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Case Status:    DISMISSED    
On or around 04/05/2002 (Other)

Filing Date: March 17, 2000

On April 5, 2002, the Court entered the Stipulation and Order for Dismissal with prejudice as to the plaintiff’s individual claims. According to the Order by U.S. District Judge Audrey B. Collins, this action is dismissed with prejudice as to plaintiff John Huston's individual claims, with all parties to bear their own costs & attorney’s fees. Further, as no class has been certified, this action is dismissed without prejudice as to the claims of class members other than plaintiff John Huston.

According to a Press Release dated June 7, 2000, a class action was filed alleging violations of the Securities Act of 1933. In denying Defendants' Motion to Dismiss and permitting Plaintiff to Proceed against ICCMIC and certain of its directors, the Court said, 'The Prospectus is a part of the Registration Statement and the Prospectus fails to describe that ICCMIC must pay for the Manager's operating expenses'. ICCMIC filed a Registration Statement and Prospectus with the Securities and Exchange Commission on or about August 1, 1997. The complaint alleges that Prospectus contained false statements, including a variety of false Statements related to the compensation paid to a management entity hired to operate the investment fund and undisclosed conflicts of interest.


Sector: Financial
Industry: Investment Services
Headquarters: United States


Ticker Symbol: ICMI
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: C.D. California
DOCKET #: 00-CV-02751
JUDGE: Hon. Audrey B. Collins
DATE FILED: 03/17/2000
CLASS PERIOD END: 10/21/1999
  1. Stanbury Fishelman Wisner & Adsit
    9200 Sunset Boulevard, Penthouse 30, Stanbury Fishelman Wisner & Adsit, CA 90069-3601
    310.278.1800 310.278.1802 ·
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