. Berger & Montague PC
    1622 Locust Street, Berger & Montague PC, PA 19103
    800.424.6690 215.875.4604 · investorprotect@bm.net
  6. 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
  7. Condon & Forsyth
    685 Third Avenue, Condon & Forsyth, NY 10017
    212.490.9100 212.370.4453 · info@condonlaw.com
  8. Deborah H. Gross
    1515 Locust Street, 2nd Floor, Deborah H. Gross, PA 19102
    215.561.3600 ·
  9. Savett Frutkin Podell & Ryan, P.C.

    800.993.3233 · sfprpc@op.net
  10. Wolf Popper, LLP
    845 Third Avenue, Wolf Popper, LLP, NY 10022-6689
    877.370.7703 212.486.2093 · IRRep@wolfpopper.com
No Document Title Filing Date
No Document Title Filing Date