Case Page

 

Case Status:    DISMISSED    
On or around 09/30/2002 (Date of order of final judgment)

Filing Date: March 26, 2001

According to the Company’s FORM 10-K for the fiscal year ended September 30, 2002, on September 30, 2002, the Court dismissed the case with prejudice. The plaintiffs had 30 days from September 30, 2002 to appeal the ruling, and the ruling was not appealed.

As reported by the same SEC filing, the Company and the Company’s chairman, president and chief executive officer had been served with six additional complaints that are identical to the first Complaint filed on March 26, 2001. These complaints were filed in the United States District Court for the Northern District of Ohio on March 28, 2001, March 29, 2001, March 30, 2001, April 5, 2001, April 12, 2001 and May 4, 2001. On July 23, 2001, the actions were consolidated and recaptioned In re: Keithley Instruments, Inc., Securities Litigation. On August 29, 2001, plaintiffs filed an Amended Complaint that included additional factual allegations and also named an officer of the Company as a defendant. On December 5, 2001, pursuant to an agreed order, the officer defendant was dismissed from the case.

The original complaint charges defendants with violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1935 and Rule 10b-5. The complaint alleges that the defendants issued a series of false and misleading statements to the market concerning the company's business condition and prospects for the second fiscal quarter of 2001 which resulted in artificially inflated prices for the company's common stock. On 01/18/2001, defendants reported record revenue for the first fiscal quarter of 2001, the three months ended 12/31/2000, touting Keithley's eighth consecutive quarter of record pre-tax earnings and sixth consecutive quarter of record sales. With respect to the second fiscal quarter of 2001, the three months ending 03/31/2001, defendants stated that Keithley's record backlog and current business will lead to second quarter pre-tax earnings in excess of those reported I the first quarter. Defendants repeated these positive statements concerning the fiscal Q2 2001 on 02/13/2001, in a press release and on 02/14/2001 in Keithley's SEC Form 10-Q. The complaint further alleges that defendants failed to disclose that Keithley was suffering from reduced new equipment orders, delays in scheduled deliveries and with respect to semiconductor customers, canceled orders, all of which would lead to reduced sale and earnings in fiscal Q2 2001. Prior to the disclosure of the true financial condition of the company in fiscal Q2 2001, Keithley sold approximately $3 million of Keithley shares.

COMPANY INFORMATION:

Sector: Technology
Industry: Electronic Instruments & Controls
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: KEI
Company Market: New York SE
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. Ohio
DOCKET #: 01-CV-00715
JUDGE: Hon. Kathleen M. O'Malley
DATE FILED: 03/26/2001
CLASS PERIOD START: 01/18/2001
CLASS PERIOD END: 03/09/2001
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Abbey Gardy & Squiteri LLP (San Francisco)
    595 Market Street, Suite 2500, Abbey Gardy & Squiteri LLP (San Francisco), CA 94105
    415.538.3725 ·
  2. 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 ·
  3. Edward J. Carreiro

    ·
  4. 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
  5. Savett Frutkin Podell & Ryan, P.C.

    800.993.3233 · sfprpc@op.net
No Document Title Filing Date
COURT: N.D. Ohio
DOCKET #: 01-CV-00715
JUDGE: Hon. Kathleen M. O'Malley
DATE FILED: 08/29/2001
CLASS PERIOD START: 01/18/2001
CLASS PERIOD END: 03/09/2001
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Abbey Gardy, LLP (New York)
    212 East 39th Street, Abbey Gardy, LLP (New York), NY 10016
    212.889.3700 · info@abbeygardy.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. 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. Bull & Lifshitz
    18 East 41st St., Bull & Lifshitz, NY 10017
    212.213.6222 212.213.9405 ·
  5. Cauley Geller Bowman & Coates (Boca Raton, FL)
    2255 Glades Road Suite 421A, Cauley Geller Bowman & Coates (Boca Raton, FL), FL 33431
    561.750.3000 ·
  6. Faruqi & Faruqi LLP (New York) (former)
    320 East 39th Street, Faruqi & Faruqi LLP (New York) (former), NY 10016
    212.983.9330 212.983.9331 · Nfaruqi@faruqilaw.com
  7. James Orman
    1600 Market Street, Suite 1416 , James Orman, PA 19103
    215.523.7800 ·
  8. Law Offices of Brian M. Felgoise, P.C.
    Esquire at 261 Old York Road, Suite 423, Law Offices of Brian M. Felgoise, P.C., PA 19046
    215.886.1900 · securitiesfraud@comcast.net
  9. 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
  10. 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
  11. Levin Fishbein Sedran & Berman (former)
    320 Walnut Street, 6th Floor , Levin Fishbein Sedran & Berman (former), PA 19106
    215.592.1500 ·
  12. Milberg Weiss Bershad Hynes & Lerach LLP (New York, NY)
    One Pennsylvania Plaza, Milberg Weiss Bershad Hynes & Lerach LLP (New York, NY), NY 10119-1065
    212.594.5300 ·
  13. Savett Frutkin Podell & Ryan, P.C.

    800.993.3233 · sfprpc@op.net
  14. Schiffrin & Barroway LLP
    3 Bala Plaza E, Schiffrin & Barroway LLP, PA 19004
    610.667.7706 610.667.7056 · info@sbclasslaw.com
  15. Spector, Roseman & Kodroff (Philadelphia)
    1818 Market Street; Suite 2500, Spector, Roseman & Kodroff (Philadelphia), PA 19103
    215.496.0300 215.496.6610 · classaction@srk-law.com
  16. The Landskroner Law Firm, Ltd.
    55 Public Square, Suite 1040, The Landskroner Law Firm, Ltd., OH 44113
    216.241.7000 ·
  17. Weisman, Goldberg & Weisman Co., L.P.
    101 Prospect Ave, West; 1600 Midland Building, Weisman, Goldberg & Weisman Co., L.P., OH 44115
    216.781.1111 216.781.6747 ·
  18. 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
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