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Case Status:    SETTLED
On or around 10/23/2003 (Date of order of final judgment)

Filing Date: June 29, 1999

In a press release dated July 3, 2003, the remaining parties agreed to settle the lawsuit for an aggregate payment of $4,000,000.

According to the docket, on June 25, 2003, a Stipulation and Agreement of Settlement was filed. On October 22, 2003, the Court entered the Order and Final Judgment awarding the following amounts from the Gross Settlement Fund to the representatives for their reasonable costs and expenses (including lost wages): Dorchester Investors $10,000.00, Stanley Benerofe $2,424.50, Steven Stone $4,796.88, Carole Stone on behalf of herself, as a joint tenant with Steven Stone and as representative for Leone Fishelson $4,521.88, Bret Lambert $2,500.00, M.R. Weiser & Co. Retirement Plan & Trust $6,321.00, and Helene Sterman $863.00. Plaintiffs' Counsel were awarded 33% of the Gross Settlement Fund in fees and $133,310.12 in reimbursement of expenses. The case was closed.

In Peak International Limited’s Form 10-K for the fiscal year ended March 31, 2001, on January 27, 2000, the plaintiff filed an amended complaint. On March 20, 2000, all defendants moved to dismiss the amended complaint. While those motions were pending, plaintiff and defendants stipulated to the dismissal with prejudice from the action of the Company and Mr. Mo. Pursuant to the stipulation, the court dismissed the Company and Mr.Mo from the action with prejudice on June 5, 2000. On March 28, 2001, the court ruled on the motion to dismiss. The court dismissed a significant number of the claims. The principal remaining claims relate to the alleged failure of the TrENDS prospectus to disclose that significant short selling of the Company's common stock was certain to occur at the time of the TrENDS offering. Plaintiff filed an amended complaint on April 13, 2001.

Additionally, the Company, Mr. Li and Luckygold entered into certain indemnification agreements with the Trust and DLJ in connection with the TrENDS offering. Certain of these indemnification agreements may require that under certain circumstances the Company, Luckygold and/or Mr. Li indemnify the Trust and/or DLJ from certain liabilities that the Trust and/or DLJ may incur to plaintiff or to the purported plaintiff class. Mr. T.L. Li and Luckygold have, in turn, provided a deed of indemnity to the Company pursuant to which Mr. Li and Luckygold have agreed to indemnify the Company from liabilities related to the TrENDS offering.

The suit charges that the TrENDS prospectus failed to disclose that allegedly significant short selling of the company's common stock was certain to occur at the time of the TrENDS offering. TrENDS stands for Trust Enchanced Dividend Securities Offered by Peak TrENDS Trust, a Delaware subsidiary of the Company.

The purported securities class action suit was commenced on behalf of all TrENDS purchasers against Peak International Limited, the Peak TrENDS Trust, Mr. T.L. Li, Mr. Jerry Mo, Luckygold 18A Limited and Donaldson, Lufkin & Jenrette Securities Corporation (DLJ).

COMPANY INFORMATION:

Sector: Basic Materials
Industry: Fabricated Plastic & Rubber
Headquarters: Hong Kong

SECURITIES INFORMATION:

Ticker Symbol:
Company Market:
Market Status:

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: S.D. New York
DOCKET #: 99-CV-04696
JUDGE: Hon. Lawrence M. McKenna
DATE FILED: 06/29/1999
CLASS PERIOD START: 05/29/1999
CLASS PERIOD END: 06/29/1999
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Milberg Weiss Bershad Hynes & Lerach LLP (New York, NY)
    One Pennsylvania Plaza, Milberg Weiss Bershad Hynes & Lerach LLP (New York, NY), NY 10119-1065
    212.594.5300 ·
No Document Title Filing Date
COURT: S.D. New York
DOCKET #: 99-CV-04696
JUDGE: Hon. Lawrence M. McKenna
DATE FILED: 04/24/2001
CLASS PERIOD START: 05/29/1999
CLASS PERIOD END: 06/29/1999
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Milberg Weiss Bershad Hynes & Lerach LLP (New York, NY)
    One Pennsylvania Plaza, Milberg Weiss Bershad Hynes & Lerach LLP (New York, NY), NY 10119-1065
    212.594.5300 ·
No Document Title Filing Date