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Case Status:    DISMISSED    
On or around 09/29/2005 (Date of order of final judgment)

Filing Date: May 10, 2001

According to the docket, on June 29, 2006, the plaintiffs filed a Notice of Appeal from the May 2006 Orders and Judgments granting the defendants’ motions to dismiss the Second Amended Consolidated Class Action Complaint. The appeal is currently pending in the U.S. Court of Appeals for the Ninth Circuit.

Previously, on October 16, 2002, the Court entered the Judgment dismissing with prejudice the case as to the defendants. On November 13, 2002, the plaintiffs filed a Notice of Appeal to the U.S. Court of Appeals for the Ninth Circuit. On April 30, 2004, the Court entered the Mandate from the U.S. Court of Appeals. The judgment of the District Court was affirmed in part and reversed in part. The case was remanded back to the District Court. On June 21, 2004, the defendants filed a motion to dismiss, which was denied by the Order entered on November 2, 2004. On November 2, 2005, the plaintiffs filed a Second Amended Consolidated Class Action Complaint. On December 15, 2005, the defendants filed various motions to dismiss the Second Consolidated Amended Complaint. On May 16, 2006, the Court entered the Order granting the defendants’ motions to dismiss the Second Amended Consolidated Class Action Complaint. Judgment was entered on June 1, 2006.

In a press release dated September 26, 2002, Network Commerce Inc. (OTCBB:NWKC), announced that the United States District Court for the Western District of Washington in Seattle has dismissed with prejudice the consolidated securities class actions filed against the company and the company's chairman and former chief executive officer and president. This litigation was a consolidation of multiple putative class actions, the first of which was filed on May 10, 2001, alleging violations of the federal securities laws based on alleged misrepresentations and omissions. On January 28, 2002, the company and the company's chairman and former chief executive officer and president filed a motion to dismiss the consolidated class action complaint for failure to state a claim on which legal relief can be granted, and on September 24, 2002, the court granted the motion, and denied the plaintiffs' request to file an amended complaint. Once a judgment is entered, the order will be subject to appeal.

The original complaint charges that Network Commerce and its Chairman and CEO violated Sections 11, 12(2), and 15 of the Securities Act of 1933, and Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. It is alleged that during the Class Period, defendants disseminated to the investing public false and misleading registration statements and prospectuses related to Network Commerce's Initial and Secondary Public Offerings, as well as its merger with Ubarter.com. Defendants distributed to the investing public false and misleading financial statements and press releases concerning the Company's growth of revenue, earnings, and ability to achieve profitability. In addition, each document, as well as quarterly and annual financial reports filed with the Securities and Exchange Commission (``SEC''), failed to disclose, among other things, the terms upon which Walker executed several promissory notes with the Company that led to a $4.5 million loss to the Company.

COMPANY INFORMATION:

Sector: Technology
Industry: Computer Services
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: NWKC
Company Market: NASDAQ
Market Status: OTC

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. Washington
DOCKET #: 01-CV-00675
JUDGE: Hon. Robert S. Lasnik
DATE FILED: 05/10/2001
CLASS PERIOD START: 09/28/1999
CLASS PERIOD END: 04/16/2001
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. 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
  2. Wechsler Harwood LLP
    488 Madison Avenue 8th Floor, Wechsler Harwood LLP, NY 10022
    212.935.7400 · info@whhf.com
No Document Title Filing Date
COURT: W.D. Washington
DOCKET #: 01-CV-00675
JUDGE: Hon. Robert S. Lasnik
DATE FILED: 11/02/2005
CLASS PERIOD START: 09/28/1999
CLASS PERIOD END: 04/16/2001
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. Cauley Geller Bowman & Coates, LLP (Little Rock, AR)
    11311 Arcade Drive, Suite 200, Cauley Geller Bowman & Coates, LLP (Little Rock, AR), AR 72212
    ·
  3. Keller Rohrback LLP (Seattle)
    1201 Third Avenue, Suite 3200, Keller Rohrback LLP (Seattle), WA 98101-3052
    800.776.6044 206.623.3384 · investor@kellerrohrback.com
  4. 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
  5. Law Offices of Bruce G. Murphy
    265 Llwyds Lane, Law Offices of Bruce G. Murphy, FL 32963
    561.231.4202 ·
  6. 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
  7. 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
  8. 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
  9. Schiffrin & Barroway LLP
    3 Bala Plaza E, Schiffrin & Barroway LLP, PA 19004
    610.667.7706 610.667.7056 · info@sbclasslaw.com
  10. Stull, Stull & Brody (Los Angeles)
    10940 Wilshire Boulevard - Suite 2300, Stull, Stull & Brody (Los Angeles), CA 90024
    310.209.2468 ·
  11. Stull, Stull & Brody (New York)
    6 East 45th Street, Stull, Stull & Brody (New York), NY 10017
    310.209.2468 310.209.2087 · SSBNY@aol.com
  12. Wechsler Harwood LLP
    488 Madison Avenue 8th Floor, Wechsler Harwood LLP, NY 10022
    212.935.7400 · info@whhf.com
  13. Wechsler, Harwood, Halebian & Feffer, LLP
    488 Madison Avenue, Wechsler, Harwood, Halebian & Feffer, LLP, NY
    212.935.7400 10022 ·
  14. Weiss & Yourman (New York, NY)
    The French Building, 551 Fifth Ave., Suite 1600, Weiss & Yourman (New York, NY), NY 10126
    212.682.3025 212.682.3010 · info@wyca.com
  15. 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