Case Page

 

Case Status:    DISMISSED    
On or around 03/19/2002 (Date of order of final judgment)

Filing Date: March 01, 2000

According to the Company’s FORM 10-QSB for the quarterly period ended March 31, 2002, on May 18, 2001, a motion to dismiss was filed on behalf of the Company and all other defendants, and March 18, 2002, the United States District Court for the District of New Jersey dismissed, with prejudice, the consolidated class action complaint. No appeal was taken and the time to appeal has expired.

Previously, according to the same SEC filing, in March and April 2000, twelve purported class actions entitled Ames v.Cybershop, Ezeir v. Cybershop, Fuechtman v. Cybershop, Kaufman v. Cybershop, Goldenberg v. Cybershop, Marino v. Cybershop, Waldarman v. Cybershop, Page v. Cybershop, Young v. Cybershop, Johnson v. Cybershop, Hitzing v. Cybershop, and Gerber v. Cybershop were filed in the United States District Court for the District of New Jersey against GSV and certain of its current and former officers and directors. On April 25, 2001, lead counsel for the plaintiffs was designated and an amended complaint was filed.

The lawsuit charges CyberShop and certain of its officers with violations of sections 10(b) and 20(a) of the Securities Exchange Act of 1934. Specifically, the action charges that CyberShop and certain of its officers improperly reported its financial condition in its public filings with the Securities and Exchange Commission and in its press releases during fiscal year 1999. These statements inflated the price of CyberShop's common stock and allowed its top officer to sell a substantial amount of his holdings at artificially-inflated prices. In February 2000, CyberShop belatedly disclosed that it would be closing its previously touted electronic-retailing business and that operations in the third quarter of 1999 had actually declined, in contrast to previous reports.

COMPANY INFORMATION:

Sector: Financial
Industry: Misc. Financial Services
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: GSVIC
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: D. New Jersey
DOCKET #: 00-CV-00976
JUDGE: Hon. Joel A. Pisano
DATE FILED: 03/01/2000
CLASS PERIOD START: 10/26/1999
CLASS PERIOD END: 02/24/2000
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Berman, DeValerio & Pease LLP
    One Liberty Square, Berman, DeValerio & Pease LLP, MA 02109
    617.542.8300 ·
  2. 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
  3. Law Offices of Charles J. Piven, P.A.
    World Trade Center-Baltimore,401 East Pratt Suite 2525, Law Offices of Charles J. Piven, P.A., MD 21202
    410.332.0030 · pivenlaw@erols.com
  4. 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
No Document Title Filing Date
COURT: D. New Jersey
DOCKET #: 00-CV-01993
JUDGE: Hon. Joel A. Pisano
DATE FILED: 04/26/2001
CLASS PERIOD START: 10/26/1999
CLASS PERIOD END: 02/24/2000
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. Lite DePalma Greenberg, LLC (Newark)
    Two Gateway Center - 12th Floor, Lite DePalma Greenberg, LLC (Newark), NJ 07102-5003
    973.623.3000 ·
No Document Title Filing Date