According to the docket dated May 25, 2004, on November 19, 2002, the Court entered the Judgment by U.S. District Judge Samuel Conti favoring the defendants and terminating the case. The plaintiff soon after filed a Notice of Appeal, and on February 3, 2004, the Court entered the copy of the judgment from the Ninth Circuit Court of Appeals, affirming the decision of the District Court.

The original complaint charges Clorox with violations of Section 10(b) of the Securities Exchange Act of 1934, by making misrepresentations about Clorox's business, earnings growth and financial results and its ability to continue to achieve profitable growth. By issuing these allegedly false and misleading statements, Clorox artificially inflated its stock price from $97 at the outset of the Class Period to a Class Period high of $132-5/16. However, on August 12, 1999, Clorox disclosed that its 4thQ F99 revenues had declined and its stock dropped to $83-3/4.