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Case Status:    DISMISSED    
On or around 01/15/1999 (Other)

Filing Date: November 25, 1998

According to the docket posted, on January 7, 1999, the plaintiff filed a notice of voluntary dismissal with prejudice. On January 15, 1999, the Court entered the Order signed by U.S. District Judge Alan S. Gold approving the notice of voluntary dismissal. The case was closed and all pending motions in the action were denied as moot.

The Complaint alleges that defendants violated Sections 10(b)(5), and Rule 10b-5 promulgated thereunder, and 20(a) of the Securities Exchange Act of 1934 (the "Act"). The action, pending in the United States District Court for the Southern District of Florida, West Palm Beach Division, seeks to recover damages suffered by plaintiff and purchasers of AmeriPath common stock during the Class Period. Defendants, the Complaint alleges, failed to disclose that material portions of its income were derived through improper preparation and filing of materially inaccurate and inflated cost reports for reimbursement by Medicare. Defendants' deceptive scheme, artificially inflated the market price of AmeriPath common stock during the Class Period and caused plaintiff and other putative Class members to purchase AmeriPath common stock at inflated prices. When defendants belatedly disclosed previously omitted and misrepresented facts on November 24, 1998, the Company's common stock, which closed on November 23, 1998, at $9.09, fell to $4.875 per share -- a decline of nearly 45% on extremely heavy volume of 5.98 million shares --
approximately 59 times daily average volume.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Healthcare Facilities
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: PATH
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: S.D. Florida
DOCKET #: 98-CV-8852
JUDGE: Hon. Alan S. Gold
DATE FILED: 11/25/1998
CLASS PERIOD START: 10/22/1997
CLASS PERIOD END: 11/23/1998
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. Milberg Weiss Bershad Hynes & Lerach LLP (Boca Raton)
    The Plaza, Suite 900, 5355 Town Center Road, Milberg Weiss Bershad Hynes & Lerach LLP (Boca Raton), FL 33486
    561.361.5000 ·
  3. Wolf Haldenstein Adler Freeman & Herz LLP (New York)
    270 Madison Avenue, Wolf Haldenstein Adler Freeman & Herz LLP (New York), NY 10016
    212.545.4600 212.686.0114 · newyork@whafh.com
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