Case Page

 

Case Status:    SETTLED
On or around 09/21/2001 (Date of order of final judgment)

Filing Date: February 02, 2000

According to Analytical Surveys, Inc.'s SEC 10-K filing for the fiscal year ended September 30, 2001, on September 21, 2001, the court issued an Order and Final Judgment ratifying the settlement terms of the lawsuit. The settlement, which was agreed to in principle on April 4, 2001, provides for the dismissal of the lawsuit in its entirety against all defendants and the establishment of a settlement fund of $4 million, of which the Company is contributing $100,000 of cash, and approximately 1,256,000 shares of the Company's common stock for the class.

As reported by the Company’s FORM 10-Q for the quarterly period ended March 31, 2001, on May 12, 2000, the Court consolidated the thirteen actions into one complaint. On July 26, 2000, plaintiffs filed a Consolidated Amended Class Action Complaint on behalf of themselves and a putative class consisting of all persons, other than defendants and their affiliates, who purchased the Company's common stock on the open market during the period from January 25, 1999, through and including March 7, 2000. On September 11, 2000, the Company and the named individual defendants filed motions to dismiss the plaintiffs' Consolidated Amended Class Action. On October 24, 2000, the plaintiffs filed a Memorandum in Opposition to Defendants' Motions to Dismiss the Consolidated Amended Class Action Complaint. The Court has not yet ruled on these motions. On April 4, 2001, the Company entered into an agreement in principle to settle this lawsuit against the Company and certain of its directors and former officers. The agreement in principle with the plaintiffs is subject to various conditions, including execution of a Memorandum of Understanding and Stipulation of Settlement, preliminary approval by the Court, notice to the class and final approval by the Court after a hearing.

The original complaint charges Analytical Surveys and certain of its officers and directors with violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. The complaint alleges that defendants issued materially false and misleading financial statements that violated generally accepted accounting principles (GAAP) and other financial reporting standards by materially overstating the Company's revenues, income and earnings. On January 27, 2000, Analytical Survey announced that even after adjusting its fiscal 1999 year end revenue and earnings on December 30, 1999, it might have to make additional adjustments by restating revenue and earnings for fiscal 1999 due to improper cost of completion projections for certain contracts.

COMPANY INFORMATION:

Sector: Services
Industry: Business Services
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: ANLT
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. Indiana
DOCKET #: 00-CV-201
JUDGE: Hon. Larry J. McKinney
DATE FILED: 02/02/2000
CLASS PERIOD START: 01/25/1999
CLASS PERIOD END: 01/27/2000
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Berger & Montague PC
    1622 Locust Street, Berger & Montague PC, PA 19103
    800.424.6690 215.875.4604 · investorprotect@bm.net
  2. Berman DeValerio Pease Tabacco Burt & Pucillo (MA)
    One Liberty Square, Berman DeValerio Pease Tabacco Burt & Pucillo (MA), MA 2109
    617.542.8300 617.230.0903 · info@bermanesq.com
  3. Cohen Milstein Hausfeld & Toll PLLC (Seattle WA)
    701 Fifth Avenue, Suite 6860, Cohen Milstein Hausfeld & Toll PLLC (Seattle WA), WA 98014
    206.521.0080 206.521.0166 · lawinfo@cmht.com
  4. Donovan Miller, L.L.C.
    1608 Walnut Street, Suite 1400, Donovan Miller, L.L.C., PA 19103
    212732.6020 · dmlaw@erols.com
  5. 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
  6. Schiffrin & Barroway LLP
    3 Bala Plaza E, Schiffrin & Barroway LLP, PA 19004
    610.667.7706 610.667.7056 · info@sbclasslaw.com
  7. Spector Roseman & Kodroff (San Diego)
    1818 Market Street, Suite 2500, Spector Roseman & Kodroff (San Diego), PA 19103
    215.496.0300 215.496.6611 ·
  8. 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
  9. Wolf Popper, LLP
    845 Third Avenue, Wolf Popper, LLP, NY 10022-6689
    877.370.7703 212.486.2093 · IRRep@wolfpopper.com
No Document Title Filing Date
COURT: S.D. Indiana
DOCKET #: 00-CV-201
JUDGE: Hon. Larry J. McKinney
DATE FILED: 07/26/2000
CLASS PERIOD START: 01/25/1999
CLASS PERIOD END: 03/07/2000
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bernstein Liebhard & Lifshitz, LLP (New York)
    10 E. 40th Street, 22nd Floor, Bernstein Liebhard & Lifshitz, LLP (New York), NY 10016
    800.217.1522 · info@bernlieb.com
  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. Wolf Popper, LLP
    845 Third Avenue, Wolf Popper, LLP, NY 10022-6689
    877.370.7703 212.486.2093 · IRRep@wolfpopper.com
No Document Title Filing Date