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Case Status:    SETTLED
On or around 12/01/2003 (Date of order of final judgment)

Filing Date: November 19, 1997

According to the docket dated June 30, 2005, on November 26, 2003, the court entered its Order and Final Judgment in that plaintiffs' counsel are awarded 30% of the Gross Settlement Fund in attorneys' fees and $1,109,890.30 in reimbursement of expenses effectively terminating the case.

By the Notice of Proposed Settlement of Class Action, a Settlement Fund consisting of $10.2 million in cash, plus accruing interest, has been established. A hearing will be held before the Honorable Adalberto Jordan in the United States Courthouse, 301 N. Miami Avenue, Miami, FL 33128, at 10:00 a.m., on November 17, 2003 (the “Settlement Fairness Hearing”) to determine whether a proposed Settlement (the “Settlement”) of the above-captioned actions as set forth in the Stipulation and Agreement of Settlement dated August 25, 2003 (the “Stipulation”), is fair, reasonable and adequate and to consider the proposed Plan of Allocation for the Settlement proceeds and the application of Plaintiffs’ Counsel for attorneys’ fees and reimbursement of expenses.

As summarized in the same Notice, the initial complaints in this action were filed on November 19, 1997. On June 1, 1998, Plaintiffs filed a Consolidated and Amended Class Action Complaint (the “Complaint”). The Class alleges that Defendants violated Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder and that the Individual Defendants violated Section 20(a) of the Securities Exchange Act of 1934 by knowingly or recklessly making materially false and misleading statements regarding PCA’s business operations, deficits and liabilities. The Complaint also alleges that the price of PCA’s common stock was artificially inflated throughout the Class Period as a result of these false and misleading statements. On August 7, 1998, Defendants moved to dismiss this Complaint. Defendants’ motion to dismiss the Complaint was denied on February 17, 1999. After the conclusion of discovery, Defendants filed a motion for summary judgment, which was denied by the Court on July 24, 2002.

The original complaint alleges that Physician Corporation of America and certain of its present or former directors and officers violated federal securities laws and the common law by misrepresenting and/or omitting material information concerning the company's financial condition.

COMPANY INFORMATION:

Sector: Services
Industry: Business Services
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: PCAM
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: S.D. Florida
DOCKET #: 97-CV-3678
JUDGE: Hon. Donald M. Middlebrooks
DATE FILED: 11/19/1997
CLASS PERIOD START: 05/06/1996
CLASS PERIOD END: 03/31/1997
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. 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
  2. Wampler, Buchanan & Breen, P.A.
    777 Brickell Ave., Suite 900 , Wampler, Buchanan & Breen, P.A., FL 33131
    305.577.0044 ·
  3. Weiss & Yourman (New York, NY)
    The French Building, 551 Fifth Ave., Suite 1600, Weiss & Yourman (New York, NY), NY 10126
    212.682.3025 212.682.3010 · info@wyca.com
No Document Title Filing Date
COURT: S.D. Florida
DOCKET #: 97-CV-3678
JUDGE: Hon. Donald M. Middlebrooks
DATE FILED: 06/01/1998
CLASS PERIOD START: 03/31/1996
CLASS PERIOD END: 03/31/1997
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Cohen, Milstein, Hausfeld & Toll, P.L.L.C. (Washington, DC)
    1100 New York Avenue, N.W., Suite 500, West Tower, Cohen, Milstein, Hausfeld & Toll, P.L.L.C. (Washington, DC), DC 20005
    202.408.4600 202.408.4699 · lawinfo@cmht.com
  2. Robert Cecil Gilbert
    133 Sevilla Ave., Robert Cecil Gilbert, FL 33134-6006
    305529.9100 ·
  3. Savett Frutkin Podell & Ryan, P.C.

    800.993.3233 · sfprpc@op.net
  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
  5. Weiss & Yourman (New York, NY)
    The French Building, 551 Fifth Ave., Suite 1600, Weiss & Yourman (New York, NY), NY 10126
    212.682.3025 212.682.3010 · info@wyca.com
No Document Title Filing Date