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Case Status:    DISMISSED    
On or around 01/29/2001 (Date of order of final judgment)

Filing Date: April 19, 2000

According to the docket posted, on January 29, 2001, the Court entered the Order signed by U.S. District Judge Alexander Harvey II granting the defendants’ motions to dismiss the Consolidated and Amended Class Action Complaint. The action was dismissed, and the case was closed.

As summarized by the Company’s FORM 10-Q For The Quarterly Period Ended September 30, 2000, ten putative shareholder class action lawsuits were filed against the Company, and three of its former officers and two of its former directors on or after April 20, 2000. The lawsuits have since been consolidated in a single lawsuit that purports to be a class action filed on behalf of purchasers of the stock of the Company during the period from August 12, 1999 through March 30, 2000. Plaintiff alleges that defendants made false and misleading statements about the Company's financial condition, revenues, expenses, and results of operations, in violation of federal securities laws.

The original lawsuit charges Espire and certain officers of the Company, with violations of the federal securities laws. The lawsuit alleges that defendants issued a series of false and misleading statements during the Class Period concerning the Company's assets, revenues, income and earnings. The complaint specifically alleges that the Company's 1999 revenues and operating results were overstated through improper revenue recognition and the overstatement of receivables, causing the Company to have to restate its 1999 results. The complaint further alleges that certain insiders took advantage of their inside knowledge to sell significant amounts of their own Espire stock holdings for proceeds of over $2.8 million. On March 30, 2000, the market discovered for the first time defendants' deceptive accounting practices. By the close of trading on March 31, 2000, the Company's stock price had fallen almost 38%, to a close of $7.031.

COMPANY INFORMATION:

Sector: Services
Industry: Communications Services
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: ESPI
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. Maryland
DOCKET #: 00-CV-01140
JUDGE: Hon. Alexander Harvey II
DATE FILED: 04/19/2000
CLASS PERIOD START: 08/12/1999
CLASS PERIOD END: 03/30/2000
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
  2. Finkelstein, Thompson & Loughran
    1050 30th Street, NW, Finkelstein, Thompson & Loughran, DC 20007
    202.337.8000 202.337.8090 · contact@ftllaw.com
  3. Schiffrin & Barroway LLP
    3 Bala Plaza E, Schiffrin & Barroway LLP, PA 19004
    610.667.7706 610.667.7056 · info@sbclasslaw.com
  4. 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
  5. Wechsler Harwood LLP
    488 Madison Avenue 8th Floor, Wechsler Harwood LLP, NY 10022
    212.935.7400 · info@whhf.com
  6. Wechsler, Harwood, Halebian & Feffer, LLP
    488 Madison Avenue, Wechsler, Harwood, Halebian & Feffer, LLP, NY
    212.935.7400 10022 ·
  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: D. Maryland
DOCKET #: 00-CV-01140
JUDGE: Hon. Alexander Harvey II
DATE FILED: 09/14/2000
CLASS PERIOD START: 08/12/1999
CLASS PERIOD END: 03/30/2000
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
  2. Finkelstein, Thompson & Loughran
    1050 30th Street, NW, Finkelstein, Thompson & Loughran, DC 20007
    202.337.8000 202.337.8090 · contact@ftllaw.com
  3. Jaroslawicz & Jaros (former NY)
    150 William Street, Jaroslawicz & Jaros (former NY), NY 10038
    212.227.2780 ·
  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. Law Offices of Marc S. Henzel (Bala Cynwyd)
    273 Montgomery Ave. Suite 202, Law Offices of Marc S. Henzel (Bala Cynwyd), PA 19004
    610.660.8000 610.660.8080 · securitiesfraud@comcast.net
  6. Lovell Stewart Halebian LLP (former New York)
    500 Fifth Avenue, Lovell Stewart Halebian LLP (former New York), NY 10110
    212.608.1900 212.719.4677 · info@lshllp.com
  7. Savett Frutkin Podell & Ryan, P.C.

    800.993.3233 · sfprpc@op.net
  8. Schatz & Nobel, P.C.
    330 Main Street, Schatz & Nobel, P.C., CT 06106
    800.797.5499 860.493.6290 · sn06106@AOL.com
  9. Tydings & Rosenberg LLP
    100 East Pratt Street, Tydings & Rosenberg LLP, MD 21202
    410.752.9700 410.757.5460 · webmaster@tydingslaw.com
  10. Wechsler Harwood LLP
    488 Madison Avenue 8th Floor, Wechsler Harwood LLP, NY 10022
    212.935.7400 · info@whhf.com
  11. Wechsler, Harwood, Halebian & Feffer, LLP
    488 Madison Avenue, Wechsler, Harwood, Halebian & Feffer, LLP, NY
    212.935.7400 10022 ·
  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
  13. 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