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Case Status:    SETTLED
On or around 03/01/2000 (Date of order of final judgment)

Filing Date: May 01, 1998

According to the Final Judgment and Order dated May 6, 2002, U.S. District Judge Alicemarie H. Stotler dismissed the case. The court approved the settlement set for in the Stipulation. The plaintiffs’ counsel are awarded attorneys’ fees of 25% of the settlement fund and reimbursement of litigation expenses in the amount of $260,206.05 together with the interest earned.

In a Press Release dated June 12, 1998, the Complaint alleges that Premier and two of its officers and directors violated the federal securities laws by issuing false and misleading statements and omitting material facts regarding Premier's financial results and operations during the Class Period.
The Complaint alleges that, among other things, defendants materially misstated Premier's financial results for the fiscal year ended March 31, 1997 and for the fiscal quarter ended December 31, 1998. On April 15, 1998, defendants were forced to reveal that Henry Schein Inc., a well known medical products distributor, had refused to accept millions of dollars of Premier's new dental laser products and that Premier would restate its third quarter 1998 financials, reducing revenues by over 34%. Thereafter, on May 26, 1998, defendants further revealed that Premier's auditors, Ernst & Young LLP, had resigned and withdrawn its report on the Company's financial statements for the fiscal year ended March 31, 1997. The Complaint further alleges that, as a result of defendants' violations, the market price of Premier stock during the Class Period closed as high as $14 per share, and fell to just 4-1/8 at the close of trading on May 26, 1998, the first trading day after the close of the Class Period.

NOTE: On March 10, 2000, Premier Laser Systems, Inc. filed a voluntary petition under Chapter 11 of the Bankruptcy Code.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Medical Equipment & Supplies
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: PLSIA
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 #: 98-CV-00388
JUDGE: Hon. Alicemarie H. Stotler
DATE FILED: 05/01/1998
CLASS PERIOD START: 02/12/1998
CLASS PERIOD END: 04/15/1998
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
No Document Title Filing Date
COURT: C.D. California
DOCKET #: 98-CV-00388
JUDGE: Hon. Alicemarie H. Stotler
DATE FILED: 10/27/1998
CLASS PERIOD START: 05/07/1997
CLASS PERIOD END: 04/15/1998
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
No Document Title Filing Date
No Document Title Filing Date