Case Page

 

Case Status:    DISMISSED    
On or around 12/08/1999 (Other)

Filing Date: October 24, 1997

According to the docket posted, on December 22, 1997, the defendants filed a motion to dismiss the amended complaint. On July 31, 1998, the Court entered the Order signed by U.S. District Judge Frank W. Bullock Jr. granting the defendants’ joint motion to dismiss the amended complaint. The action was dismissed with prejudice and closed. On August 31, 1998, the plaintiff filed a notice of appeal, and on November 12, 1999, the U.S. Court of Appeals for the Fourth Circuit issued the opinion affirming the decision of the District Court. On December 8, 1999, the Court entered the Judgment of the U.S. Court of Appeals.

On October 30, 1997, the plaintiff filed an amended complaint. Specifically, the amended complaint is founded upon the single allegation that the Defendants misled Coastal investors by failing to disclose the extent of Coastal's problems with the computer billing system that it used prior to installing a new system in 1996. Specifically, the amended complaint alleges three counts. Count I alleges the Defendants committed securities fraud in violation of§ 10(b) of the Securities
Exchange Act of 1934, 15 U.S.C. § 78j(b), and Rule 10b-5, 17 C.F.R. § 240.10b-5. Count II alleges that individual defendants are liable as control persons under
§ 20(a) of the Securities Exchange Act of 1934, 15 U.S.C. § 78t(a). Count III alleges the same three men are liable for negligent misrepresentation under North Carolina's common law.

The original complaint charges Coastal Physician Group, Inc., and three of its current and former officers with violations of 10(b) and 20(s) of the Securities Exchange Act of 1934 and Rule 10b-5 and negligent misrepresentations concerning the Company's operations and prospects.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Healthcare Facilities
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: DR
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: M.D. North Carolina
DOCKET #: 97-CV-01126
JUDGE: Hon. Frank W. Bullock Jr.
DATE FILED: 10/24/1997
CLASS PERIOD START: 08/14/1995
CLASS PERIOD END: 08/29/1997
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Stull, Stull & Brody (New York)
    6 East 45th Street, Stull, Stull & Brody (New York), NY 10017
    310.209.2468 310.209.2087 · SSBNY@aol.com
No Document Title Filing Date
COURT: M.D. North Carolina
DOCKET #: 97-CV-01126
JUDGE: Hon. Frank W. Bullock Jr.
DATE FILED: 10/30/1997
CLASS PERIOD START: 08/14/1995
CLASS PERIOD END: 08/29/1997
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Law Firm of Harvey Greenfield (New York)
    60 East 42nd Street, Suite 2001, Law Firm of Harvey Greenfield (New York), NY 10165
    212.949.5500 212.949.0049 · hgreenf@banet.net
  2. Poyner & Spruill, L.L.P.
    POB 10096, Poyner & Spruill, L.L.P., NC 27605-0096
    919-783-6400 ·
  3. Stull, Stull & Brody (New York)
    6 East 45th Street, Stull, Stull & Brody (New York), NY 10017
    310.209.2468 310.209.2087 · SSBNY@aol.com
  4. The Sanford Holshouser Law Firm
    POB 2447, The Sanford Holshouser Law Firm, NC 27602
    919-755-1800 ·
No Document Title Filing Date
No Document Title Filing Date
No Document Title Filing Date