Case Page

 

Case Status:    DISMISSED    
On or around 04/26/2000 (Date of order of final judgment)

Filing Date: June 10, 1998

According to the Company’s FORM 10-Q for the quarterly period ended March 31, 2000, on April 27, 2000, the United States District Court for the Southern District of New York dismissed a shareholders class action lawsuit filed in 1998 against the Company and four of its officers. The class action suit had alleged that the defendants artificially inflated the price of the Company's stock through false and misleading public statements. In the dismissal ruling issued by Judge Sidney H. Stein, the court found that plaintiffs had not sufficiently specified the reasons that the statements were misleading and/or failed to specify a reason that would be actionable under Section 10(b) of the Securities Exchange Act of 1934.

The original Complaint charges that throughout the Class Period, the Company and certain of its officers and directors violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 by engaging in a scheme to artificially inflate the market price of Chromatics common stock by making misrepresentations and omissions of material fact concerning the uniqueness, technical capabilities of, and market for the Company's Colormate Tlc-BiliMeter.

COMPANY INFORMATION:

Sector: Technology
Industry: Scientific & Technical Instr.
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: CCSI
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. New York
DOCKET #: 98-CV-4111
JUDGE: Hon. Sidney H. Stein
DATE FILED: 06/10/1998
CLASS PERIOD START: 07/30/1997
CLASS PERIOD END: 06/09/1998
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Law Offices of Steven E. Cauley, P.A. (Little Rock)
    Suite 210, Cypress Plaza. 2200 N. Rodney Parham Road, Law Offices of Steven E. Cauley, P.A. (Little Rock), AR 72212
    501.312.8500 501.312.8505 · cauleypa@aol.com
  2. Wolf Popper, LLP
    845 Third Avenue, Wolf Popper, LLP, NY 10022-6689
    877.370.7703 212.486.2093 · IRRep@wolfpopper.com
No Document Title Filing Date
COURT: S.D. New York
DOCKET #: 98-CV-4111
JUDGE: Hon. Sidney H. Stein
DATE FILED: 01/08/1999
CLASS PERIOD START: 07/30/1997
CLASS PERIOD END: 06/09/1998
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Wolf Popper, LLP
    845 Third Avenue, Wolf Popper, LLP, NY 10022-6689
    877.370.7703 212.486.2093 · IRRep@wolfpopper.com
No Document Title Filing Date