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Case Status:    SETTLED
On or around 09/26/2003 (Date of order of final judgment)

Filing Date: February 16, 2001

According to the docket dated September 30, 2003, on September 25, 2003, the Court entered the Final Judgment and Order of Dismissal with Prejudice. U.S. District Judge William H. Alsup approved the settlement and further granted the motions for attorney fees and reimbursement expenses as well as the plan of allocation of settlement proceeds.

In a press release dated May 28, 2003, the Judge William H. Alsup of the United States District Court for the Northern District of California, presiding over the litigation, recently signed a preliminary order confirming the settlement terms, which call for the payment of $15 million to shareholders who are members of the class by virtue of their shareholdings in the company during the class period. The settlement terms do not include any admission or finding of wrongdoing on the part of the company or individual defendants, who maintained their denials of improper behavior throughout the proceedings. The settlement is being fully funded by Commtouch's Directors and Officers insurance policy.

The original Complaint alleges that defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10-b(5). Specifically, on February 14, 2001, Commtouch announced that it would restate its first three quarterly 2000 financial statements because of accounting misstatements. Subject to completion of the 2000 audit, Commtouch expects to restate its revenues and net loss for the first three quarters of 2000 and adjust revenues downwards by $4.4 million. On this news, Commtouch's shares fell roughly 45%, resulting in substantial damage to plaintiff and the Class

COMPANY INFORMATION:

Sector: Services
Industry: Communications Services
Headquarters: Israel

SECURITIES INFORMATION:

Ticker Symbol: CTCH
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. California
DOCKET #: 01-CV-00719
JUDGE: Hon. William H. Alsup
DATE FILED: 02/16/2001
CLASS PERIOD START: 04/19/2000
CLASS PERIOD END: 02/13/2001
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. Bernstein Liebhard & Lifshitz, LLP (New York)
    10 E. 40th Street, 22nd Floor, Bernstein Liebhard & Lifshitz, LLP (New York), NY 10016
    800.217.1522 · info@bernlieb.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. Kirby McInerney & Squire LLP
    830 Third Avenue 10th Floor, Kirby McInerney & Squire LLP, NY 10022
    212.317.2300 ·
  5. 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
  6. Law Offices of Leo W. Desmond
    2161 Palm Beach Lakes Blvd., Suite 204, Law Offices of Leo W. Desmond, FL 33409
    888.337.6663 · Info@SecuritiesAttorney.com
  7. 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
  8. 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
  9. 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. California
DOCKET #: 01-CV-00719
JUDGE: Hon. William H. Alsup
DATE FILED: 08/22/2002
CLASS PERIOD START: 04/19/2000
CLASS PERIOD END: 02/13/2001
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Kirby McInerney & Squire LLP
    830 Third Avenue 10th Floor, Kirby McInerney & Squire LLP, NY 10022
    212.317.2300 ·
  2. Lerach Coughlin Stoia Geller Rudman & Robbin (San Francisco)
    100 Pine Street, Suite 2600, Lerach Coughlin Stoia Geller Rudman & Robbin (San Francisco), CA 94111
    415.288.4545 415.288.4534 · info@lerachlaw.com
  3. Lerach Coughlin Stoia Geller Rudman & Robbins LLP (San Diego)
    401 B Street, Suite 1700, Lerach Coughlin Stoia Geller Rudman & Robbins LLP (San Diego), CA 92101
    206.749.5544 206.749.9978 · info@lerachlaw.com
  4. Lionel Z. Glancy
    1801 Avenue of the Stars Suite 308, Lionel Z. Glancy, CA 90067
    310.201.9150 ·
  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
No Document Title Filing Date
No Document Title Filing Date