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Case Status:    SETTLED
On or around 01/15/2004 (Date of order of final judgment)

Filing Date: May 28, 1999

According to the Minute Order entered on January 15, 2004, the Order and Final Judgment were entered and the Plaintiff’s counsel was awarded $1,233,333.00 of the Settlement Fund as attorneys' fees and $583,380.00 in reimbursement of expenses. The case was terminated.

The complaint alleges that defendants violated the federal securities laws (Sections 10(b) and 20(a) of the Securities Exchange Act of 1934) by misrepresenting or failing to disclose material information about Allied's results of operations, financial condition, weaknesses in its financial internal controls, accounting for long-term construction contracts and employee stock option compensation expense. The complaint alleges that defendants issued false and misleading press releases and financial statements for the year ended 1996 and all interim and annual statements for 1997 and 1998.

In particular, plaintiff alleges that defendants (a) failed to disclose that
they were overstating Allied's reported profits by, among other things,
inflating reported earnings through improperly recognizing profits associated
with long-term construction contracts, and (b) failing to disclose that the
Company had long since lost control over estimating construction costs, and
accounting for employee stock option compensation expense. As a result of
defendants' false and misleading statements and material omissions, the price of Allied's stock was artificially inflated during the Class Period, such that persons who purchased or otherwise acquired common stock during the Class Period were damaged by overpaying for the stock.

COMPANY INFORMATION:

Sector: Services
Industry: Business Services
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: ADP
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: N.D. Illinois
DOCKET #: 99-CV-03597
JUDGE: Hon. Harry D. Leinenweber
DATE FILED: 05/28/1999
CLASS PERIOD START: 02/06/1997
CLASS PERIOD END: 03/11/1999
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
  2. Wechsler Harwood LLP
    488 Madison Avenue 8th Floor, Wechsler Harwood LLP, NY 10022
    212.935.7400 · info@whhf.com
No Document Title Filing Date
COURT: N.D. Illinois
DOCKET #: 99-CV-03597
JUDGE: Hon. Harry D. Leinenweber
DATE FILED: 04/27/2000
CLASS PERIOD START: 02/06/1997
CLASS PERIOD END: 03/11/1999
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Wechsler Harwood LLP
    488 Madison Avenue 8th Floor, Wechsler Harwood LLP, NY 10022
    212.935.7400 · info@whhf.com
No Document Title Filing Date