According the docket dated November 30, 1999, on December 1, 1999, the Court entered the Order signed by U.S. District Judge Ralph W. Nimmons, Jr., dismissing the complaint without prejudice based upon the Plaintiffs' Notice of Voluntary Dismissal. All pending motions were denied as Moot, and the clerk was directed to close all five files. The case was closed. The Plaintiff’s Notice of Voluntary Dismissal Without Prejudice was filed on October 7, 1999.
The Complaint alleges that purchasers of PSSI common stock during the Class Period were damaged by reason of the defendants' conduct in violation of Sections 10(b) and 20(a) of the Exchange Act. Specifically, the Complaint alleges that the company, under the direction of the individual defendants, issued financial statements that overstated revenues from acquired entities by improperly using the pooling of interest method of accounting. The complaint further alleges that this resulted in overstated earnings throughout the Class Period.