Case Page

 

Case Status:    DISMISSED    
On or around 02/21/2003 (Other)

Filing Date: November 18, 1999

According to the Company’s FORM 10-K for the fiscal year ended December 31, 2002, on August 16, 2002, the United States District Court granted the Company’s Motion to Dismiss in the Consolidated Action. Plaintiff filed an appeal on December 6, 2002 to the Fifth Circuit Court of Appeals (the "Fifth Circuit") of the Court's ruling. However, in late January 2003, Plaintiff offered to withdraw the appeal and Plaintiff and Benchmark subsequently entered into an agreement wherein Benchmark agreed not to seek sanctions against Plaintiff in exchange for Plaintiff's covenant not to sue Benchmark for the subject matter made the basis of the current suit and to file with the Fifth Circuit a motion to withdraw the appeal. On January 31, 2003, Plaintiff filed the Motion to Withdraw with the Fifth Circuit and the Fifth Circuit entered a dismissal of the appeal on February 4, 2003.

The original action asserts a claim against Benchmark and certain of its officers for violations of Sections 10(b) and 20(a) of Securities Exchange Act of 1934 by reason of material misrepresentations and omissions. Specifically, the complaint alleges that on Oct. 22, 1999, the company announced third quarter earnings that were some 70% below consensus analyst estimates. The company attributed the poor earnings, in part, to component defects and delays in delivery of certain components during the third quarter. During that quarter, the company completed a $75 million private placement, and, thereafter, used some of the proceeds of the private placement as well as Benchmark stock to finance a major acquisition.

COMPANY INFORMATION:

Sector: Technology
Industry: Electronic Instruments & Controls
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: BHE
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. Texas
DOCKET #: 99-CV-04023
JUDGE: Hon. John D. Rainey
DATE FILED: 11/18/1999
CLASS PERIOD START: 08/10/1999
CLASS PERIOD END: 10/21/1999
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Claxton & Hill
    3131 McKinney Ave., Suite 700 LB 103, Claxton & Hill, TX 75204-2471
    214.969.9099 ·
  2. Kirby McInerney & Squire LLP
    830 Third Avenue 10th Floor, Kirby McInerney & Squire LLP, NY 10022
    212.317.2300 ·
No Document Title Filing Date
COURT: S.D. Texas
DOCKET #: 99-CV-04023
JUDGE: Hon. John D. Rainey
DATE FILED: 07/14/2000
CLASS PERIOD START: 08/10/1999
CLASS PERIOD END: 10/21/1999
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Claxton & Hill
    3131 McKinney Ave., Suite 700 LB 103, Claxton & Hill, TX 75204-2471
    214.969.9099 ·
  2. Greenberg, Peden, Siegmyer & Oshman
    12 Greenway Plaza, 10th floor, Greenberg, Peden, Siegmyer & Oshman, TX 77046
    713.627.2720 713.627.7050 ·
  3. Kirby McInerney & Squire LLP
    830 Third Avenue 10th Floor, Kirby McInerney & Squire LLP, NY 10022
    212.317.2300 ·
  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. Shepherd & Geller LLC
    117 Gayley Street, Suite 200, Shepherd & Geller LLC, PA 19063
    ·
No Document Title Filing Date