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Case Status:    SETTLED
On or around 08/01/2002 (Date of order of final judgment)

Filing Date: April 06, 2000

According to the docket, on February 26, 2002, a Stipulation and Agreement of Settlement was filed, and on August 1, 2002, the Court entered the Stipulated Order and Final Judgment by U.S. District Judge Frederick J. Martone. The Stipulation and the proposed Class Action Settlement was approved and the complaint was dismissed with prejudice. The Court lastly entered the Final Order Authorizing the Distribution of the Settlement fund on April 26, 2004.

The original complaint charges Finova and certain of its officers and directors with violations of the federal securities laws by making misrepresentations about Finova's business, earnings growth and financial statements and its ability to continue to achieve profitable growth and by concealing a large non-performing loan and failing to write-down this asset on a timely basis. By issuing these allegedly false and misleading statements, defendants artificially inflated Finova's stock price to a Class Period high of $54-1/2 before the true facts about Finova's non-performing loan and much lower earnings were revealed and Finova's stock collapsed to as low as $16-3/16 per share.

COMPANY INFORMATION:

Sector: Financial
Industry: Consumer Financial Services
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: FNV
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: D. Arizona
DOCKET #: 00-CV-00619
JUDGE: Hon. Stephen M. McNamee
DATE FILED: 04/06/2000
CLASS PERIOD START: 07/15/1999
CLASS PERIOD END: 03/26/2000
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bernstein Litowitz Berger & Grossmann LLP (former San Diego)
    12544 High Bluff Drive, Suite 150, Bernstein Litowitz Berger & Grossmann LLP (former San Diego), CA 92130
    858.793.0070 858.793.0323 · blbg@blbglaw.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 Haldenstein Adler Freeman & Herz LLP (New York)
    270 Madison Avenue, Wolf Haldenstein Adler Freeman & Herz LLP (New York), NY 10016
    212.545.4600 212.686.0114 · newyork@whafh.com
No Document Title Filing Date
COURT: D. Arizona
DOCKET #: 00-CV-00619
JUDGE: Hon. Stephen M. McNamee
DATE FILED: 05/04/2001
CLASS PERIOD START: 07/15/1999
CLASS PERIOD END: 03/26/2000
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bernstein Litowitz Berger & Grossmann LLP (former San Diego)
    12544 High Bluff Drive, Suite 150, Bernstein Litowitz Berger & Grossmann LLP (former San Diego), CA 92130
    858.793.0070 858.793.0323 · blbg@blbglaw.com
  2. Bonnett, Fairbourn, Friedman & Balint, PC (Phoenix)
    4041 N. Cental Avenue, Suite 1100, Bonnett, Fairbourn, Friedman & Balint, PC (Phoenix), AZ 85012-3311
    602.274.1100 ·
  3. Kaplan Fox & Kilsheimer, LLP (former New York, NY)
    805 Third Avenue, 22nd Floor, Kaplan Fox & Kilsheimer, LLP (former New York, NY), NY 10022
    212.687.1980 212.687.7714 · info@kaplanfox.com
No Document Title Filing Date