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Case Status:    DISMISSED    
On or around 02/21/2002 (Other)

Filing Date: May 14, 1999

According to the Judgment entered on February 21, 2002, the Fourth Circuit Court of Appeals dismissed the appeal. Earlier, on October 19, 2000, the Court entered the Order by Magistrate Judge H. B. McKnight granting the defendants’ motion to dismiss the amended complaint with leave to file a second amended complaint. The plaintiff filed a second amended complaint but, on November 13, 2001, the Court entered the Order granting the defendants’ motion to dismiss the second amended and consolidated class action complaint. Judgment was further entered in favor of the defendants and against the plaintiff and the case was closed on November 13, 2001. Soon after, the plaintiff filed a Notice of Appeal on December 5, 2001.

The complaint charges Alydaar and certain officers and directors with violations of the securities laws and regulations of the United States. Specifically, the complaint alleges, among other things, that defendants falsely reported Alydaar's financial results and for the first, second, third and fourth quarters of 1998 and 1998 fiscal year ended December 31, 1998, causing Alydaar's common stock to trade at artificially inflated prices. Following defendants' disclosure that Alydaar would be required to restate its financial results, the Company's common stock closed at $3-9/16 per share on April 5, 1999 a drop of over 81% from a high of $19.375 per share.

COMPANY INFORMATION:

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

SECURITIES INFORMATION:

Ticker Symbol: IARC
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: W.D. North Carolina
DOCKET #: 99-CV-00196
JUDGE: Magistrate Judge H. Brent McKnight
DATE FILED: 05/14/1999
CLASS PERIOD START: 11/14/1997
CLASS PERIOD END: 04/01/1999
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Kaplan Fox & Kilsheimer, LLP (former New York, NY)
    805 Third Avenue, 22nd Floor, Kaplan Fox & Kilsheimer, LLP (former New York, NY), NY 10022
    212.687.1980 212.687.7714 · info@kaplanfox.com
  2. Law Offices of Bruce G. Murphy
    265 Llwyds Lane, Law Offices of Bruce G. Murphy, FL 32963
    561.231.4202 ·
No Document Title Filing Date
COURT: W.D. North Carolina
DOCKET #: 99-CV-00196
JUDGE: Magistrate Judge H. Brent McKnight
DATE FILED: 12/18/2000
CLASS PERIOD START: 11/14/1997
CLASS PERIOD END: 04/01/1999
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Berman DeValerio Pease Tabacco Burt & Pucillo (MA)
    One Liberty Square, Berman DeValerio Pease Tabacco Burt & Pucillo (MA), MA 02109
    617.542.8300 ·
  2. 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
  3. Kaplan Fox & Kilsheimer, LLP (former New York, NY)
    805 Third Avenue, 22nd Floor, Kaplan Fox & Kilsheimer, LLP (former New York, NY), NY 10022
    212.687.1980 212.687.7714 · info@kaplanfox.com
  4. Stamell & Schager, LLP
    One Liberty Plaza, 35th Floor, Stamell & Schager, LLP, NY 10006-1004
    212.566.4047 212.566.4061 · stamellschager@ssnyc.com
No Document Title Filing Date