Case Page

 

Case Status:    DISMISSED    
On or around 10/01/2001 (Date of order of final judgment)

Filing Date: February 04, 2000

According to the Company’s FORM 10-Q For The Quarterly Period Ended September 30, 2001, on October 1, 2001, the United States District Court for the Southern District of Texas dismissed with prejudice the consolidated federal securities action styled Dov Klein v. BMC Software, Inc., No. 00-CV-359. Plaintiffs have elected not to appeal the dismissal.

As previously disclosed by the Company’s FORM 10-Q For The Quarterly Period Ended June 30, 2001, on March 9, 2000, the court consolidated four similar actions, ordered that all subsequently filed similar actions be consolidated, and set out a briefing schedule. Subsequently, six additional cases were filed that made similar allegations. These cases were also consolidated into the main action. On August 14, 2000, the plaintiff filed a consolidated amended complaint. This complaint alleges a class of all persons who purchased BMC stock between July 29, 1999 and July 5, 2000. The Company has filed a motion to dismiss the complaints.

The original complaint charges BMC and certain of its officers and directors with violations of the Securities Exchange Act of 1934. The complaint alleges that defendants' false and misleading statements about strong sales of BMC's existing software products, the successful integration of its acquisitions of Boole & Babbage and New Dimension Software earlier in 1999, strong demand for its mainframe MIPS software, notwithstanding a slow down in sales of IBM mainframe computers, and the lack of customer deferrals of orders or purchases due to Y2K concerns, which would result in 25%-30% EPS growth for BMC during F00-F01 and 3rd and 4thQ F00 EPS of .55 and .64, respectively, artificially inflated its stock to a Class Period high of $86-5/8 on January 3, 2000. During the Class Period, BMC insiders and controlling shareholders sold 1,085,015 shares of their BMC stock at as high as $78.83 for $63.1 million in proceeds. On January 5, 2000, just two days after BMC's stock hit its all-time high, BMC revealed that, due to problems integrating the BMC, Boole & Babbage and New Dimension sales forces, sales execution procedures in Europe and the U.S., and weakness in demand for mainframe MIPS software products, its 3rdQ F00 results would be much worse than earlier forecast. BMC's stock fell from $85-1/8 on January 4, 2000 to $47, an almost 50% drop in one day, and when BMC reported 3rdQ F00 EPS of just $.41, a decline from its 2ndQ F00 EPS and its year-earlier 3rdQ F99 EPS, its stock continued to fall to just $36.

COMPANY INFORMATION:

Sector: Technology
Industry: Software & Programming
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: BMCS
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: S.D. Texas
DOCKET #: 00-CV-00359
JUDGE: Hon. Kenneth M. Hoyt
DATE FILED: 02/04/2000
CLASS PERIOD START: 07/29/1999
CLASS PERIOD END: 01/04/2000
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. Hoeffner, Bilek & Eidman
    440 Louisiana, suite 720, Hoeffner, Bilek & Eidman, TX 77002-1634
    713.227.7720 ·
  3. 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
  4. Rabin & Peckel LLP
    275 Madison Avenue, 34th Floor, Rabin & Peckel LLP, NY 10016
    212.682.1818 212.682.1892 · email@rabinlaw.com
  5. Spector Roseman & Kodroff (San Diego)
    1818 Market Street, Suite 2500, Spector Roseman & Kodroff (San Diego), PA 19103
    215.496.0300 215.496.6611 ·
  6. 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
  7. 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. Texas
DOCKET #: 00-CV-00359
JUDGE: Hon. Kenneth M. Hoyt
DATE FILED: 08/14/2000
CLASS PERIOD START: 07/29/1999
CLASS PERIOD END: 07/05/2000
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Greenberg, Peden, Siegmyer & Oshman
    12 Greenway Plaza, 10th floor, Greenberg, Peden, Siegmyer & Oshman, TX 77046
    713.627.2720 713.627.7050 ·
  2. Hoeffner, Bilek & Eidman
    440 Louisiana, suite 720, Hoeffner, Bilek & Eidman, TX 77002-1634
    713.227.7720 ·
  3. 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
  4. Schwartz, Junell, Campbell & Oathout, LLP (Houston)
    909 Fannin - Suite 2000, Schwartz, Junell, Campbell & Oathout, LLP (Houston), TX 77010
    713.752.0017 713.752.0327 ·
  5. 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
  6. The Emerson Firm
    2228 Cottondale Avenue, Suite 100, The Emerson Firm, AR 72202
    800.663.9817 501.907.2556 · epllp@emersonpoynter.com
No Document Title Filing Date
No Document Title Filing Date