According to the docket posted, on May 8, 1998, the Court entered the Stipulation and Order of Dismissal of the action against the U.S. Securities Defendants without prejudice. The Court further entered that day a second Stipulation and Order of Dismissal with prejudice dismissing the action against Waco Classic and two individual defendants. The case was closed. On May 12, 1998, U.S. District Judge Sidney H. Stein issued an Order denying as moot all outstanding motions in this action.

The complaint asserts claims pursuant to Sections 12(a)(1) and 15 of the Securities Act of 1933 and Section 29(b) of the Securities Exchange Act of 1934 and alleges that Waco common stock and warrants were sold to plaintiff and other members of the Class (i) without having been properly registered with the Securities and Exchange Commission or otherwise exempted from those registration requirements and (ii) without the required penny stock disclosures having been made. The complaint names as defendants Waco, U.S. Securities & Futures Corp. and certain individuals. and seeks to obtain recission or recessionary damages on behalf of the Class.