On or around 10/20/1998 (Court's order of dismissal)
Filing Date: July 01, 1998
According to a Press Release dated June 30, 1998, the Complaint asserts claims under the federal securities laws, including claims for violation of Sections 11, 12(a)(2) and 15 of the Securities Exchange Act of 1933. The lawsuit alleges that Aspec and certain of its key officers and directors engaged in a scheme and common plan to defraud by artificially inflating the market price of Aspec common stock during the Class Period by failing to disclose material process technology changes from customers which would materially adversely affect gross profit margin during the second quarter of 1998 and thereafter.
On October 16, 1998, U.S. District Judge Vaughn R. Walker dismissed the action without prejudice and without costs.
Company & Securities Information
Defendant: Aspec Technology, Inc.
Industry: Software & Programming
Headquarters: United States
Ticker Symbol: ASPC
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.
First Identified Complaint
Ronald Kassover, et al. v. Aspec Technology, Inc., et al.