Case Page

 

Case Status:    DISMISSED    
On or around 12/10/2002 (Date of order of final judgment)

Filing Date: May 22, 2000

According to the latest docket posted, on June 14, 2002, the Defendants filed a motion to dismiss and the hearing was held for the motion to dismiss on November 20, 2002. By the Memorandum Decision entered on December 2, 2002, U.S. District Judge Dale A. Kimball granted the motion to dismiss the Plaintiffs' Amended Proposed Class Action Complaint for Violations of Federal Securities Laws. The case is closed.

The original complaint charges that defendants violated Sections 10(b) and 20(a)
of the Securities Exchange Act of 1934, and Rule 10b-5 promulgated
thereunder, by issuing a series of material misrepresentations to the
market between October 18, 1999, and March 2, 2000, thereby artificially
inflating the price of First Security common stock. For example, as
alleged in the complaint, on January 19, 2000, the Company reported
earnings of $0.37 per share during its fourth quarter of fiscal 1999,
constituting an increase over the comparable quarter of 1998. In fact,
the Company's fourth quarter earnings per share were affected by an
undisclosed one-time nonrecurring gain of $0.04 per share. Thus the
Company's true operating performance was $0.33 per share, representing a
decrease over the comparable 1998 period. When the Company revealed, on
March 3, 2000, that its operating results for the fourth fiscal quarter
would fall short of estimates, the price of First Security common stock
dropped by 38%, falling from $22.50 per share, to $13.968 per share.

COMPANY INFORMATION:

Sector: Financial
Industry: S&Ls/Savings Banks
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: FSCO
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. Utah
DOCKET #: 00-CV-418
JUDGE: Hon. Dale A. Kimball
DATE FILED: 05/22/2000
CLASS PERIOD START: 10/18/1999
CLASS PERIOD END: 03/02/2000
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Cauley & Geller (Boca Raton)
    2255 Glades Road, #421A, Cauley & Geller (Boca Raton), FL 33431
    561.750.3000 ·
  2. 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
  3. Law Offices of Leo W. Desmond
    2161 Palm Beach Lakes Blvd., Suite 204, Law Offices of Leo W. Desmond, FL 33409
    888.337.6663 · Info@SecuritiesAttorney.com
  4. 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
  5. Schiffrin & Barroway LLP
    3 Bala Plaza E, Schiffrin & Barroway LLP, PA 19004
    610.667.7706 610.667.7056 · info@sbclasslaw.com
  6. Spector Roseman & Kodroff (San Diego)
    1818 Market Street, Suite 2500, Spector Roseman & Kodroff (San Diego), PA 19103
    215.496.0300 215.496.6611 ·
  7. 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
  8. Weiss & Yourman (New York, NY)
    The French Building, 551 Fifth Ave., Suite 1600, Weiss & Yourman (New York, NY), NY 10126
    212.682.3025 212.682.3010 · info@wyca.com
No Document Title Filing Date
COURT: D. Utah
DOCKET #: 00-CV-418
JUDGE: Hon. Dale A. Kimball
DATE FILED: 11/28/2000
CLASS PERIOD START: 10/18/1999
CLASS PERIOD END: 03/02/2000
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Anderson & Karrenberg
    700 Bank One Tower, 50 West Broadway, Anderson & Karrenberg, UT 84101
    801.534.1700 ·
  2. Cauley & Geller (Boca Raton)
    2255 Glades Road, #421A, Cauley & Geller (Boca Raton), FL 33431
    561.750.3000 ·
  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. Milberg Weiss Bershad Hynes & Lerach LLP (New York, NY)
    One Pennsylvania Plaza, Milberg Weiss Bershad Hynes & Lerach LLP (New York, NY), NY 10119-1065
    212.594.5300 ·
  5. Schiffrin & Barroway LLP
    3 Bala Plaza E, Schiffrin & Barroway LLP, PA 19004
    610.667.7706 610.667.7056 · info@sbclasslaw.com
  6. Weiss & Yourman (New York, NY)
    The French Building, 551 Fifth Ave., Suite 1600, Weiss & Yourman (New York, NY), NY 10126
    212.682.3025 212.682.3010 · info@wyca.com
No Document Title Filing Date
No Document Title Filing Date