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Case Status:    SETTLED
On or around 09/20/2002 (Date of order of final judgment)

Filing Date: October 09, 1998

According to the Memorandum, Order and Final Judgment entered into the Court on September 20, 2002, the Court finds the Stipulation and the Settlement are fair, reasonable and adequate to the lead plaintiff and the class, and the Stipulation and the Settlement are finally approved in all respects. The action is dismissed with prejudice as to the defendants and released parties and without costs. U.S. District Judge Norma L. Shapiro denied the appeal by Plaintiff Nehme. The case is closed.

According to a Press Release dated October 12, 1998, the Complaint charges EquiMed and certain of its current and former officers with violations of Section 10(b) and 20(a) of the Securities Exchange Act of 1934. According to the Complaint, during the Class Period, defendants disseminated numerous announcements concerning the financial condition of EquiMed which were materially false and misleading. The Complaint alleges that defendants materially overstated revenues and net income throughout the Class Period. A central component of defendants' widespread fraudulent scheme was EquiMed's material deficiencies in its accounting procedures and internal controls.

COMPANY INFORMATION:

Sector: Financial
Industry: Consumer Financial Services
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: EQMD
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: E.D. Pennsylvania
DOCKET #: 98-CV-05374
JUDGE: Hon. Norma L. Shapiro
DATE FILED: 10/09/1998
CLASS PERIOD START: 05/15/1998
CLASS PERIOD END: 06/22/1998
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. Bernard M. Gross
    1500 Walnut Street, Suite 600, Bernard M. Gross, PA 19102
    215.561.3600 215.561.3000 · bmgross@BernardMGross.com
No Document Title Filing Date
COURT: E.D. Pennsylvania
DOCKET #: 98-CV-05374
JUDGE: Hon. Norma L. Shapiro
DATE FILED: 10/20/1998
CLASS PERIOD START: 05/15/1998
CLASS PERIOD END: 06/22/1998
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. Bernard M. Gross
    1500 Walnut Street, Suite 600, Bernard M. Gross, PA 19102
    215.561.3600 215.561.3000 · bmgross@BernardMGross.com
No Document Title Filing Date
No Document Title Filing Date