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Case Status:    SETTLED
On or around 01/28/2005 (Date of order of final judgment)

Filing Date: June 08, 2000

According to the docket, on September 30, 2004, the Court entered the Order preliminarily approving the Stipulation and Agreement of Settlement. On January 28, 2005, the Court entered the Order and Final Judgment. The Court granted the motion for approval of settlement, motion for approval of plan of allocation and the motion for attorney fees and reimbursement of expenses. The settlement fund was in the amount of $5.2 million. The case is now closed.

Previously, on October 15, 2002, the Court entered the Order signed by U.S. District Judge Shelby Highsmith granting in part, denying in part UniCapital’s motion to dismiss plaintiffs' consolidated amended class action complaint. According to the Order, count II of Plaintiffs' amended complaint, which asserts claims against Defendant UniCapital pursuant to section 12(a)(2)of the Securities Act, is dismissed. The remainder of Defendant's motion to dismiss is denied. The Plaintiffs had twenty days to amend the complaint, but on September 24, 2004, a Stipulation and Agreement of Settlement was filed.

The original complaint charges that the Company and certain of its officers and directors violated the federal securities laws by providing materially false and misleading statements regarding the Company. Specifically, as alleged in the complaint, on May 14, 1998, the Company represented in the prospectus issued in connection with the Company's Initial Public Offering (the "Prospectus") that it recognized $588.7 million in goodwill as an asset in connection with twelve corporate acquisitions. UniCapital, however, did not disclose that it overvalued the acquisitions. In addition, the prospectus failed to disclose that the company would have to comply with federal noise abatement statutes thereby requiring the phasing-out of certain types of the Company's aircraft which would, and did, negatively impact the Company's operations. When the Company announced, on May 15, 2000, that its first quarter 2000 financial results would be dramatically lower than the market had been led to believe, due to, among other things, an $8.5 million operating loss, as well as a $239.3 million write off of the impaired goodwill, the stock price of UniCapital dropped by 28%.

COMPANY INFORMATION:

Sector: Services
Industry: Rental & Leasing
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: UCP
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: S.D. Florida
DOCKET #: 00-CV-2054
JUDGE: Hon. Shelby Highsmith
DATE FILED: 06/08/2000
CLASS PERIOD START: 05/14/1998
CLASS PERIOD END: 05/15/2000
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Cauley, Geller, Bowman, Coates & Rudman LLP (San Diego, CA)
    225 Broadway, Suite 1900, Cauley, Geller, Bowman, Coates & Rudman LLP (San Diego, CA), CA 92010
    619.702.7350 619.702.7351 ·
  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. 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: S.D. Florida
DOCKET #: 00-CV-2054
JUDGE: Hon. Shelby Highsmith
DATE FILED: 11/13/2000
CLASS PERIOD START: 05/14/1998
CLASS PERIOD END: 05/15/2000
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Curtis V. Trinko LLP
    16 West 46th Street 7th Floor, Curtis V. Trinko LLP, NY 10036
    212.490.9550 212.986.0158 · ctrinko@trinko.com
  2. Lerach Coughlin Stoia Geller Rudman & Robbins LLP (Boca Raton)
    197 South Federal Highway, Suite 200, Lerach Coughlin Stoia Geller Rudman & Robbins LLP (Boca Raton), FL 33432
    561.750.3000 56.750.3364 · info@lerachlaw.com
  3. Milberg Weiss Bershad & Schulman LLP (Boca Raton)
    5355 Town Center Road, Suite 900, Milberg Weiss Bershad & Schulman LLP (Boca Raton), FL 33486
    561.361.5000 561.367.8400 · info@milbergweiss.com
  4. Milberg Weiss Bershad Hynes & Lerach LLP (Boca Raton)
    The Plaza, Suite 900, 5355 Town Center Road, Milberg Weiss Bershad Hynes & Lerach LLP (Boca Raton), FL 33486
    561.361.5000 ·
No Document Title Filing Date
No Document Title Filing Date