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Case Status:    SETTLED
On or around 06/02/2003 (Date of order of final judgment)

Filing Date: February 18, 1999

According to the docket dated June 23, 2003, on June 3, 2003, the Court entered the Amended Order by U.S. District Judge Nancy F. Atlas granting plaintiff’s motion for an award of attorney fees, costs, and expenses. The day before, on June 2, the Court entered the Order awarding plaintiff’s counsel fees and expenses in the amount of $47,250.00 and $43,598.00, respectively. Plaintiff's counsel was also awarded 30% of the recovery amount. The Court entered the Judge’s Final Judgment and the case was closed. The Stipulation of Settlement was earlier filed on February 18, 2003, and the settlement was preliminarily approved by Judge Nancy F. Atlas on February 21, 2003.

The Complaint alleges that, during the Class Period, certain of Erly's former officers and directors violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 by, among other things, intentionally and/or recklessly issuing material misrepresentations concerning (i) the financial condition of Erly, (ii) the nature and extent of litigation against Erly, (iii) the effect on Erly and its business of the termination of an agreement with a rice processor in Saudi Arabia and (iv) related party transactions. Some of these claims are also asserted against Deloitte & Touche LLP, Erly's outside auditor. The Complaint further alleges that the price of Erly common stock was artificially inflated throughout the Class Period as a result of these misrepresentations, and that the individual Defendants used inside information to sell significant amounts of their own personal Erly holdings for significant proceeds.

COMPANY INFORMATION:

Sector: Consumer Non-Cyclical
Industry: Crops
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: ERLY
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: S.D. Texas
DOCKET #: 99-CV-00535
JUDGE: Hon. Nancy F. Atlas
DATE FILED: 02/18/1999
CLASS PERIOD START: 11/14/1996
CLASS PERIOD END: 09/28/1998
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Neligan & Averch
    1717 Main Street Suite 4050, Neligan & Averch, TX 75201
    214.653.4330 ·
  2. Schatz & Nobel, P.C.
    330 Main Street, Schatz & Nobel, P.C., CT 06106
    800.797.5499 860.493.6290 · sn06106@AOL.com
  3. Weiss & Yourman (New York, NY)
    The French Building, 551 Fifth Ave., Suite 1600, Weiss & Yourman (New York, NY), NY 10126
    212.682.3025 212.682.3010 · info@wyca.com
No Document Title Filing Date
COURT: S.D. Texas
DOCKET #: 99-CV-00535
JUDGE: Hon. Nancy F. Atlas
DATE FILED: 11/30/1999
CLASS PERIOD START: 11/14/1996
CLASS PERIOD END: 09/28/1998
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Schatz & Nobel, P.C.
    330 Main Street, Schatz & Nobel, P.C., CT 06106
    800.797.5499 860.493.6290 · sn06106@AOL.com
No Document Title Filing Date