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Case Status:    DISMISSED    
On or around 04/11/2002 (Date of order of final judgment)

Filing Date: January 14, 1999

According to the docket dated April 23, 2002, on April 11, 2002, the Court entered an Order dismissing the action without prejudice. Earlier, on March 1, 2000, the Court issued an Order granting in part and denying in part Defendant AgriBioTech Inc.’s motion to dismiss. It was also ordered that all claims against AgriBioTech are stayed pending withdrawal of AgriBioTech's petition for Chapter 11 Bankruptcy relief. All claims asserted against certain Individual Defendants were dismissed. It was further ordered that the parties file a status report advising the Court as to the status of the Bankruptcy proceedings.

The original complaint alleges that the public investors who invested in AgriBioTech based on the Company's reported financial results, its representations about the success of the Company's consolidation strategy and its forecasts of strong revenue and earnings growth in F98-F99, paid as high as $29-1/2 per share for AgriBioTech stock during the Class Period and have suffered millions of dollars in damage as a result of defendants' fraud. During F97 and F98, AgriBioTech reported favorable financial results with strong revenue growth and profitability causing the Company's stock to trade at artificially inflated levels. Ultimately, AgriBioTech was forced by the SEC to change its accounting practices with regard to acquisitions and to disclose the extent of its accounting manipulations in prior quarters. AgriBioTech's reported revenues were, as a result of the manipulations, overstated by 20% in F97 and F98 and the loss it had actually incurred for F97 and F98 was converted into a profit. Upon these startling revelations, AgriBioTech's stock price declined to $8-1/8 per share, a more than 71% reduction from its Class Period high of $29-1/2.

Several purported class actions have also been filed in U.S. District Courts for the District of Nevada and Southern District of New York. The Complaints allege that the defendants violated the federal securities laws (Section 10(b) and 20(a) of the Securities Exchange Act of 1934) by misrepresenting or failing to disclose material information about ABT's strategies concerning its aggressive pursuit of pending and additional acquisitions, and its plans to secure and complete a buyout of all or part of the Company. The complaints further allege that as a result of defendants' false and misleading statements and omissions concerning ABT's strategies, the price of ABT stock was artificially inflated during the Class Period.

COMPANY INFORMATION:

Sector: Consumer Non-Cyclical
Industry: Crops
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: ABTX
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. Nevada
DOCKET #:
JUDGE: Hon. Philip M. Pro
DATE FILED: 01/14/1999
CLASS PERIOD START: 09/24/1997
CLASS PERIOD END: 08/26/1998
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Alfred G. Yates, Jr.
    429 Forbes Avenue, Alfred G. Yates, Jr. , PA 15219
    412.391.5164 ·
  2. Bernstein Liebhard & Lifshitz, LLP (New York)
    10 E. 40th Street, 22nd Floor, Bernstein Liebhard & Lifshitz, LLP (New York), NY 10016
    800.217.1522 · info@bernlieb.com
  3. Milberg Weiss Bershad Hynes & Lerach LLP (San Diego, CA)
    600 West Broadway, 1800 One America Plaza, Milberg Weiss Bershad Hynes & Lerach LLP (San Diego, CA), CA 92101
    800.449.4900 · support@milberg.com
  4. Savett Frutkin Podell & Ryan, P.C.

    800.993.3233 · sfprpc@op.net
  5. Wolf Haldenstein Adler Freeman & Herz LLP (New York)
    270 Madison Avenue, Wolf Haldenstein Adler Freeman & Herz LLP (New York), NY 10016
    212.545.4600 212.686.0114 · newyork@whafh.com
No Document Title Filing Date
COURT: D. Nevada
DOCKET #: 99-CV-144
JUDGE: Hon. Philip M. Pro
DATE FILED: 07/06/1999
CLASS PERIOD START: 09/24/1997
CLASS PERIOD END: 02/16/1999
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bernstein Liebhard & Lifshitz, LLP (New York)
    10 E. 40th Street, 22nd Floor, Bernstein Liebhard & Lifshitz, LLP (New York), NY 10016
    800.217.1522 · info@bernlieb.com
  2. Burt & Pucillo LLP
    515 North Flagler Drive, Northbridge Centre, Suite 1701, Burt & Pucillo LLP, FL 33401
    800.349.4612 ·
  3. Cohen, Milstein, Hausfeld & Toll, P.L.L.C. (Washington, DC)
    1100 New York Avenue, N.W., Suite 500, West Tower, Cohen, Milstein, Hausfeld & Toll, P.L.L.C. (Washington, DC), DC 20005
    202.408.4600 202.408.4699 · lawinfo@cmht.com
  4. Jaroslawicz & Jaros (former NY)
    150 William Street, Jaroslawicz & Jaros (former NY), NY 10038
    212.227.2780 ·
  5. Law Offices of Alfred G. Yates
    519 Alleghany Bldg., 429 Forbes Avenue, Law Offices of Alfred G. Yates, PA 15219
    412.391.5164 ·
  6. Law Offices of Marc S. Henzel (Lawrence)
    335 Central Avenue, Law Offices of Marc S. Henzel (Lawrence), NY 11559
    516.374.0707 516.295.3473 · securitiesfraud@comcast.net
  7. Law Offices of Steven E. Cauley, P.A. (Little Rock)
    Suite 210, Cypress Plaza. 2200 N. Rodney Parham Road, Law Offices of Steven E. Cauley, P.A. (Little Rock), AR 72212
    501.312.8500 501.312.8505 · cauleypa@aol.com
  8. Levin Fishbein Sedran & Berman (former)
    320 Walnut Street, 6th Floor , Levin Fishbein Sedran & Berman (former), PA 19106
    215.592.1500 ·
  9. Lockridge Grindal Nauen & Holstein
    100 Washington Avenue S., Suite 2200, Lockridge Grindal Nauen & Holstein, MN 55401
    612.339.6900 ·
  10. Milberg Weiss Bershad Hynes & Lerach LLP (San Diego, CA)
    600 West Broadway, 1800 One America Plaza, Milberg Weiss Bershad Hynes & Lerach LLP (San Diego, CA), CA 92101
    800.449.4900 · support@milberg.com
  11. Savett Frutkin Podell & Ryan, P.C.

    800.993.3233 · sfprpc@op.net
  12. Schiffrin & Barroway LLP
    3 Bala Plaza E, Schiffrin & Barroway LLP, PA 19004
    610.667.7706 610.667.7056 · info@sbclasslaw.com
  13. Scott & Scott LLC (Connecticut)
    P.O. Box 192, 108 Norwich Avenue, Scott & Scott LLC (Connecticut), CT 06415
    860.537.5537 860.537.4432 · scottlaw@scott-scott.com
  14. 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
  15. Wechsler, Harwood, Halebian & Feffer, LLP
    488 Madison Avenue, Wechsler, Harwood, Halebian & Feffer, LLP, NY
    212.935.7400 10022 ·
  16. Wolf Haldenstein Adler Freeman & Herz LLP (New York)
    270 Madison Avenue, Wolf Haldenstein Adler Freeman & Herz LLP (New York), NY 10016
    212.545.4600 212.686.0114 · newyork@whafh.com
No Document Title Filing Date
No Document Title Filing Date