According to the firm's 10-K filing dated 12/22/2000, in September 1999, the U.S. District Court for the Western District of Texas entered an order and judgment dismissing the plaintiff's lawsuit. The plaintiff noticed an appeal of that decision on September 29, 1999. In November 2000, the United States Court of Appeals for the Fifth Circuit dismissed the appeal pursuant to a stipulation of voluntary dismissal.

On March 26, 1999, the two similar actions were consolidated and an Amended Complaint was filed. On April 23, 1999, a Consolidated Complaint was filed, and on May 24, 1999, the defendants responded by filing a motion to dismiss the Consolidated Complaint.

The original complaint alleges that the defendants made false statements regarding Billing Concepts, which caused its stock price to trade at artificially inflated levels.