Case Page

 

Case Status:    SETTLED
On or around 12/20/2004 (Date of order of final judgment)

Filing Date: April 13, 2001

According to the docket, on December 7, 2004, the Court entered the Decision and Order by U.S. District Judge Charles J. Siragusa granting in part and denying in part the motion for settlement. The Court gives final certification to this action as a class action, and approves the settlement of the case for the sum of $12,500,000.00. The Court further directs that payments be made to lead counsel as follows: 1) an award of $3,125,000.00 for attorneys’ fees; 2) an award of $197,331.65 for expenses; 3) an award of $250.00 to Kenneth Slater; 4) an award of $550.00 to Agnes Tang; and 5) an award of $832.63 to Joseph Hannon. On December 20, 2004, the Court entered the Order and Final Judgment.

As reported by the Company’s FORM 10-Q For the Quarter Ended September 25, 2004, all direct claims against the Company’s CFO have been dismissed by the Court. Additionally, certain claims against the Company and certain direct claims against the Company’s former Chairman and CEO and the Company’s former President have been dismissed. In the plaintiffs' remaining direct and secondary claims it is alleged that the value of the Company's stock was inflated artificially by alleged false and misleading statements about expected financial results. The plaintiffs seek to represent a class of shareholders who purchased company Common stock between January 27, 2000 and August 24, 2000. On October 15, 2001, the April 13, 2001 matter was consolidated with other matters raising similar claims. On August 2, 2004, the parties executed a settlement agreement, which is subject to the Court's approval, to settle this matter for $12.5 million in cash, all of which will be paid by the Company's insurance carrier. The settlement agreement is subject to final review at a fairness hearing, which will be held on or about November 5, 2004.

The original class action lawsuit charges defendants with violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5. Specifically, the complaint alleges that defendants violated the federal securities laws by issuing false and misleading statements concerning the company’s business prospects, revenue and net income. When the company finally revealed an accurate description of the company’s true financial condition, the stock price dropped precipitously, thereby resulting in substantial damages to shareholders.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Medical Equipment & Supplies
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: BOL
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: W.D. New York
DOCKET #: 01-CV-06190
JUDGE: Hon. Charles J. Siragusa
DATE FILED: 04/13/2001
CLASS PERIOD START: 04/13/2000
CLASS PERIOD END: 08/24/2000
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. 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
  2. Edward J. Carreiro

    ·
  3. 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
  4. 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 ·
  5. Wechsler Harwood LLP
    488 Madison Avenue 8th Floor, Wechsler Harwood LLP, NY 10022
    212.935.7400 · info@whhf.com
  6. 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: W.D. New York
DOCKET #: 01-CV-06190
JUDGE: Hon. Charles J. Siragusa
DATE FILED: 12/17/2001
CLASS PERIOD START: 01/27/2000
CLASS PERIOD END: 08/24/2000
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. 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 ·
  2. Wechsler Harwood LLP
    488 Madison Avenue 8th Floor, Wechsler Harwood LLP, NY 10022
    212.935.7400 · info@whhf.com
  3. 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
No Document Title Filing Date