According to the Company’s FORM 10-Q for the quarterly period ended September 30, 2001, in September 2001, the Court granted the Company's motion to dismiss the complaint without prejudice. The plaintiffs were given until October 22, 2001 to file an amended complaint. The plaintiffs chose not to file an amended complaint and the court dismissed the action with prejudice on October 30, 2001.
As summarized by the same SEC filing, in June 2000, the Company and certain of its officers and directors were named as defendants in several securities class action lawsuits filed in the United States District Court for the Southern District of Florida on behalf of purchasers of the Company's Common Stock during the period October 20, 1999 to June 9, 2000 (the "Class Period"). These actions were consolidated as In Re Citrix Systems, Inc. Securities Litigation. The lawsuits allege that, during the Class Period, the defendants made misstatements to the investing public about the Company's financial condition and prospects.
The original Complaint charges Citrix and certain officers and directors with
violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
The Complaint alleges that during the Class Period the Defendants failed to
timely disclose deteriorating gross margins and slowing expansion of revenues.
The Complaint further alleges that, while revenue growth and gross margins
were starting to deteriorate, the Defendants sold over $40 million of Citrix
stock at or near the highest prices at which the shares traded during the