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Case Status:    DISMISSED    
On or around 04/28/1999 (Other)

Filing Date: May 08, 1998

According to the Memorandum Opinion and Order dated April 27, 1999, U.S. District Judge John Corbett O'Meara granted the defendants’ motion to dismiss the case. The case was closed.

On December 8, 1998, the case was inter-district transferred to the U.S. District Court for the Eastern District of Michigan, Southern Division.

The original complaint alleges that Nematron, certain of its officers and directors, its underwriter for a 6/5/96 secondary offering, and its independent auditors violated federal securities laws. The complaint further alleges that the defendants issued false and misleading financial statements and press releases regarding Nematron's revenues, net income and earnings; due to these statements, the market price of Nematron common stock was artificially inflated. The complaint also alleges that this allowed defendant to effectuate the 6/5/96 secondary offering and to acquire 2 other companies with newly issued Nematron stock. Further, the complaint alleges that this allowed corporate insiders to sell over 945,000 shares of stock, reaping proceeds in excess of $5 million.

COMPANY INFORMATION:

Sector: Technology
Industry: Computer Hardware
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: NEMA
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: E.D. Michigan
DOCKET #: 98-CV-3309
JUDGE: Hon. Robert W. Sweet
DATE FILED: 05/08/1998
CLASS PERIOD START: 01/31/1996
CLASS PERIOD END: 04/28/1998
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Schoengold & Sporn PC (New York)
    233 Broadway 39Th Floor, Schoengold & Sporn PC (New York), NY 10279
    212.964.0046 ·
No Document Title Filing Date
COURT: E.D. Michigan
DOCKET #: 98-CV-75407
JUDGE: Hon. Robert W. Sweet
DATE FILED: 10/16/1998
CLASS PERIOD START: 01/31/1996
CLASS PERIOD END: 04/28/1998
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Schoengold & Sporn PC (New York)
    233 Broadway 39Th Floor, Schoengold & Sporn PC (New York), NY 10279
    212.964.0046 ·
No Document Title Filing Date