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Case Status:    SETTLED
On or around 08/07/2003 (Date of order of final judgment)

Filing Date: September 08, 2000

According to the docket, on September 29, 2003, the Court entered the Final Judgment post remand. By the Final Judgment, the Final Judgment and Order of Dismissal with prejudice entered on August 5, 2003, is affirmed in light of the full remand of the case from the Eleventh Circut Court of Appeals. The case is dismissed with prejudice and the proposed class action settlement is fully approved and reaffirmed by the court.

Earlier, on March 1, 2002, the Court entered the Order by US District Judge Clarence Cooper granting the motion to dismiss the consolidated amended complaint with prejudice and the case was terminated. A Notice of Appeal was soon filed, and on March 4, 2003, the Court entered the certified copy of the Order from the US Court of Appeals granting the parties' joint motion to stay the appeal and for limited remand to the US District Court for purposes of approval of the settlement. The appeal was stayed pending the US District Court’s ruling on the settlement agreement. On May 6, 2003, a Stipulation of Settlement was filed, and on August 7, 2003, the Court entered the Final Judgment and Order of Dismissal with Prejudice.

The original complaint alleges that defendants iXL and certain of its officers violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder, by issuing a series of material misrepresentations to the market between February 2, 2000 and September 1, 2000, thereby artificially inflating the price of iXL common stock. Specifically, during the Class Period, defendants repeatedly stated that the Company was experiencing strong growth when, in fact, customer demand for iXL's products and services was seriously declining. When the Company revealed on September 1, 2000 that it was experiencing such a slowdown and would miss revenue expectations in the third quarter and record a pro forma net loss, iXL stock fell 16% to close at $7 per share, a significant decrease from the Company's Class Period highs in February 2000 of over $48 per share.

COMPANY INFORMATION:

Sector: Technology
Industry: Computer Services
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: IIXL
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-02347
JUDGE: Hon. Clarence Cooper
DATE FILED: 09/08/2000
CLASS PERIOD START: 02/02/2000
CLASS PERIOD END: 09/01/2000
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. Finkelstein, Thompson & Loughran
    1050 30th Street, NW, Finkelstein, Thompson & Loughran, DC 20007
    202.337.8000 202.337.8090 · contact@ftllaw.com
  3. 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
  4. Leo W. Desmond
    2161 Palm Beach Lakes Boulevard, Suite 204, Leo W. Desmond, FL 33409
    561.712.8000 561.712.8000 · stocklaw@bellsouth.net
  5. 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
  6. Spector Roseman & Kodroff (San Diego)
    1818 Market Street, Suite 2500, Spector Roseman & Kodroff (San Diego), PA 19103
    215.496.0300 215.496.6611 ·
  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: N.D. Georgia
DOCKET #: 00-CV-02347
JUDGE: Hon. Clarence Cooper
DATE FILED: 03/27/2001
CLASS PERIOD START: 11/30/1999
CLASS PERIOD END: 09/01/2000
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Cauley Geller Bowman Coates & Rudman LLP (Little Rock, AR)
    P.O. Box 25438, Cauley Geller Bowman Coates & Rudman LLP (Little Rock, AR), AR 72221-5438
    501.312.8500 501.312.8505 ·
  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. Chitwood Harley Harnes LLP (Atlanta)
    2300 Promenade II; 1230 Peachtree Street, N.E., Chitwood Harley Harnes LLP (Atlanta), GA 30309
    888.873.3999 404.876.4476 · info@chitwoodlaw.com
  4. Holzer Holzer & Cannon, LLP
    1117 Perimeter Center West, Suite E-107 , Holzer Holzer & Cannon, LLP , GA 30338
    888.508.6832 · holzerlaw@aol.com
  5. Lerach Coughlin Stoia Geller Rudman & Robbins LLP (Boca Raton)
    197 South Federal Highway, Suite 200, Lerach Coughlin Stoia Geller Rudman & Robbins LLP (Boca Raton), FL 33432
    561.750.3000 56.750.3364 · info@lerachlaw.com
  6. Milberg Weiss Bershad & Schulman LLP (Boca Raton)
    5355 Town Center Road, Suite 900, Milberg Weiss Bershad & Schulman LLP (Boca Raton), FL 33486
    561.361.5000 561.367.8400 ·
  7. Vianale & Vianale LLP (former Boca Raton)
    The Plaza - Suite 801, 5355 Town Center Road., Vianale & Vianale LLP (former Boca Raton), FL 33486
    561.391.4900 561.368.9274 · info@vianalelaw.com
  8. 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