Case Page

 

Case Status:    DISMISSED    
On or around 04/11/2001 (Other)

Filing Date: August 22, 2000

According to the co-lead counsel’s website, additional cases have been filed on behalf of investors. On November 3, 2001, the various cases were consolidated and Lead Plaintiffs were appointed; Wolf Haldenstein Adler Freeman & Herz LLP was appointed Co-Lead Counsel. On December 21, 2000, a consolidated amended complaint was filed with the Court. On February 1, 2001, Defendants moved to have the complaint dismissed. On April 10, 2001, Judge Katz granted defendants' motion to dismiss the complaint.

The original class action lawsuit commenced charging the Company and related defendants with violations of Sections 10(b), 14(e) and 20(a) of the Securities Exchange Act of 1934 and Rules 10b-5 and 14D-9 promulgated thereunder. The Complaint alleges, among other things, that defendants failed to reveal that, on or before January 28, 2000, CDnow's outside auditor advised CDnow management of its "substantial doubt about [CDnow's] ability to continue as a going concern , that this "going concern" qualification would impede the merger with Columbia House and that CDnow could not survive without a merger partner. In its July 26, 2000 Form 14D-9, in connection with the tender offer for CDnow made by Bertelsmann, CDnow also failed to disclose the same material information. The auditor's "going concern" qualification was first disclosed in CDnow's Form 10-K filed with the SEC on March 28, 2000.

COMPANY INFORMATION:

Sector: Services
Industry: Retail (Specialty)
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: CDNW
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: E.D. Pennsylvania
DOCKET #: 00-CV-04290
JUDGE: Hon. Marvin Katz
DATE FILED: 08/22/2000
CLASS PERIOD START: 01/28/2000
CLASS PERIOD END: 03/28/2000
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Abbey Gardy & Squiteri LLP (San Francisco)
    595 Market Street, Suite 2500, Abbey Gardy & Squiteri LLP (San Francisco), CA 94105
    415.538.3725 ·
  2. Bernard M. Gross
    1500 Walnut Street, Suite 600, Bernard M. Gross, PA 19102
    215.561.3600 215.561.3000 · bmgross@BernardMGross.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. Spector, Roseman & Kodroff (Philadelphia)
    1818 Market Street; Suite 2500, Spector, Roseman & Kodroff (Philadelphia), PA 19103
    215.496.0300 215.496.6610 · classaction@srk-law.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: E.D. Pennsylvania
DOCKET #: 00-CV-04290
JUDGE: Hon. Marvin Katz
DATE FILED: 12/21/2000
CLASS PERIOD START: 01/28/2000
CLASS PERIOD END: 03/28/2000
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Abbey Gardy & Squiteri LLP (San Francisco)
    595 Market Street, Suite 2500, Abbey Gardy & Squiteri LLP (San Francisco), CA 94105
    415.538.3725 ·
  2. Bernard M. Gross
    1500 Walnut Street, Suite 600, Bernard M. Gross, PA 19102
    215.561.3600 215.561.3000 · bmgross@BernardMGross.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