Case Page

 

Case Status:    SETTLED
On or around 02/09/1999 (Date of order of final judgment)

Filing Date: July 24, 1997

According to the firms' 10-K filing dated 3/26/1999, Ancor was a defendant in a consolidated class action captioned In re Ancor
Communications, Inc. Securities Litigation, Case No. 97-CV-1696 (D. Minn.)
alleging violations of the federal securities laws. The lawsuit was settled in
November 1998 and dismissed by the district court on February 5, 1999. Pursuant
to the terms of the settlement, a fund was created in the amount of $1,650,000.
The Company paid $250,000 of the total settlement and the remaining $1,400,000
was paid by the Company's insurer. The $250,000 payment by the Company was
recorded as an expense in the third quarter of 1998.

According to a Press Release dated 7/29/97, the complaint alleges that Ancor and certain of its officers and directors violated the Securities Exchange Act of 1934 by making a series of false and misleading statements regarding, among other things, a "$30 million" contract with Sequent Inc., the acceptance of Ancor's products in the market, revenue and earnings for the second and third quarters of 1996, revenue for the fourth quarter of 1996, and the adequacy of reserves to cover returns of Ancor's products.

COMPANY INFORMATION:

Sector: Technology
Industry: Communications Equipment
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: ANCR
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. Minnesota
DOCKET #: 97-CV-1696
JUDGE: Hon. Ann D. Montgomery
DATE FILED: 07/24/1997
CLASS PERIOD START: 05/15/1996
CLASS PERIOD END: 03/14/1997
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. Chestnut & Cambronne, P.A.
    222 South Ninth Street, 3700 Piper Jaffray Tower, Chestnut & Cambronne, P.A., MN 55402
    612.339.7300 612.336.2940 · info@chestnutcambronne.com
  3. Hellmuth & Johnson, P.A.
    10400 Viking Dr. Suite 560, Hellmuth & Johnson, P.A., MN 55344
    952.941.4005 952.941.2337 ·
  4. Leo W. Desmond
    2161 Palm Beach Lakes Boulevard, Suite 204, Leo W. Desmond, FL 33409
    561.712.8000 561.712.8000 · stocklaw@bellsouth.net
  5. Lockridge, Grindal, Nauen P.L.L.P.
    Suite 301, 660 Pennsylvania Avenue Southeast, Lockridge, Grindal, Nauen P.L.L.P., DC 20003-4335
    202.544.9840 202.544.9850 ·
  6. Rabin & Peckel LLP
    275 Madison Avenue, 34th Floor, Rabin & Peckel LLP, NY 10016
    212.682.1818 212.682.1892 · email@rabinlaw.com
  7. Reinhardt, Wendorf & Blanchfield Attorneys at Law
    E-1000 First National Bank Building, 332 Minnesota Street, Reinhardt, Wendorf & Blanchfield Attorneys at Law, MN 55101
    800.465.1592 651.297.6543 · info@ralawfirm.com
No Document Title Filing Date
COURT: D. Minnesota
DOCKET #: 97-CV-1696
JUDGE: Hon. Ann D. Montgomery
DATE FILED: 12/01/1997
CLASS PERIOD START:
CLASS PERIOD END:
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Barrack, Rodos & Bacine (Main office, Philadelphia)
    Two Commerce Square, 2001 Market Street, Suite 3300 , Barrack, Rodos & Bacine (Main office, Philadelphia), PA 19103
    215.963.0600 215.963.0838 · info@barrack.com
  2. Chestnut & Cambronne, P.A.
    222 South Ninth Street, 3700 Piper Jaffray Tower, Chestnut & Cambronne, P.A., MN 55402
    612.339.7300 612.336.2940 · info@chestnutcambronne.com
  3. Leo W. Desmond
    2161 Palm Beach Lakes Boulevard, Suite 204, Leo W. Desmond, FL 33409
    561.712.8000 561.712.8000 · stocklaw@bellsouth.net
  4. Lockridge, Grindal, Nauen P.L.L.P.
    Suite 301, 660 Pennsylvania Avenue Southeast, Lockridge, Grindal, Nauen P.L.L.P., DC 20003-4335
    202.544.9840 202.544.9850 ·
  5. Rabin & Peckel LLP
    275 Madison Avenue, 34th Floor, Rabin & Peckel LLP, NY 10016
    212.682.1818 212.682.1892 · email@rabinlaw.com
  6. Reinhardt & Anderson
    E 1000 First Bank Bldg - 332 Minnesota Street, Reinhardt & Anderson, MN 55101
    651.227.9990 ·
No Document Title Filing Date