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Case Status:    SETTLED
On or around 04/26/2005 (Date of order of final judgment)

Filing Date: January 21, 2000

By the Order and Final Judgment dated April 26, 2005, U.S. District Judge John Antoon II certifies the class and approves the settlement.

According to a press release dated March 1, 2005, a Preliminary Approval of the securities class action settlement in In re Sunterra Corporation Securities Litigation was announced. The hearing, scheduled on April 26, 2005, is to determine (1) the proposed settlement (the "Settlement") of the above-entitled class action for $4,450,000, in cash plus accrued interest (the "Settlement Amount") should be approved by the Court as fair, reasonable, and adequate; (2) the application of Plaintiffs' Lead Counsel for an award of attorneys' fees and reimbursement of expenses should be approved; and (3) the Action should be dismissed with prejudice.

On June 6, 2002, Sunterra Corp. filed a Suggestion of Bankruptcy, and on July 15, 2000, U.S. District Judge John Antoon II ordered that the consolidated cases are stayed as to defendant Sunterra Corporation, until further order of the Court. Defendant Sunterra shall file a status report within (30) days from the date of this Order and every (90) days thereafter until this matter has been resolved in bankruptcy court.

The original Complaint alleges that Sunterra and certain of its officers and directors violated Sections 10(b) and 20(a) of the Securities Exchange Act of l934 and Rule 10b-5 promulgated thereunder by, among other things, misrepresenting and/or omitting material information from press releases and SEC filings. On January 20, 2000, the company revealed that its fourth quarter results would be between $.01 to $.08 per share, compared with $.31 per share for the prior year, and that the company planned to take a $38 to $45 million charge in order to write-off delinquent receivables improperly left on its books.

COMPANY INFORMATION:

Sector: Services
Industry: Hotels & Motels
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: OWN
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: M.D. Florida
DOCKET #: 00-CV-00079
JUDGE: Magistrate Judge David A. Baker
DATE FILED: 01/21/2000
CLASS PERIOD START: 10/04/1998
CLASS PERIOD END: 01/19/2000
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. 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
  4. 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: M.D. Florida
DOCKET #: 00-CV-00079
JUDGE: Magistrate Judge David A. Baker
DATE FILED: 05/21/2003
CLASS PERIOD START: 10/06/1998
CLASS PERIOD END: 01/19/2000
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. Donovan Searles, LLC
    1845 Walnut Street, Suite 1100, Donovan Searles, LLC , PA 19103
    215-732-6067 215-732-8060 · staff@donovansearles.com
  3. Shalov Stone & Bonner LLP (New York)
    485 Seventh Avenue, Suite 1000, Shalov Stone & Bonner LLP (New York), NY 10018
    212.239.4340 212.239.4310 · lawyer@lawssb.com
  4. Vianale & Vianale LLP (former Boca Raton)
    The Plaza - Suite 801, 5355 Town Center Road., Vianale & Vianale LLP (former Boca Raton), FL 33486
    561.391.4900 561.368.9274 · info@vianalelaw.com
No Document Title Filing Date