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Case Status:    SETTLED
On or around 10/03/2000 (Date of order of final judgment)

Filing Date: January 22, 1998

According to the Order and Final Judgement, dated September 29, 2000, by U.S. District Judge Charles A. Legge, the settlement is approved and the case is dismissed with prejudice. The plaintiffs’ counsel is awarded attorneys' fees of 30% of the settlement fund and reimbursement of litigation expenses in the amount of $619,740.09 together with the interest earned.

The Complaint alleges violations of the federal securities laws against Sybase Inc. ("Sybase") and certain of its officers and directors. The Complaint asserts that defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 by issuing false and misleading financial statements and press releases concerning Sybase's income and earnings to the investing public. On Jan. 21, 1998, after the market had closed, Sybase issued a press release announcing that it would be reporting a fourth quarter loss and restating its financial statements for the first three quarters of 1997 and that the amounts in question were estimated to have a financial impact of $60 to $65 million. Sybase's auditors had uncovered financial irregularities at Sybase's Japanese subsidiary, including a cash account and sales to customers subject to rights of return and extended payment terms. The Complaint alleges that defendants issued false and misleading financial statements and press releases concerning Sybase's revenues, income and earnings per share which served to inflate the price of the stock. The financial statements of Sybase made during the Class Period were materially false and misleading because they materially overstated its Japanese subsidiary's revenues. It also alleges that defendants knew or recklessly disregarded that their accounting practices were not in accordance with generally accepted accounting principles.

COMPANY INFORMATION:

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

SECURITIES INFORMATION:

Ticker Symbol: SYBS
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: N.D. California
DOCKET #: 98-CV-252
JUDGE: Hon. Charles A. Legge
DATE FILED: 01/22/1998
CLASS PERIOD START: 04/18/1997
CLASS PERIOD END: 01/21/1998
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Kirby McInerney & Squire LLP
    830 Third Avenue 10th Floor, Kirby McInerney & Squire LLP, NY 10022
    212.317.2300 ·
  2. 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
  3. Shalov Stone & Bonner LLP
    276 Fifth Avenue, Suite 704, Shalov Stone & Bonner LLP, NY 10001
    212.686.8004 212.686.8005 · lawyer@lawssb.com
No Document Title Filing Date
COURT: N.D. California
DOCKET #: 98-CV-252
JUDGE: Hon. Charles A. Legge
DATE FILED: 06/12/1998
CLASS PERIOD START: 04/17/1997
CLASS PERIOD END: 01/21/1998
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Barrack, Rodos & Bacine (San Diego - former)
    402 West Broadway , Barrack, Rodos & Bacine (San Diego - former), CA 92101
    619.230.0800 619.230.1874 · info@barrack.com
  2. Berger & Montague PC
    1622 Locust Street, Berger & Montague PC, PA 19103
    800.424.6690 215.875.4604 · investorprotect@bm.net
  3. Berman DeValerio Pease Tabacco Burt & Pucillo (CA)
    425 California Street, Suite 2025, Berman DeValerio Pease Tabacco Burt & Pucillo (CA), CA 94104
    415.433.3200 415.433.6382 ·
  4. Bernstein Litowitz Berger & Grossmann LLP (New York, NY)
    1285 Avenue of the Americas, 33rd Floor, Bernstein Litowitz Berger & Grossmann LLP (New York, NY), NY 10019
    212.554.1400 212.554.1444 · blbg@blbglaw.com
  5. Kaufman Malchman Kirby & Squire, LLP
    919 Third Ave 11th Flr, Kaufman Malchman Kirby & Squire, LLP, NY 10022
    212.371.6600 ·
  6. Milberg Weiss Bershad Hynes & Lerach LLP (Los Angeles, CA)
    355 S Grand Ave - Ste 4170, Milberg Weiss Bershad Hynes & Lerach LLP (Los Angeles, CA), CA 90071-3172
    213.617.9007 ·
  7. 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
No Document Title Filing Date
No Document Title Filing Date