Case Page

 

Case Status:    SETTLED
On or around 03/31/2000 (Date of order of final judgment)

Filing Date: April 17, 1998

On March 30, 2000, U.S. District Judge Charles L. Brieant issued a Final Judgment and Order dismissing the case, adopting all defined terms as set forth in the Stipulation of Settlement. The Class Counsel are awarded attorneys’ fees in the amount of 27.5% of the common fund, $467,500.00, such fees to be paid out of the Settlement Fund. According to Norland Medical Systems’ Form 10-K For the fiscal year ended December 31, 1999, the settlement fund totaled $1.7 million, funded solely by the Company's directors and officer's insurance carrier. The case is closed.

On July 22, 1998, the Court entered the Order signed by Judge Charles L. Brieant appointing the Johnsons and Fife as Lead Plaintiffs. The law firm of Goodkind
Labaton Rudoff & Sucharow LLP was appointed Lead Counsel. On August 12, 1998, an Amended Complaint was filed, and on December 21, 1998, the defendants filed an amended notice of motion do dismiss the Amended Complaint. On April 7, 1999, the Court entered the Memorandum and Order denying the defendants’ motion to dismiss. On January 4, 2000, a Stipulation of Settlement was filed, and, that day, the Court entered the Order preliminarily approving the settlement.

The original complaint alleges that Norland Medical Systems, the company's Chairman & President, and Vice President of Finance violated Section 10(b) of the Securities Exchange Act by disseminating false and misleading press releases, public filings and/or statements regarding the company's financial results for 1996 and for the first, second and third quarters of 1997.

COMPANY INFORMATION:

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

SECURITIES INFORMATION:

Ticker Symbol: NRLD
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. New York
DOCKET #: 98-CV-2762
JUDGE: Hon. Charles L. Brieant
DATE FILED: 04/17/1998
CLASS PERIOD START: 02/25/1997
CLASS PERIOD END: 03/16/1998
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Goodkind Labaton Rudoff & Sucharow LLP
    100 Park Avenue, Goodkind Labaton Rudoff & Sucharow LLP, NY 10017
    212.907.0700 212.818.0477 · info@glrslaw.com
No Document Title Filing Date
COURT: S.D. New York
DOCKET #: 98-CV-2762
JUDGE: Hon. Charles L. Brieant
DATE FILED: 08/12/1998
CLASS PERIOD START: 02/25/1997
CLASS PERIOD END: 03/16/1998
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Goodkind Labaton Rudoff & Sucharow LLP
    100 Park Avenue, Goodkind Labaton Rudoff & Sucharow LLP, NY 10017
    212.907.0700 212.818.0477 · info@glrslaw.com
No Document Title Filing Date