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Case Status:    DISMISSED    
On or around 11/09/2004 (Date of order of final judgment)

Filing Date: February 20, 2001

According to the docket, on November 9, 2004, the Court entered the Stipulation and Order of Dismissal by U.S. District Judge Jed S. Rakoff dismissing the action with prejudice and without costs to either party.

On June 3, 2002, the Court entered the Judgment dismissing the Second Amended Complaint with prejudice and the case was closed. The Plaintiff soon after filed a Notice of Appeal, and on February 5, 2004, the Court entered the Mandate of the US Court of Appeals affirming in part and reversing in part the judgment of the District Court.

The original Complaint alleges that during the Class Period, the Company failed to register the Company's offering of securities with the Securities and Exchange Commission as required by Sections 6 and 7 of the Securities Act, and no exemption from registration was applicable to the Company's securities offering. In addition, the Complaint alleges that in connection with the offering, the Company made misstatements of material facts, and omitted material facts from its disclosures required so as not to make the disclosures misleading, all in connection with the Company's financial condition, and prospects for financing the Company's business. On June 29, 2000, the Company and two of its subsidiaries filed for protection under the Bankruptcy Code.

The First Identified Complaint was amended on or about May 31, 2001. The Amended Complaint seeks remedies for violations of Section 12(a)(1) and (a) (2) of the Securities Act of 1933 against the individual defendants as control persons pursuant to Section 15 of the Securities Act. Copy of the Amended Complaint is available from the Court.

COMPANY INFORMATION:

Sector: Services
Industry: Communications Services
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol:
Company Market: Privately Traded
Market Status: Privately Held

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: S.D. New York
DOCKET #: 01-CV-1254
JUDGE: Hon. Jed S. Rakoff
DATE FILED: 02/20/2001
CLASS PERIOD START: 11/01/1999
CLASS PERIOD END: 06/29/2000
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bragar, Wexler, Eagel & Morgenstern, L.L.P.
    885 Third Avenue, Suite 3040 , Bragar, Wexler, Eagel & Morgenstern, L.L.P., NY 10022
    212.308.5858 · morgenstern@bragarwexler.com
No Document Title Filing Date
COURT: S.D. New York
DOCKET #: 01-CV-1254
JUDGE: Hon. Jed S. Rakoff
DATE FILED: 11/19/2001
CLASS PERIOD START: 11/01/1999
CLASS PERIOD END: 06/29/2000
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bragar, Wexler, Eagel & Morgenstern, L.L.P.
    885 Third Avenue, Suite 3040 , Bragar, Wexler, Eagel & Morgenstern, L.L.P., NY 10022
    212.308.5858 · morgenstern@bragarwexler.com
No Document Title Filing Date