Case Page

 

Case Status:    DISMISSED    
On or around 04/03/2000 (Date of order of final judgment)

Filing Date: August 25, 1998

According to the Company’s FORM 10-K/A for the fiscal year ended December 31, 1999, on March 31, 2000 the Trial Court dismissed plaintiff's amended class action complaint for failure to state a claim upon which relief can be granted. To date the plaintiff has not appealed the Trial Court's decision.

GAINSCO, INC. ("GNA") was named a defendant in the proceedings styled
William Steiner v. certain individuals and GAINSCO, INC., filed on August 25, 1998 in the United States District Court for the Northern District of Texas, Fort Worth Division (the "Trial Court"). In that case, the plaintiff asserted claims on behalf of a putative class of persons who purchased GNA's common stock between August 6, 1997 and July 16, 1998, inclusive. The plaintiff asserted claims for damages under sections 10(b) and 20(a) of the Securities Exchange Act of 1934, alleging that GNA's financial results did not reflect GNA's true financial position and results of
operations in accordance with generally accepted accounting principles in that
they understated reserves for claims and claim adjustment expenses.

COMPANY INFORMATION:

Sector: Financial
Industry: Insurance (Prop. & Casualty)
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: GNA
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: N.D. Texas
DOCKET #: 98-CV-00727
JUDGE: Hon. Terry R Means
DATE FILED: 08/25/1998
CLASS PERIOD START: 11/05/1997
CLASS PERIOD END: 05/15/1998
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Puls Taylor & Woodson
    512 Main Street - 14th Floor, Puls Taylor & Woodson, TX 76102
    817.338.1717 ·
  2. Wechsler Harwood LLP
    488 Madison Avenue 8th Floor, Wechsler Harwood LLP, NY 10022
    212.935.7400 · info@whhf.com
No Document Title Filing Date
COURT: N.D. Texas
DOCKET #: 98-CV-00727
JUDGE: Hon. Terry R Means
DATE FILED: 02/04/1999
CLASS PERIOD START: 11/05/1997
CLASS PERIOD END: 05/15/1998
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Puls Taylor & Woodson
    512 Main Street - 14th Floor, Puls Taylor & Woodson, TX 76102
    817.338.1717 ·
  2. Wechsler Harwood LLP
    488 Madison Avenue 8th Floor, Wechsler Harwood LLP, NY 10022
    212.935.7400 · info@whhf.com
  3. Wechsler, Harwood, Halebian & Feffer, LLP
    488 Madison Avenue, Wechsler, Harwood, Halebian & Feffer, LLP, NY
    212.935.7400 10022 ·
No Document Title Filing Date