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Case Status:    SETTLED
On or around 10/21/2004 (Date of order of final judgment)

Filing Date: March 07, 2000

According to the docket, on October 21, 2004, the Court entered the Final Judgment of Dismissal with Prejudice. Plaintiffs’ Counsel was awarded attorney fees in the amount of $6,666,666 and reimbursement of expenses in the amount of $1,599,494.23 to be paid pursuant to the procedure set forth in the Stipulation. The case was closed. Earlier, on July 2, 2004, a Stipulation of settlement between the class representatives and certain Individual Defendants was filed. The Court entered U.S. District Judge Joseph F. Anderson Jr.’s preliminarily approved the settlement on July 12, 2004.

By the Notice of Settlement of Class Action, the proposed settlement creates an additional fund in the amount of $20,000,000 in cash (the “Settlement Amount”), plus interest. This settlement does not affect the prior settlement with PwC for $24,500,000.

The action alleges that Safety-Kleen and certain of its officers materially overstated the company's revenues and earnings. It further alleges that the company and its officers failed to reveal the true state of the company's deteriorating financial condition until March 6, 2000, when Safety-Kleen announced that it "has initiated an internal investigation of its prior reported financial results and certain of its accounting policies and practices following receipt by the Company's Board of Directors of information alleging possible accounting irregularities that may have affected the previously reported financial results of the Company since fiscal year 1998." Two days later, on March 8, 2000, Safety-Kleen's auditor stated that it had withdrawn its prior opinions on the company's financial statements for the fiscal years ended August 31, 1999, 1998, and 1997.

NOTE: Safety-Kleen filed for bankruptcy and is not a party to this Action.

COMPANY INFORMATION:

Sector: Services
Industry: Waste Management Services
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: SK
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. South Carolina
DOCKET #: 00-CV-00736
JUDGE: Hon. Joseph F. Anderson Jr.
DATE FILED: 03/07/2000
CLASS PERIOD START: 07/07/1998
CLASS PERIOD END: 03/06/2000
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. 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. Pomerantz LLP (New York)
    600 Third Avenue, Pomerantz LLP (New York), NY 10016
    212.661.1100 212.661.8665 · info@pomerantzlaw.com/
  4. Schiffrin & Barroway LLP
    3 Bala Plaza E, Schiffrin & Barroway LLP, PA 19004
    610.667.7706 610.667.7056 · info@sbclasslaw.com
  5. Shapiro Haber & Urmy LLP (Boston)
    75 State Street, Shapiro Haber & Urmy LLP (Boston), MA 02109
    617.439.3939 617.439.0134 · info@shulaw.com
  6. 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. South Carolina
DOCKET #: 00-CV-00736
JUDGE: Hon. Joseph F. Anderson Jr.
DATE FILED: 08/09/2001
CLASS PERIOD START: 07/07/1998
CLASS PERIOD END: 03/06/2000
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Abbey Gardy & Squiteri LLP (San Francisco)
    595 Market Street, Suite 2500, Abbey Gardy & Squiteri LLP (San Francisco), CA 94105
    415.538.3725 ·
  2. Berger & Montague PC
    1622 Locust Street, Berger & Montague PC, PA 19103
    800.424.6690 215.875.4604 · investorprotect@bm.net
  3. Kirby McInerney & Squire LLP
    830 Third Avenue 10th Floor, Kirby McInerney & Squire LLP, NY 10022
    212.317.2300 ·
  4. Ness, Motley, Loadholt, Richardson & Poole
    28 Bridgeside Blvd. , Ness, Motley, Loadholt, Richardson & Poole, SC 29464
    843.216.9000 · inquiry@nmlrp.com
  5. Pomerantz LLP (New York)
    600 Third Avenue, Pomerantz LLP (New York), NY 10016
    212.661.1100 212.661.8665 · info@pomerantzlaw.com/
  6. Wechsler Harwood, LLP.
    488 Madison Avenue 8th Floor, Wechsler Harwood, LLP., NY 10022
    212.935.7400 212.753.3630 · info@whesq.com
No Document Title Filing Date
No Document Title Filing Date