Case Page

 

Case Status:    SETTLED
On or around 11/27/2002 (Date of order of final judgment)

Filing Date: July 07, 2000

According to the docket posted on this website, the court entered its order and final judgment for the plaintiffs and against the defendants on November 27, 2002.

As reported by the Company's SEC 10-Q Filing for the quarterly period ended March 29, 2002, Advanced Technical Products, Inc. and certain of its Officers and Directors have been named in a number of lawsuits filed during July 2000 in the United States District Court for the Northern District of Georgia. During October 2000, the lawsuits were consolidated and in January 2001, an amended complaint was filed. During January 2002, a memorandum of understanding (“MOU”) was entered into by the Company and plaintiffs’ counsel outlining terms and conditions for settlement of the suit. The MOU provides for a settlement amount of $2,950,000, $983,000 of which would be paid by the Company and $1,967,000 of which would be paid by the Company’s insurance carrier. If final court approval is received and payment is made, the Company will be released from all further claims held or made by the shareholder class with respect to matters raised in the suit. The Company’s portion of the settlement was accrued during the fourth quarter of 2001.

The original class action suit charges Advanced Technical Products, Alcore and certain former officers of Alcore, with violations of the federal securities laws by issuing materially false and misleading financial statements concerning Advanced Technical Products. The Company has restated its financial statements for the year-end 1998 and its first three fiscal quarters of 1999. The restatement resulted in a substantial reduction to the Company’s previously reported earnings.

COMPANY INFORMATION:

Sector: Basic Materials
Industry: Misc. Fabricated Products
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: ATPX
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. Georgia
DOCKET #: 00-CV-1702
JUDGE: Hon. Willis B. Hunt, Jr.
DATE FILED: 07/07/2000
CLASS PERIOD START: 04/22/1998
CLASS PERIOD END: 03/03/2000
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Berman DeValerio Pease Tabacco Burt & Pucillo (MA)
    One Liberty Square, Berman DeValerio Pease Tabacco Burt & Pucillo (MA), MA 2109
    617.542.8300 617.230.0903 · info@bermanesq.com
  2. 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 ·
  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. 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: N.D. Georgia
DOCKET #: 00-CV-1702
JUDGE: Hon. Willis B. Hunt, Jr.
DATE FILED: 01/30/2001
CLASS PERIOD START: 04/22/1998
CLASS PERIOD END: 04/28/2000
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Berman DeValerio Pease Tabacco Burt & Pucillo (CA)
    425 California Street, Suite 2025, Berman DeValerio Pease Tabacco Burt & Pucillo (CA), CA 94104
    415.433.3200 415.433.6382 ·
  2. Chitwood & Harley LLP (Atlanta)
    7945 East Paces Ferry Road, 1400 Resurgens Plaza, Chitwood & Harley LLP (Atlanta), GA 30326
    404.266.1650 · info@chitwoodlaw.com
  3. 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
No Document Title Filing Date