Case Page

 

Case Status:    SETTLED
On or around 04/19/2000 (Date of order of final judgment)

Filing Date: July 01, 1998

According to the Company’s FORM 10-Q or the quarterly period ended March 31, 2000, on January 27, 2000, the Company agreed to a settlement of the Class Action, pursuant to which the Company has deposited $.3 million in escrow to cover the costs of notice to the class, administration of the settlement and plaintiff attorneys' expenses and will, upon final approval of the settlement, issue 886,437 shares of common stock to class members and class counsel (subject to possible enhancement if the Company's stock price drops below a certain level or if the Company authorizes and issues additional stock). The District Court held a hearing on April 18, 2000 and approved the settlement.

From July 1 through August 17, 1998, eleven putative class actions were filed in the United States District Court for the Southern District of New York, all of which have been consolidated under the caption In re Advanced Health Corporation Securities Litigation (the "Class Action"). The consolidated complaint, filed in February 1999, alleged that the Company and its current or former officers or directors are liable for certain misrepresentations and omissions regarding, among other matters, the Company's operations, performance, and financial condition. The consolidated class action complaint sought, among other remedies, certification as a class action and unspecified damages.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Healthcare Facilities
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: ADVH
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-4647
JUDGE: Hon. Richard C. Casey
DATE FILED: 07/01/1998
CLASS PERIOD START: 05/07/1997
CLASS PERIOD END: 06/30/1998
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
COURT: S.D. New York
DOCKET #: 98-CV-4647
JUDGE: Hon. Richard C. Casey
DATE FILED: 02/09/1999
CLASS PERIOD START: 05/07/1997
CLASS PERIOD END: 08/05/1998
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Abbey Gardy & Squiteri LLP (San Francisco)
    595 Market Street, Suite 2500, Abbey Gardy & Squiteri LLP (San Francisco), CA 94105
    415.538.3725 ·
  2. Beatie & Osborne LLP
    599 Lexington Avenue, 42nd Floor, Beatie & Osborne LLP, NY 10022
    212.888.9000 212.888.9664 ·
  3. Berman, DeValerio & Pease LLP
    One Liberty Square, Berman, DeValerio & Pease LLP, MA 02109
    617.542.8300 ·
  4. Milberg Weiss Bershad Hynes & Lerach LLP (New York, NY)
    One Pennsylvania Plaza, Milberg Weiss Bershad Hynes & Lerach LLP (New York, NY), NY 10119-1065
    212.594.5300 ·
No Document Title Filing Date