According to the docket, on June 17, 2003, the Court entered the Final Judgment of Dismissal with Prejudice. Judge John L. Kane granted the motion for final approval of the class action settlement and the case was dismissed. The Court entered the Order awarding plaintiffs’ co-lead counsel attorney fees in the amount of $3,283,333.00 and expenses in the amount $590,776.24 paid out from the settlement funds. The Court further entered the Order awarding plaintiffs Robert J. Angres and Irena Axelrod-Angres costs and expenses including lost wages, relating to representation of the Class, in the amounts of $6,930.00 and $2,542.50, respectively.
The Complaint charges that, during the Class Period, the Company and certain of its officers and directors (collectively, the "Defendants") violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 by, among other things, knowingly or recklessly making misrepresentations about the Company's Smallworld 3 and PowerOn product lines. The Complaint further alleges that by making these material misrepresentations, the Defendants artificially inflated the price of the Shares during the Class Period.
The class action complaint was filed on behalf of all purchasers of Smallworldwide plc American Depositary Shares.