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Case Status:    SETTLED
On or around 10/11/2001 (Date of order of final judgment)

Filing Date: March 04, 1997

According to the court docket, the court entered its Final Judgment and Order approving the settlement and dismissing the claims on 10/11/2001.

By the Notice of Proposed Settlement dated 7/21/2001, the parties agreed to settle the case for $6,125,000 in cash, pending final court approval.

The original complaint alleges that Olympic, and certain of its officers and directors, violated sections 10(b) and 20(a) of the Securities Exchange Act of 1934, by, among other things, making false and misleading statements and omissions about the company's loan programs, its retail repossession program, and the adequacy of the company's loan loss reserves. In particular, the company is alleged to have failed to disclose material information regarding the fact that its loan portfolio had deteriorated significantly due to the rapid increase in high risk, sub-prime loans in connection with its 'Classic' loan program and its retailing and refinancing of repossessed vehicles, and that the company's loan loss reserves were materially insufficient to protect the company from increases in delinquencies and repossessions resulting from these programs. The PR Newswire account notes that the complaint alleges that during the class period Olympic common stock traded at artificially inflated prices as high as $30 5/8 per share.

COMPANY INFORMATION:

Sector: Financial
Industry: Insurance (Miscellaneous)
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: OLM
Company Market: New York SE
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. Minnesota
DOCKET #: 97-CV-496
JUDGE: Hon. Michael J. Davis
DATE FILED: 03/04/1997
CLASS PERIOD START: 11/28/1994
CLASS PERIOD END: 02/06/1997
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Heins Mills & Olson PLC
    3550 IDS Center, 80 South Eighth Street, Heins Mills & Olson PLC, MN 55402
    612.338.4605 612.338.4692 · info@heinsmills.com
  2. Mager, Liebenberg & White
    Two Penn Center Plaza, 10th Floor, Mager, Liebenberg & White, PA 19102
    215.569.6912 ·
No Document Title Filing Date
COURT: D. Minnesota
DOCKET #: 97-CV-496
JUDGE: Hon. Michael J. Davis
DATE FILED: 08/11/1997
CLASS PERIOD START: 07/20/1995
CLASS PERIOD END: 03/03/1997
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Abbey Gardy & Squiteri LLP (San Francisco)
    595 Market Street, Suite 2500, Abbey Gardy & Squiteri LLP (San Francisco), CA 94105
    415.538.3725 ·
  2. Heins Mills & Olson PLC
    3550 IDS Center, 80 South Eighth Street, Heins Mills & Olson PLC, MN 55402
    612.338.4605 612.338.4692 · info@heinsmills.com
  3. Johnson & Associates

    ·
  4. 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 ·
  5. Moss & Barnett
    90 S 7th Street - Suite 4800, Moss & Barnett, MN 55402
    612.347.0300 612.339.6686 ·
  6. Reinhardt & Anderson
    E 1000 First Bank Bldg - 332 Minnesota Street, Reinhardt & Anderson, MN 55101
    651.227.9990 ·
  7. 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