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Case Status:    DISMISSED    
On or around 12/02/1999 (Court's order of dismissal)

Filing Date: January 28, 1998

The original complaint charges defendants with, among other things, violations of the Exchange Act in connection with a merger agreement entered into between ABI and AIGF. On Dec. 22, 1997, ABI announced that, pursuant to the merger agreement, it had agreed to be purchased by AIGF, an affiliate of AIG for $47 per share. On Jan. 27, 1998, Cendant Corp. ("Cendant") commenced a tender offer for ABI at $58 per share.

On February 9, 1998, the plaintiffs filed an Amended Class Action Complaint. On May 11, 1998, the Court granted the motion to consolidate several cases and granted the motion to appoint co-lead counsel. On May 27, 1998, the plaintiffs filed a Consolidated and Amended Class Action Complaint. On June 15, 1998, a stipulation of dismissal was filed as to defendants American International Group Inc. and AIGF, Inc. On August 24, 1998, the plaintiffs filed a motion for class certification. On August 31, 1999, District Court Judge K. M. Moore denied the motion for class certification. On November 19, 1999, the case was dismissed for administrative purposes.

On December 14, 1999, a Stipulation and Order was signed by Judge Moore. According to the Stipulation and Order, the parties have agreed that in light of the Court’s denial of the plaintiffs’ motion for class certification, the claims asserted herein have become moot and should be dismissed and that ABI's shareholders should have no responsibility for the payment of any fees and expenses incurred by plaintiffs' counsel in connection with this action, and defendants have agreed, subject to the entry of a final, nonappealable order dismissing the complaint herein, to pay a portion of the fees and expenses of plaintiffs' counsel in the sum of $495,000. The action is dismissed, without prejudice and without costs.

COMPANY INFORMATION:

Sector: Technology
Industry: Scientific & Technical Instr.
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: ABI
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: S.D. Florida
DOCKET #: 98-CV-00168
JUDGE: Hon. Federico A. Moreno
DATE FILED: 01/28/1998
CLASS PERIOD START: 12/22/1997
CLASS PERIOD END: 01/27/1998
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Abbey Gardy, LLP (New York)
    212 East 39th Street, Abbey Gardy, LLP (New York), NY 10016
    212.889.3700 · info@abbeygardy.com
  2. Burt & Pucillo LLP
    515 North Flagler Drive, Northbridge Centre, Suite 1701, Burt & Pucillo LLP, FL 33401
    800.349.4612 ·
  3. Goodkind Labaton Rudoff & Sucharow LLP
    100 Park Avenue, Goodkind Labaton Rudoff & Sucharow LLP, NY 10017
    212.907.0700 212.818.0477 · info@glrslaw.com
No Document Title Filing Date
COURT: S.D. Florida
DOCKET #: 98-CV-00168
JUDGE: Hon. Federico A. Moreno
DATE FILED: 05/27/1998
CLASS PERIOD START: 12/22/1997
CLASS PERIOD END: 01/27/1998
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Goodkind Labaton Rudoff & Sucharow LLP
    100 Park Avenue, Goodkind Labaton Rudoff & Sucharow LLP, NY 10017
    212.907.0700 212.818.0477 · info@glrslaw.com
  2. LEVI & KORSINSKYY
    212 East 39TH Street, LEVI & KORSINSKYY, NY 10016
    212.889.3700 ·
No Document Title Filing Date
No Document Title Filing Date