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Case Status:    SETTLED
On or around 03/19/1999 (Date of order of final judgment)

Filing Date: October 08, 1997

By the Final Judgment and Order of Dismissal by U.S. District Judge Gary L. Taylor entered on March 19, 1999, the case is terminated.

According to the firm's 10-K filing dated April 13, 2000, in April 1998, the Company entered into a settlement in principle, which was
memorialized in a Memorandum of Understanding (the M.O.U.), with counsel for the
plaintiffs to settle the suits. The Federal Court approved this settlement
agreement on March 15, 1999. Terms of the settlement included cash consideration
of $740,000 and 210,000 shares of the Company's common stock, of which the
Company will issue 80,000 shares and the Company's founder, Osamah S. Bakhit,
contributed 130,000 shares. The Company recorded a legal settlement expense for
the year ended December 31, 1997 of $620,000, of which $480,000 was attributable
to the expected issuance of 80,000 shares of common stock and $140,000 of which
represented the Company's portion of the cash consideration. The 80,000 shares
were issued to the plaintiffs in 1999.

The complaint alleges that the company, certain of its officers and directors, and Cruttenden Roth, the lead underwriter of the company's IPO, violated the Securities Act of 1933 by issuing a false and misleading registration statement and prospectus. The complaint also alleges that Aviation and the officer and director defendants violated the Securities Exchange Act of 1934 by issuing false and misleading statements regarding the company's revenues and earnings. In particular, the company is alleged to have violated generally accepted accounting principles and its own internal revenue recognition requirements. The complaint alleges that the company's accountants then resigned and the stock was delisted.

COMPANY INFORMATION:

Sector: Capital Goods
Industry: Aerospace & Defense
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: ADIN
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: C.D. California
DOCKET #: 97-CV-795
JUDGE: Arthur Nakazato
DATE FILED: 10/08/1997
CLASS PERIOD START: 03/04/1997
CLASS PERIOD END: 09/02/1997
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Law Offices of Jerome S. Cohen
    301 East Ocean Blvd, Suite 540, Law Offices of Jerome S. Cohen, CA 90802-4828
    562.983.1160 ·
  2. Morris and Morris LLC (Former Address)
    1105 North Market Street, Suite 1600, Morris and Morris LLC (Former Address), DE 19801
    800.296.0410 · firm@morrisandmorrislaw.com
  3. Stull, Stull & Brody (Los Angeles)
    10940 Wilshire Boulevard - Suite 2300, Stull, Stull & Brody (Los Angeles), CA 90024
    310.209.2468 ·
  4. 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
No Document Title Filing Date
COURT: C.D. California
DOCKET #: 97-CV-795
JUDGE: Arthur Nakazato
DATE FILED: 02/01/1998
CLASS PERIOD START:
CLASS PERIOD END:
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. 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
  2. Morris and Morris LLC (Former Address)
    1105 North Market Street, Suite 1600, Morris and Morris LLC (Former Address), DE 19801
    800.296.0410 · firm@morrisandmorrislaw.com
  3. Stull, Stull & Brody (Los Angeles)
    10940 Wilshire Boulevard - Suite 2300, Stull, Stull & Brody (Los Angeles), CA 90024
    310.209.2468 ·
No Document Title Filing Date