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Case Status:    DISMISSED    
On or around 12/03/2001 (Date of order of final judgment)

Filing Date: May 31, 2000

According to the Order of Dismissal issued on November 30, 2001, on September 20, 2001, this Court granted the defendants' motion to dismiss for failure to state a claim without prejudice and gave plaintiffs 60 days from the date of the order to file an amended complaint. Plaintiffs have failed to so comply despite asking the Court for such relief in the event the motion were granted. Because all claims against all served defendants have been dismissed, this case shall now be closed and this complaint shall be dismissed with prejudice.

The original complaint alleges violations of federal securities laws and regulations by Tesoro as well as several of the Company's officers and directors. On May 3, 2000, Tesoro announced its financial results for the first quarter of 2000. The Company's Chief Executive Officer, Bruce Smith, admitted that Tesoro's first quarter 2000 results were significantly below analysts' consensus expectations, in part, because the indicator of Tesoro refining profit margins that the Company had begun to post on its Internet website at the beginning of the year did not reflect the volatility of oil prices in the first quarter. Smith also admitted that the Company had failed to adjust the discount factor used to account for variations when oil prices became volatile. As a result, analysts and the investing public were misled by the indicator margins posted on the Company's website and incorrectly believed that the Company's average margins were higher than they actually were.

COMPANY INFORMATION:

Sector: Energy
Industry: Oil & Gas Operations
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: TSO
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: W.D. Texas
DOCKET #: 00-CV-00541
JUDGE: Hon. Fred Biery
DATE FILED: 05/31/2000
CLASS PERIOD START: 01/03/2000
CLASS PERIOD END: 05/03/2000
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. 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
  2. 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
  3. Seeger Weiss LLP (New York Old Address)
    40 Wall Street. The Trump Building, Seeger Weiss LLP (New York Old Address), NY 10005
    212.584.0700 · info@seegerweiss.com
  4. 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: W.D. Texas
DOCKET #: 00-CV-00541
JUDGE: Hon. Fred Biery
DATE FILED: 01/08/2001
CLASS PERIOD START: 01/03/2000
CLASS PERIOD END: 05/03/2000
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Hoeffner, Bilek & Eidman
    440 Louisiana, suite 720, Hoeffner, Bilek & Eidman, TX 77002-1634
    713.227.7720 ·
  2. 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
  3. Seeger Weiss LLP (New York)
    One William Street, Seeger Weiss LLP (New York), NY 10004
    212.584.0700 · info@seegerweiss.com
  4. 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