Case Page

 

Case Status:    DISMISSED    
On or around 03/29/2001 (Date of order of final judgment)

Filing Date: July 08, 1998

According to the Company’s FORM 10-Q For the Quarterly Period Ended: March 31, 2001, an amended complaint, consolidating these lawsuits into one action, was filed in the second quarter of 1999, seeking unspecified damages. In the third quarter of 1999, the Company filed a motion to dismiss the consolidated action. On March 29, 2001, the U.S. District Court for the District of Massachusetts granted the Company’s motion to dismiss and entered an order dismissing the consolidated action with prejudice. The applicable appeal period has expired and the plaintiffs have not appealed, which should conclude the litigation.

The original complaint alleges that throughout the Class Period, Parametric Technology publicly represented that Parametric would meet analysts' revenue and earnings expectations for the fiscal third quarter. On July 1, 1998, however, Parametric revealed that the company would fall $40 million short of this forecast. Prior to this disclosure, certain officers and directors of the company sold common stock, at an inflated price, to the unsuspecting investing public. The sale of this common stock allowed the officers and directors of Parametric to pocket over $6.8 million in proceeds. The plaintiffs charge Parametric Technology with violating the federal securities laws by misleading investors with false information about the company's business, operations, sales trends, and products and seek to recover damages.

COMPANY INFORMATION:

Sector: Technology
Industry: Software & Programming
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: PMTC
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: D. Massachusetts
DOCKET #: 98-CV-11328
JUDGE: Hon. George A. O'Toole, Jr.
DATE FILED: 07/08/1998
CLASS PERIOD START: 06/26/1998
CLASS PERIOD END: 07/01/1998
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Berman DeValerio Pease Tabacco Burt & Pucillo (MA)
    One Liberty Square, Berman DeValerio Pease Tabacco Burt & Pucillo (MA), MA 2109
    617.542.8300 617.230.0903 · info@bermanesq.com
  2. Wohl & Entwistle LLP
    330 Madison Avenue, Wohl & Entwistle LLP, NY 10017
    212.867.1030 ·
No Document Title Filing Date
COURT: D. Massachusetts
DOCKET #: 98-CV-11328
JUDGE: Hon. George A. O'Toole, Jr.
DATE FILED: 03/26/1999
CLASS PERIOD START: 06/26/1998
CLASS PERIOD END: 07/01/1998
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Berman DeValerio Pease Tabacco Burt & Pucillo (MA)
    One Liberty Square, Berman DeValerio Pease Tabacco Burt & Pucillo (MA), MA 2109
    617.542.8300 617.230.0903 · info@bermanesq.com
  2. Bernstein Liebhard & Lifshitz, LLP (New York)
    10 E. 40th Street, 22nd Floor, Bernstein Liebhard & Lifshitz, LLP (New York), NY 10016
    800.217.1522 · info@bernlieb.com
  3. Moulton & Gans LLP
    133 Federal Street, Moulton & Gans LLP, MA 2110
    617.369.7979 ·
  4. Shapiro Haber & Urmy LLP (Boston)
    75 State Street, Shapiro Haber & Urmy LLP (Boston), MA 02109
    617.439.3939 617.439.0134 · info@shulaw.com
No Document Title Filing Date