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Case Status:    SETTLED
On or around 11/24/2003 (Date of order of final judgment)

Filing Date: July 26, 2000

According to the docket posted, on November 24, 2003, the Court entered the Order awarding attorneys’ fees in the amount of 25% of the settlement fund, or $2,750,000, and reimbursement of costs and expenses in the amount of $283,428.75, plus interest earned. The Court further entered the Final Judgment and Order of Dismissal with Prejudice signed by U.S. District Judge David C. Godbey.

Earlier, on December 12, 2000, the Court entered the Memorandum Opinion of U.S. District Judge Jerry Buchmeyer, appointing Saint Denis J. Villere & Co. as lead plaintiff and approving Villere’s choice of Goodkind Labaton Rudoff & Sucharow LLP as lead counsel. On April 6, 2001, the plaintiffs filed a Consolidated Amended Class Action Complaint, and the defendants responded with a joint motion to dismiss the complaint. On September 25, 2002, the Court entered the Order signed by Judge David C. Godbey denying the joint motion to dismiss. On October 1, 2003, a Stipulation of Settlement was filed, and the settlement was preliminarily approved by an Order entered on October 15, 2003. According to the Stipulation of Settlement, the Settlement Fund was in the amount of $11 million, plus interest.

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 about the Company's revenues. Specifically, the complaint alleges that defendants' false and misleading statements concerning the revenues to be derived from its dark fiber segment, artificially inflated the price of CapRock stock. CapRock's top officers knew but concealed that much of its projected in second quarter 2000 revenues was to be derived from a contract which, despite months of efforts, CapRock had been unable to have signed. The upsurge in CapRock's stock price caused by defendants' false and misleading statements allowed CapRock to sell 4.5 million shares of CapRock stock for proceeds of $83 million and enabled defendants to infuse CapRock with desperately-needed capital to fund its operations. On July 6, 2000, days after CapRock's Secondary Offering was completed, CapRock revealed that it was in fact suffering a huge drop in revenues, that its losses would be much greater than defendants had stated in the prior weeks, and exposed the problems CapRock had been experiencing during the Class Period with its dark fiber business. This announcement caused its stock price to drop to as low as $12 from its Class Period high of $36 on record volume of over 4 million shares on July 6, 2000, causing tens of millions of dollars in damages to members of the Class.

COMPANY INFORMATION:

Sector: Services
Industry: Communications Services
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: CPRK
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. Texas
DOCKET #: 00-CV-1613
JUDGE: Hon. Jerry Buchmeyer
DATE FILED: 07/26/2000
CLASS PERIOD START: 04/28/2000
CLASS PERIOD END: 07/06/2000
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Berger & Montague PC
    1622 Locust Street, Berger & Montague PC, PA 19103
    800.424.6690 215.875.4604 · investorprotect@bm.net
  2. 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
  3. 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 ·
  4. 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
  5. Levy & Levy

    ·
  6. 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
  7. Pomerantz LLP (New York)
    600 Third Avenue, Pomerantz LLP (New York), NY 10016
    212.661.1100 212.661.8665 · info@pomerantzlaw.com/
  8. Spector Roseman & Kodroff (San Diego)
    1818 Market Street, Suite 2500, Spector Roseman & Kodroff (San Diego), PA 19103
    215.496.0300 215.496.6611 ·
  9. 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. Texas
DOCKET #: 00-CV-1613
JUDGE: Hon. Jerry Buchmeyer
DATE FILED: 04/06/2001
CLASS PERIOD START: 04/28/2000
CLASS PERIOD END: 07/06/2000
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Goodkind Labaton Rudoff & Sucharow LLP
    100 Park Avenue, Goodkind Labaton Rudoff & Sucharow LLP, NY 10017
    212.907.0700 212.818.0477 · info@glrslaw.com
No Document Title Filing Date