Case Page

 

Case Status:    SETTLED
On or around 01/02/2002 (Date of order of final judgment)

Filing Date: July 07, 1999

According to the docket dated October 31, 2003, on January 2, 2002, the Court entered the Order and Final Judgment by U.S. District Judge Walker D. Miller certifying the action as a class action and approving the settlement as fair and reasonable. The action was settled for $5,500,000. On July 15, 2003, the Court also entered the Order awarding plaintiffs’ counsel attorney fees of $1,650,000.00 and expenses in the amount of $284,134.02. On October 31, 2003, Judge Walker D. Miller further granted the distribution of the class settlement fund. The case is closed.

The original Complaint charges NEON, and certain of its officers and directors, with violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, as well as SEC Rule 10b-5 promulgated thereunder. Specifically, the Complaint alleges that, during the Class Period, NEON issued materially false and misleading statements concerning the status of the Company's business, and concealed the facts that NEON was having difficulties digesting its several acquisitions from the previous year and experiencing negative revenue and earnings trends. While issuing these materially false and misleading statements, several top officers and directors of the Company sold thousands of shares of NEON common stock to the public, reaping over $5 million in proceeds. Following the disclosure of the true status of the Company's business, the price of NEON common stock plummeted by approximately 56% from its closing price of $44.0625 per share on July 6, to close at $19.4375 per share on July 7.

COMPANY INFORMATION:

Sector: Technology
Industry: Software & Programming
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: NEON
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: D. Colorado
DOCKET #: 99-CV-1274
JUDGE: Hon. Walker D. Miller
DATE FILED: 07/07/1999
CLASS PERIOD START: 04/21/1999
CLASS PERIOD END: 07/06/1999
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Dyer & Shuman, LLP
    801 East 17th Avenue, Dyer & Shuman, LLP, CO 80218-1417
    303.861.3003 800.711.6483 · info@dyershuman.com
  2. Dyer, Donnelly & Lilly
    825 Logan Street, Dyer, Donnelly & Lilly 80203-3114
    303.861.3003 ·
  3. Law Offices of Charles J. Piven, P.A.
    World Trade Center-Baltimore,401 East Pratt Suite 2525, Law Offices of Charles J. Piven, P.A., MD 21202
    410.332.0030 · pivenlaw@erols.com
  4. Milberg Weiss Bershad Hynes & Lerach LLP (San Diego, CA)
    600 West Broadway, 1800 One America Plaza, Milberg Weiss Bershad Hynes & Lerach LLP (San Diego, CA), CA 92101
    800.449.4900 · support@milberg.com
  5. 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
  6. 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: D. Colorado
DOCKET #: 99-CV-1274
JUDGE: Hon. Walker D. Miller
DATE FILED: 04/19/2000
CLASS PERIOD START: 10/29/1998
CLASS PERIOD END: 07/06/1999
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Dyer & Shuman, LLP
    801 East 17th Avenue, Dyer & Shuman, LLP, CO 80218-1417
    303.861.3003 800.711.6483 · info@dyershuman.com
  2. 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
No Document Title Filing Date