Case Page

 

Case Status:    DISMISSED    
On or around 04/01/1999 (Date of order of final judgment)

Filing Date: December 19, 1997

As reported by the Company’s FORM 10-Q for the quarterly period ended March 31, 1999, the Company was a defendant in certain shareholder litigation filed on December 19, 1997 in federal court, Rudd, et al. v. Suburban Lodges of America, et al.; Civil Action No. 1-97-CV-3758-HTW (N.D. Ga.), related to the Company's stock offering on October 14, 1997. Management believed the claims were without merit and entered a motion for dismissal. By order and judgment entered March 31, 1999, the court granted defendants' motion to dismiss and entered judgment in favor of the defendants.

The complaint alleges that Suburban Lodges and certain of its officers and directors violated the Securities Act of 1933 by making false and misleading statements about the company's planned hotel openings in 1997 and the effect these openings would have on the company's fourth-quarter earnings. The complaint alleges that these statements were made in the prospectus for the company's secondary offering of its common stock conducted on October 14, 1997 through December 15, 1997.

COMPANY INFORMATION:

Sector: Services
Industry: Hotels & Motels
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: SLAM
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: N.D. Georgia
DOCKET #: 97-CV-3758
JUDGE: Hon. Horace T. Ward
DATE FILED: 12/19/1997
CLASS PERIOD START: 10/14/1997
CLASS PERIOD END: 12/15/1997
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Chitwood & Harley LLP
    1230 Peachtree Street, N.E., 2300 Promenade II, Chitwood & Harley LLP, GA 30309
    888.873.3999 404.873.4476 · info@chitwoodlaw.com
  2. Schiffrin & Barroway LLP
    3 Bala Plaza E, Schiffrin & Barroway LLP, PA 19004
    610.667.7706 610.667.7056 · info@sbclasslaw.com
No Document Title Filing Date
COURT: N.D. Georgia
DOCKET #: 97-CV-3758
JUDGE: Hon. Horace T. Ward
DATE FILED: 06/02/1998
CLASS PERIOD START: 10/14/1997
CLASS PERIOD END: 12/15/1997
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Chitwood & Harley LLP
    1230 Peachtree Street, N.E., 2300 Promenade II, Chitwood & Harley LLP, GA 30309
    888.873.3999 404.873.4476 · info@chitwoodlaw.com
  2. Schiffrin & Barroway LLP
    3 Bala Plaza E, Schiffrin & Barroway LLP, PA 19004
    610.667.7706 610.667.7056 · info@sbclasslaw.com
No Document Title Filing Date