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Case Status:    DISMISSED    
On or around 12/30/1997 (Date of order of final judgment)

Filing Date: November 06, 1996

According to the last docket posted, on April 11 and July 21, 1997, the defendants filed motions to dismiss the Amended Complaint in its entirety. On December 24, 1997, the Court entered the Opinion and Order #79806 granting the motions to dismiss the complaint. The plaintiff’s claims under the federal securities laws were dismissed with prejudice, and his claims under state common law were dismissed without prejudice. The Court did not grant the plaintiff leave to amend. The Court entered Judgment on December 30, 1997, and the case was closed. On January 28, 1998, the plaintiff filed a notice of appeal, and April 26, 1999, the Court entered the Mandate of the Second Circuit Court of Appeals, affirming the decision of the district court.

The complaint alleges that the defendant securities brokerage firms (and their
respective corporate parents) violated Section 10(b) of the Securities Exchange Act of 1934 ("the 1934 Act"), 15 U.S.C. § 78j(b); Rules 10b-5 and 10b-10 promulgated thereunder, 17 C.F.R. §§ 240.10b-5 and 240.10b-10; Section 20(a) of the 1934 Act, 15 U.S.C. § 78t(a); and New York State common law of conversion, unjust enrichment, and breach of fiduciary duty. Specifically, the plaintiff alleges that he and the members of the putative class purchased U.S.Treasury securities through the defendants and were injured in one or more of the following ways: (a) they were assessed undisclosed charges, commissions, or markups on their purchases; (b) they received trade confirmation forms that incorrectly stated the yield or maturity for the securities, or incorrectly described the defendants' capacity in effectuating the trade; and (c) they were denied prompt access to their trade proceeds by the defendants, who improperly retained the proceeds after maturity and profited from them.

COMPANY INFORMATION:

Sector: Financial
Industry: Consumer Financial Services
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: S.D. New York
DOCKET #: 96-CV-08331
JUDGE: Hon. Denise L. Cote
DATE FILED: 11/06/1996
CLASS PERIOD START: 11/10/1995
CLASS PERIOD END: 05/09/1996
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Kirby McInerney & Squire LLP
    830 Third Avenue 10th Floor, Kirby McInerney & Squire LLP, NY 10022
    212.317.2300 ·
No Document Title Filing Date
COURT: S.D. New York
DOCKET #: 96-CV-08331
JUDGE: Hon. Denise L. Cote
DATE FILED: 02/24/1997
CLASS PERIOD START: 11/10/1995
CLASS PERIOD END: 05/09/1996
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Kaufman Malchman Kirby & Squire, LLP
    919 Third Ave 11th Flr, Kaufman Malchman Kirby & Squire, LLP, NY 10022
    212.371.6600 ·
No Document Title Filing Date