Case Page

 

Case Status:    SETTLED
On or around 04/26/2000 (Date of order of final judgment)

Filing Date: August 25, 1998

According to the Company’s FORM 10-Q for the quarterly period ended March 31, 2000, the case was filed on August 25, 1998 in the United States District Court for the District of Massachusetts. Plaintiffs allege that they purchased Common Stock of the Company between April 28, 1997 and August 17, 1998 and seek to represent the class of all persons purchasing during that period. The Complaint, which was amended on March 29, 1999, alleges that the Company and its former Chief Executive Office violated Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 and seeks monetary damages. The Amended Complaint alleges that various public statements by the Company during 1997 and 1998 were false or misleading as a result of alleged accounting irregularities. On June 11, 1999, the Company filed a motion to dismiss the Amended Complaint. Subsequently, the parties reached an agreement-in-principle to settle. The agreement was approved by the court on April 24, 2000. During the third quarter of 1999 the Company took a charge to earnings of $1,250,000 in connection with the agreement-in-principle to settle the lawsuit.

COMPANY INFORMATION:

Sector: Technology
Industry: Computer Storage Devices
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: STZ
Company Market: American 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: D. Massachusetts
DOCKET #: 98-CV-11760
JUDGE: Hon. Edward F. Harrington
DATE FILED: 08/25/1998
CLASS PERIOD START: 04/28/1997
CLASS PERIOD END: 08/17/1998
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Faruqi & Faruqi LLP (New York) (former)
    320 East 39th Street, Faruqi & Faruqi LLP (New York) (former), NY 10016
    212.983.9330 212.983.9331 · Nfaruqi@faruqilaw.com
  2. Gilman & Pastor LLP (Saugus)
    Stonehill Corporate Center 999 Broadway Suite 500, Gilman & Pastor LLP (Saugus), MA 01906
    781.231.7850 781.231.7840 ·
  3. Robert C. Susser
    6 East 43rd Street, Robert C. Susser, NY 10017-4609
    212.808.0298 · classaction@mail.com
No Document Title Filing Date
COURT: D. Massachusetts
DOCKET #: 98-CV-11760
JUDGE: Hon. Edward F. Harrington
DATE FILED: 03/29/1999
CLASS PERIOD START: 04/28/1997
CLASS PERIOD END: 08/17/1998
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. Faruqi & Faruqi LLP (New York) (former)
    320 East 39th Street, Faruqi & Faruqi LLP (New York) (former), NY 10016
    212.983.9330 212.983.9331 · Nfaruqi@faruqilaw.com
  3. Gilman & Pastor LLP (Saugus)
    Stonehill Corporate Center 999 Broadway Suite 500, Gilman & Pastor LLP (Saugus), MA 01906
    781.231.7850 781.231.7840 ·
  4. Robert C. Susser
    6 East 43rd Street, Robert C. Susser, NY 10017-4609
    212.808.0298 · classaction@mail.com
No Document Title Filing Date