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Case Status:    SETTLED
On or around 07/26/2002 (Date of order of final judgment)

Filing Date: January 02, 2001

According to the docket, on February 25, 2002, the Fairness Hearing was held before U.S. District Judge Walker D. Miller. Judge Miller signed the Order and Final Judgment, approving the settlement and dismissing the case with prejudice and without costs except as provided in the stipulation. On July 24, 2003, the Court entered the Order granting the motions for distribution of the settlement and for an award of attorney fees and reimbursement of expenses.

By the Notice Of Pendency Of Class Action, a Settlement Fund consisting of an aggregate amount of $5,000,000 in cash, plus interest, has been established. Pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of Court dated April 30, 2002, a hearing will be held before the Honorable Walker D. Miller in the United States Courthouse, 1929 Stout Street, Denver, Colorado 80294, at 1:30 p.m. on July 25, 2002 (the "Settlement Fairness Hearing") to determine whether a proposed settlement (the "Settlement") as set forth in the Stipulation and Agreement of Settlement dated on or about March 6, 2002 (the "Stipulation"), is fair, reasonable and adequate, and to consider the proposed Plan of Allocation for the Settlement proceeds and the application of Plaintiffs' Counsel for attorneys' fees and reimbursement of expenses. By order dated April 30, 2002, the Court certified the Settlement Class for purposes of settlement only.

On September 7, 2001, the plaintiff filed an Amended Consolidated Class Action Complaint, and on October 22, 2001, the defendants filed a motion to dismiss the amended consolidated class action complaint. On March 22, 2002, a Stipulation of Settlement was filed.

The original complaint charges New Era of Networks, Inc. and certain of its officers with violations of Section 10(b) and 20(a) of the Securities Exchange Act of 1934 by reason of material misrepresentations and omissions. The complaint alleges that certain officers and directors issued false and misleading statements concerning the Company's financial results for the third quarter 2000. The Company did not disclose during the Class Period, but later acknowledged in an SEC filing, that the record revenues and earnings reported for its third quarter 2000 resulted from the Company's practice of selling software to companies in exchange for equity in its customers and booking the sales as non-cash revenue. Disclosure of this previously concealed information caused the Company's stock to plummet over 50% on November 21, 2000.

COMPANY INFORMATION:

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

SECURITIES INFORMATION:

Ticker Symbol: NEON
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: D. Colorado
DOCKET #: 01-CV-00003
JUDGE: Hon. Donald Abram
DATE FILED: 01/02/2001
CLASS PERIOD START: 10/18/2000
CLASS PERIOD END: 11/21/2000
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. Brodsky & Smith, LLC (former Pennysylvania)
    11 Bala Avenue, Suite 39, Brodsky & Smith, LLC (former Pennysylvania), PA 19004
    610.668.7987 610.660.0450 · esmith@Brodsky-Smith.com
  4. Cohen Milstein Hausfeld & Toll PLLC (Seattle WA)
    701 Fifth Avenue, Suite 6860, Cohen Milstein Hausfeld & Toll PLLC (Seattle WA), WA 98014
    206.521.0080 206.521.0166 · lawinfo@cmht.com
  5. Dyer & Shuman, LLP
    801 East 17th Avenue, Dyer & Shuman, LLP, CO 80218-1417
    303.861.3003 800.711.6483 · info@dyershuman.com
  6. Edward J. Carreiro

    ·
  7. Kirby McInerney & Squire LLP
    830 Third Avenue 10th Floor, Kirby McInerney & Squire LLP, NY 10022
    212.317.2300 ·
  8. 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
  9. Law Offices of Marc S. Henzel (Lawrence)
    335 Central Avenue, Law Offices of Marc S. Henzel (Lawrence), NY 11559
    516.374.0707 516.295.3473 · securitiesfraud@comcast.net
  10. Ritchie & Rediker, L.L.C.
    312 North 23rd Street, Ritchie & Rediker, L.L.C., AL 35203
    1800.251.1127 205.324.7830 · tkrebs@ritchie-rediker.com
  11. Schatz & Nobel, P.C.
    330 Main Street, Schatz & Nobel, P.C., CT 06106
    800.797.5499 860.493.6290 · sn06106@AOL.com
  12. Weiss & Yourman (New York, NY)
    The French Building, 551 Fifth Ave., Suite 1600, Weiss & Yourman (New York, NY), NY 10126
    212.682.3025 212.682.3010 · info@wyca.com
No Document Title Filing Date
COURT: D. Colorado
DOCKET #: 01-CV-00003
JUDGE: Hon. Donald Abram
DATE FILED: 09/07/2001
CLASS PERIOD START: 10/18/2000
CLASS PERIOD END: 11/21/2000
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. 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
No Document Title Filing Date
No Document Title Filing Date