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Case Status:    SETTLED
On or around 11/08/2005 (Date of order of final judgment)

Filing Date: December 23, 1997

According to the Court Order dated May 01, 2001, the setting parties will comply with all of the terms of this Order and the Stipulations. The lead Plaintiffs' request for attorneys and expenses is approved. The class counsel shall receive reimbursement of expenses in the amount of $31,489.49 and fees in the amount of $231,000. The class counsel shall not receive any portion of the interest which has accrued on these funds. The class action is dismissed with prejudice.

The original Complaint alleges that ELCOA offered and sold securities, in the form of Fixed Term and Demand Certificates, on the basis of Offering Materials, including Prospectuses, which contained false and misleading statements. As alleged in the Complaint, the Prospectuses misrepresented the financial position and results of operations of ELCOA and misrepresented or omitted material facts concerning ELCOA's use of the proceeds of the offerings and viability. The Complaint further alleges that the financial statements included in the Prospectuses, and other filings with the Securities Exchange Commission, were not prepared in conformity with generally accepted accounting principles, and contrary to the representations contained in the Offering Materials, ELCOA, at the time the Certificates were offered and sold to the investing public, was insolvent.

COMPANY INFORMATION:

Sector: Services
Industry: Rental & Leasing
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol:
Company Market: Privately Traded
Market Status: Privately Held

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 #: 97-CV-7947
JUDGE: Hon. Edmund V. Ludwig
DATE FILED: 12/23/1997
CLASS PERIOD START: 09/14/1995
CLASS PERIOD END: 12/22/1997
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Innelli and Molder
    325 Chestnut Street, Suite 903, Innelli and Molder, PA 19106
    215.627.3394 215.627.3397 · admin@innellilaw.com
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