Case Page

 

Case Status:    SETTLED
On or around 03/11/1998 (Date of order of final judgment)

Filing Date: April 25, 1996

According to the Company’s 10-K For The Fiscal Year Ended December 31, 1997, on March 6, 1998 the District Court issued a final order approving a settlement in the class action securities litigation, IN RE COMPUTRON SOFTWARE, INC. SECURITIES LITIGATION, Master File No. 96-1911 (AJL), brought against the Company and certain of its present and former officers and directors in the United States District Court for the District of New Jersey.

In a press release dated October 28, 1997, Computron Software, Inc., announced today, that subject to final documentation and approval of the court, a settlement has been reached with lead counsel representing the certified class in the class action securities litigation pending against the company and certain of its present and former officers and directors in the United States District Court of New Jersey. As its share of the settlement, the company will pay $1 million in cash, and an additional $5 million, which may be paid in the form of newly issued Computron common stock or, at the option of the company, in cash. The overall settlement includes consideration totaling $15 million for the benefit of class members, including the payment from the company, and payments from certain of its present and former officers and directors, its former auditors, and the insurance companies that provided Computron with directors and officers liability insurance. In return for the payments by the insurance companies, the settlement also resolves a separate lawsuit brought by the company against the insurance companies.

The consolidated amended class action complaint alleged the Computron Software had falsely portrayed the financial condition of Computron. The Complaint alleged these false portrayals were made in order to complete the IPO and allow certain of the Individual Defendants to profit by selling millions of dollars of Computron stock.

COMPANY INFORMATION:

Sector: Technology
Industry: Software & Programming
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: CFW
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: D. New Jersey
DOCKET #: 96-CV-1911
JUDGE: Hon. Alfred J. Lechner, Jr.
DATE FILED: 04/25/1996
CLASS PERIOD START: 08/24/1995
CLASS PERIOD END: 02/20/1996
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bernstein Litowitz Berger & Grossmann LLP (Westfield, NJ)
    220 St. Paul Street, Bernstein Litowitz Berger & Grossmann LLP (Westfield, NJ), NJ 07090
    908.928.1700 908.301.9008 · blbg@blbglaw.com
  2. Goodkind Labaton Rudoff & Sucharow LLP
    100 Park Avenue, Goodkind Labaton Rudoff & Sucharow LLP, NY 10017
    212.907.0700 212.818.0477 · info@glrslaw.com
No Document Title Filing Date
COURT: D. New Jersey
DOCKET #: 96-CV-1911
JUDGE: Hon. Alfred J. Lechner, Jr.
DATE FILED: 04/28/1997
CLASS PERIOD START: 08/24/1995
CLASS PERIOD END: 02/20/1996
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bernstein Litowitz Berger & Grossmann LLP (Westfield, NJ)
    220 St. Paul Street, Bernstein Litowitz Berger & Grossmann LLP (Westfield, NJ), NJ 07090
    908.928.1700 908.301.9008 · blbg@blbglaw.com
  2. Cohn, Lifland, Pearlman, Herrmann & Knopf
    Park 80 Plaza West-One, Cohn, Lifland, Pearlman, Herrmann & Knopf, NJ 7663
    201845.9600 · info@njlawfirm.com
  3. Goodkind Labaton Rudoff & Sucharow LLP
    100 Park Avenue, Goodkind Labaton Rudoff & Sucharow LLP, NY 10017
    212.907.0700 212.818.0477 · info@glrslaw.com
  4. Law Offices Of Miles M. Tepper
    200 Executive Drive, Suite 100, Law Offices Of Miles M. Tepper, NJ 07052
    973.243.6700 ·
  5. Lite DePalma Greenberg, LLC (Newark)
    Two Gateway Center - 12th Floor, Lite DePalma Greenberg, LLC (Newark), NJ 07102-5003
    973.623.3000 ·
No Document Title Filing Date