Case Page


Case Status:    SETTLED
On or around 10/09/2002 (Date of order of final judgment)

Filing Date: March 30, 2001

On June 11, 2002, a Stipulation of Settlement was filed, and on October 9, 2002, the Court entered the Final Judgment and Order of Dismissal with Prejudice by U.S. District Judge Margaret M. Morrow. Pursuant to Rule 23 of the FRCP, the Court approved the settlement as set forth in Stipulation and the case was terminated. The Court further entered the Order awarding attorney fees equal to 20% of the settlement fund, litigation costs in the amount of $54,576.92, and awarded $2,000.00 and $750.00 to lead plaintiffs Sanford Israel and Thomas Becker, respectively.

According to the Company’s Form 10-K for the fiscal year ended February 28, 2003, on June 18, 2001, the twenty actions were consolidated into a single action pursuant to stipulation of the parties, and lead plaintiffs' counsel was appointed. In July 2001, all of the Company's directors were named as defendants in the above-entitled shareholder derivative lawsuit filed in Los Angeles Superior Court. In December 2001, the parties reached an agreement to settle both the class action litigation and the shareholder derivative lawsuit for the aggregate sum of $1.5 million, subject to final Court approval. Of this amount, the Company's primary directors and officers liability insurance carrier agreed to contribute $575,000 toward the settlement, which amount was paid in December 2001. The Company accrued its $925,000 share of the settlement in the fiscal year ended February 28, 2002. Of this amount, $425,000 was paid by the Company in December 2001, and the remaining $500,000 was paid in October 2002 upon the Court's final approval of the settlement agreement.

The original complaint was filed charging California Amplifier with violations of the Securities Exchange Act of 1934. On March 29, 2001, California Amplifier announced that it will restate its fiscal 2000 financial statements because of accounting misstatements.


Sector: Technology
Industry: Communications Equipment
Headquarters: United States


Ticker Symbol: CAMP
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 #: 01-CV-02988
JUDGE: Hon. Margaret M. Morrow
DATE FILED: 03/30/2001
CLASS PERIOD END: 03/28/2001
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    One Liberty Square, Berman DeValerio Pease Tabacco Burt & Pucillo (MA), MA 2109
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  2. Edward J. Carreiro

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    45 West Court Street, Hoffman & Edelson, PA 18901-4223
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  4. Kirby McInerney & Squire LLP
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    212.317.2300 ·
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    202.544.9840 202.544.9850 ·
  6. 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 ·
  7. Schubert & Reed LLP
    Two Embarcadero Center, Suite 1050, Schubert & Reed LLP, CA 94111
    415.788.4220 415.788.0161 ·
  8. Scott & Scott LLC (Connecticut)
    P.O. Box 192, 108 Norwich Avenue, Scott & Scott LLC (Connecticut), CT 06415
    860.537.5537 860.537.4432 ·
  9. Wolf Popper, LLP
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    877.370.7703 212.486.2093 ·
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