Case Page

 

Case Status:    SETTLED
On or around 08/15/2001 (Date of order of final judgment)

Filing Date: September 16, 1999

According to Amplidyne’s Form 10-QSB For The Quarterly Period Ended March 31, 2002, the Company and the other parties to the class action reached a settlement on May 2, 2001, which was approved by the District Court for the District of New Jersey on August 14, 2001. Pursuant to the settlement agreement, a settlement fund consisting of $750,000 in cash ($50,000 of which was paid directly by the Company) and 324,486 shares of common stock (which was valued at $500,000 as of May 2, 2001) was established for the benefit of members of the class. In March 2002 the Company issued such shares.

The Complaint alleges that Amplidyne and its highest officer violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. The Complaint alleges that defendants issued materially false and misleading statements by announcing that the Company had introduced new technology that would offer Internet subscribers high speed wireless Internet access at less cost than wired Internet access. Amplidyne's stock prices more than quadrupled in the days following the announcement, until it was revealed that Amplidyne's technology was not new, but had been on the market for at least a year. On this disclosure, the stock price plummeted from its Class Period high of $16-3/4 per share to $7 per share.

COMPANY INFORMATION:

Sector: Technology
Industry: Electronic Instruments & Controls
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: AMPD
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. New Jersey
DOCKET #: 99-CV-04468
JUDGE: Hon. Mary L. Cooper
DATE FILED: 09/16/1999
CLASS PERIOD START: 09/09/1999
CLASS PERIOD END: 09/14/1999
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Barrack, Rodos & Bacine (San Diego - former)
    402 West Broadway , Barrack, Rodos & Bacine (San Diego - former), CA 92101
    619.230.0800 619.230.1874 · info@barrack.com
  2. Milberg Weiss Bershad Hynes & Lerach LLP (San Diego, CA)
    600 West Broadway, 1800 One America Plaza, Milberg Weiss Bershad Hynes & Lerach LLP (San Diego, CA), CA 92101
    800.449.4900 · support@milberg.com
No Document Title Filing Date
COURT: D. New Jersey
DOCKET #: 99-CV-04468
JUDGE: Hon. Mary L. Cooper
DATE FILED: 03/24/2000
CLASS PERIOD START: 09/09/1999
CLASS PERIOD END: 09/14/1999
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Barrack, Rodos & Bacine (former New York)
    170 E. 61st Street, Second Floor, Barrack, Rodos & Bacine (former New York), NY 10021
    212.688.0782 212.688.0783 · info@barrack.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. Epstein, Fitzsimmons, Brown, Ringle, Gioia & Jacobs
    245 Green Village Road - P.O. Box 901, Epstein, Fitzsimmons, Brown, Ringle, Gioia & Jacobs, NJ 07928
    973.593.4900 ·
  4. James V. Bashian
    500 Fifth Ave Ste 2800, James V. Bashian, NY 10110
    ·
  5. Kalikman and Masnik
    30 Washington Avenue, Kalikman and Masnik, NJ 08033
    ·
  6. Kantrowitz, Goldhamer & Graifman
    747 Chestnut Ridge Road, Kantrowitz, Goldhamer & Graifman, NY 10977
    845.356.2570. 845.356.4335 ·
  7. Milberg Weiss Bershad Hynes & Lerach LLP (New York, NY)
    One Pennsylvania Plaza, Milberg Weiss Bershad Hynes & Lerach LLP (New York, NY), NY 10119-1065
    212.594.5300 ·
  8. Stull, Stull & Brody (New York)
    6 East 45th Street, Stull, Stull & Brody (New York), NY 10017
    310.209.2468 310.209.2087 · SSBNY@aol.com
  9. Trujillo, Rodriguez & Richards, LLC (Cherry Hill)
    20 Brace Road, Trujillo, Rodriguez & Richards, LLC (Cherry Hill), NJ
    ·
  10. Weiss & Yourman (New York, NY)
    The French Building, 551 Fifth Ave., Suite 1600, Weiss & Yourman (New York, NY), NY 10126
    212.682.3025 212.682.3010 · info@wyca.com
No Document Title Filing Date
No Document Title Filing Date