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Case Status:    SETTLED
On or around 09/22/2004 (Date of order of final judgment)

Filing Date: April 27, 1999

According to the docket posted, on September 20, 2004, the Court issued the Order granting the motion to approve the settlements, totaling $20 million, and the plan of allocation. The Court further awarded attorneys’ fees in the amount of $5,000,000, but denied lead plaintiffs', Pugach and Salzman's, motion for expenses. On September 22, 2004, the Court entered the Final Judgment and Order as to The Goldman Sachs Group, LP; Goldman, Sachs & Co.; Morgan Stanley & Co. Inc.; Cowen & Company; and Schroeder & Co., Inc. That day, the Court also entered the Final Judgment and Order as to the two individual defendants.

In a press release dated June 25, 2004, Plaintiffs have achieved a proposed settlement in this case under the federal securities laws with The Goldman Sachs Group, L.P., certain affiliates of which were AMF's largest shareholder at the time of the IPO, and the four investment banking firms that were the managing underwriters for the IPO. The settlement amount is $12,000,000 in cash ("The Investment Bank Defendants' Settlement"). Previously, Plaintiffs achieved a proposed $8,000,000 settlement with the two Individual Defendants. (Together, these two proposed settlements are referred to as the "Settlements.") The hearing on this first settlement, originally scheduled for June 28, 2004, is adjourned until September 9, 2004 (as described below). This case was previously certified as a class action. A hearing will be held before the Honorable P. Kevin Castel in Courtroom 12C at the United States Courthouse, 500 Pearl Street, New York, New York 10007, at 10:00 a.m. September 9, 2004, to determine whether both Settlements should be approved by the Court as fair, reasonable, and adequate; to consider the proposed plan of allocation; and to consider the motion of Plaintiffs' Counsel for attorneys' fees and reimbursement of expenses, including expenses of the Lead Plaintiffs.

As reported by the Company’s FORM 10 for the quarterly period ended June 30, 2001, on April 22, 1999, a putative class action was filed in the United States District Court for the Southern District of New York by Vulcan International Corporation against AMF Bowling, The Goldman Sachs Group, L.P., Goldman, Sachs & Co., Morgan Stanley & Co. Incorporated, Cowen & Company, Schroder & Co., Inc.,and two individual defendants. The complaint has subsequently been amended to, among other things, include additional named plaintiffs. The plaintiffs, as putative class representatives for all persons who purchased Common Stock in the Company's initial public offering of Common Stock (the "Initial Public Offering") or within 25 days of the effective date of the registration statement related to the Initial Public Offering, seek, among other things, damages and/or rescission against all defendants jointly and severally pursuant to Sections 11, 12 and/or 15 of the Securities Act of 1933 based on allegedly inaccurate and misleading disclosures in connection with and following the Initial Public Offering. Management believes that the litigation is without merit and intends to defend it vigorously.

COMPANY INFORMATION:

Sector: Services
Industry: Recreational Activities
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: PIN
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. New York
DOCKET #: 99-CV-03023
JUDGE: Hon. Harold Baer, Jr.
DATE FILED: 04/27/1999
CLASS PERIOD START: 11/04/1997
CLASS PERIOD END: 04/27/1999
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Berger & Montague PC
    1622 Locust Street, Berger & Montague PC, PA 19103
    800.424.6690 215.875.4604 · investorprotect@bm.net
  2. Donald B. Lewis
    Donald B. Lewis 5 Cynwyd Road, Donald B. Lewis, PA 19004
    610.668.0330 ·
  3. Olsen Law Firm
    2121 K Street, N.W. Suite 800, Olsen Law Firm, DC 20037
    703.351.5199 ·
No Document Title Filing Date
COURT: S.D. New York
DOCKET #: 99-CV-03023
JUDGE: Hon. Harold Baer, Jr.
DATE FILED: 05/08/2003
CLASS PERIOD START: 11/04/1997
CLASS PERIOD END: 04/27/1999
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Berger & Montague PC
    1622 Locust Street, Berger & Montague PC, PA 19103
    800.424.6690 215.875.4604 · investorprotect@bm.net
  2. Law Offices of Bernard M. Gross (Philadelphia) (former)
    1515 Locust Street, 2nd Floor, Law Offices of Bernard M. Gross (Philadelphia) (former), PA 19102
    215-561-3600 215-561-3000 · bmgross@bernardmgross.com
No Document Title Filing Date