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.