Case Page

 

Case Status:    DISMISSED    
On or around 07/31/2001 (Other)

Filing Date: December 21, 1999

According to the Company’s Form 10-Q for the quarterly period ended August 31, 2001, the complaints were consolidated into a single action, and in August 2000, the complaint was dismissed without prejudice with leave to amend. The plaintiffs re-filed an amended complaint, and Verity filed a motion to dismiss this amended complaint on October 27, 2000. By order dated February 13, 2001, the court granted the motion in part and denied it in part. The court dismissed with prejudice all claims except a single claim relating to alleged communications with a securities analyst near the end of Verity’s second fiscal 2000 quarter. On July 24, 2001, council for plaintiffs agreed to voluntarily dismiss the action with prejudice, and without an award of costs or fees to any party. The court ordered the case dismissed on July 27, 2001.

The original complaint charges that these insiders violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10-b(5) and profited from their actions by selling stock worth approximately $8.8 million at artificially inflated prices during the Class Period. The complaint further alleges that the Class suffered damages as a result of a scheme and common course of conduct by defendants which operated as a fraud and deceit on the Class during the Class Period. According to the complaint, defendants' scheme included rendering false and misleading statements and/or omissions concerning the present and future financial condition and business prospects of the Company, as well as the financial benefits that would enure to Verity and its shareholders.

COMPANY INFORMATION:

Sector: Technology
Industry: Software & Programming
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: VRTY
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: N.D. California
DOCKET #: 99-CV-05337
JUDGE: Hon. Charles R. Breyer
DATE FILED: 12/21/1999
CLASS PERIOD START: 12/01/1999
CLASS PERIOD END: 12/14/1999
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. Stull, Stull & Brody (Los Angeles)
    10940 Wilshire Boulevard - Suite 2300, Stull, Stull & Brody (Los Angeles), CA 90024
    310.209.2468 ·
  4. Weiss & Yourman (Los Angeles, CA)
    10940 Wilshire Blvd - 24th Floor, Weiss & Yourman (Los Angeles, CA), CA 90024
    310.208.2800 310.209.2348 · info@wyca.com
No Document Title Filing Date
COURT: N.D. California
DOCKET #: 99-CV-05337
JUDGE: Hon. Charles R. Breyer
DATE FILED: 09/27/2000
CLASS PERIOD START: 12/01/1999
CLASS PERIOD END: 12/14/1999
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. Keller Rohrback LLP (Seattle)
    1201 Third Avenue, Suite 3200, Keller Rohrback LLP (Seattle), WA 98101-3052
    800.776.6044 206.623.3384 · investor@kellerrohrback.com
  3. Law Offices of Marc S. Henzel (Bala Cynwyd)
    273 Montgomery Ave. Suite 202, Law Offices of Marc S. Henzel (Bala Cynwyd), PA 19004
    610.660.8000 610.660.8080 · securitiesfraud@comcast.net
  4. Milberg Weiss Bershad Hynes & Lerach LLP (S.F., CA)
    100 Pine Street - Suite 2600, Milberg Weiss Bershad Hynes & Lerach LLP (S.F., CA), CA 94111
    415.288.4545 415.288.4534 ·
  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. Stull, Stull & Brody (Los Angeles)
    10940 Wilshire Boulevard - Suite 2300, Stull, Stull & Brody (Los Angeles), CA 90024
    310.209.2468 ·
  7. Weiss & Yourman (Los Angeles, CA)
    10940 Wilshire Blvd - 24th Floor, Weiss & Yourman (Los Angeles, CA), CA 90024
    310.208.2800 310.209.2348 · info@wyca.com
No Document Title Filing Date
No Document Title Filing Date