Case Page

 

Case Status:    SETTLED
On or around 02/28/2001 (Settlement hearing date)

Filing Date: December 05, 1997

According to the Notice Of Proposed Settlement Of Class Action dated November 28, 2000, the proposed settlement creates a fund in the amount of $259,000,000 in cash and will include interest that accrues on the fund prior to distribution. Based on Lead Plaintiffs' estimate of the number of shares entitled to participate in the settlement and the anticipated number of claims to be submitted by members of the Class, the average distribution per share would be approximately $3.04 before
deduction of Court-approved fees and expenses. However, individual plaintiff's actual recovery from this fund will depend on a number of variables including the number of Claimants, the number of shares purchased, the expense of administering the claims process, and the timing of purchases and sales, if any. The Lead Plaintiffs believe that the proposed settlement is a good recovery and is in the best interests of the Class.

The original complaint charges 3Com and certain of its officers and directors with violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. Among other things, plaintiffs claim that defendants artificially inflated the price of 3Com's common stock by making a series of false and misleading statements about 3Com's acquisition of U.S. Robotics Corp., 3Com's success in integrating U.S. Robotics operation into 3Com's following the acquisition, the state of 3Com's "channel inventories," and efforts to reduce the amount of channel inventory.

As a result of defendants' misrepresentations and omissions, 3Com's stock
traded as high as $59 11/16 per share during the Class Period, before
plummeting to below $30 per share when the truth was finally revealed.

COMPANY INFORMATION:

Sector: Technology
Industry: Computer Networks
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: COMS
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: N.D. California
DOCKET #: 97-CV-21083
JUDGE: Hon. Martin J Jenkins
DATE FILED: 12/05/1997
CLASS PERIOD START: 05/19/1997
CLASS PERIOD END: 11/06/1997
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. 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
  2. Bernstein Liebhard & Lifshitz, LLP (New York)
    10 E. 40th Street, 22nd Floor, Bernstein Liebhard & Lifshitz, LLP (New York), NY 10016
    800.217.1522 · info@bernlieb.com
  3. Kirby McInerney & Squire LLP
    830 Third Avenue 10th Floor, Kirby McInerney & Squire LLP, NY 10022
    212.317.2300 ·
  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. Schiffrin & Barroway LLP
    3 Bala Plaza E, Schiffrin & Barroway LLP, PA 19004
    610.667.7706 610.667.7056 · info@sbclasslaw.com
  6. Spector Roseman & Kodroff (San Diego)
    1818 Market Street, Suite 2500, Spector Roseman & Kodroff (San Diego), PA 19103
    215.496.0300 215.496.6611 ·
No Document Title Filing Date
COURT: N.D. California
DOCKET #: 97-CV-21083
JUDGE: Hon. Martin J Jenkins
DATE FILED: 03/31/2000
CLASS PERIOD START: 04/23/1997
CLASS PERIOD END: 11/05/1997
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. 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
  2. Bernstein Litowitz Berger & Grossmann LLP (former San Diego)
    12544 High Bluff Drive, Suite 150, Bernstein Litowitz Berger & Grossmann LLP (former San Diego), CA 92130
    858.793.0070 858.793.0323 · blbg@blbglaw.com
  3. Kaplan Fox & Kilsheimer, LLP (San Francisco, CA)
    100 Pine Street, 26th Floor, Kaplan Fox & Kilsheimer, LLP (San Francisco, CA), CA 94111
    415.772.4700 415.677.1233 · info@kaplanfox.com
  4. 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 ·
No Document Title Filing Date
No Document Title Filing Date