On or around 06/14/2000 (Date of order of final judgment)
Filing Date: April 21, 1998
On June 13, 2000, U.S. District Judge J. S. Letts approved the settlement and the plan of allocation. The plaintiffs’ counsel was awarded attorney fees and reimbursement expenses in the amount of 25% of the settlement fund plus litigation expenses incurred in an aggregate amount of $309,859.33 with interest earned. The case is closed.
The complaint charges COHR with misleading investors with materially false information which overstated COHR's earnings in the Company's financial statements and misrepresented the Company's operations. Specifically, the Complaint alleges that the company was in violation of the Generally Accepted Accounting Procedures by recognizing revenue funds that were illegally diverted from the rebate accounts of its hospital clients. The Complaint further alleges that COHR was prematurely recognizing revenue for certain equipment and software sales which resulted in profits that were improperly inflated during the Class Period.
Company & Securities Information
Defendant: Cohr, Inc.
Industry: Business Services
Headquarters: United States
Ticker Symbol: CHRI
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.