Case Page

 

Case Status:    DISMISSED    
On or around 11/15/2004 (Date of order of final judgment)

Filing Date: May 10, 2001

According to the docket posted, on September 29, 2004, the Court entered the Order by Judge Mikel H. Williams finding moot the plaintiffs’ motion for class and subclass certification and denying the plaintiffs’ motion for entry of default judgment against the defendants. On November 3, 2004, the plaintiffs filed a motion for dismissal without prejudice, and on November 15, 2004, the Court entered the Order by the Honorable Edward J. Lodge granting the motion for dismissal without prejudice. The case is closed.

The original complaint alleges that, during the class period, PrimeBuy and its co-founders violated multiple sections of the Securities Act of 1933, the Securities Exchange Act of 1934, and the Idaho Securities and Consumer Protection Acts, by misrepresenting and omitting material facts in connection with the operation, financial condition and prospects of PrimeBuy, and in connection with PrimeBuy securities. The complaint further alleges that defendants were conducting a classic 'pyramid' scheme, in which the PrimeBuy Internet Mall was simply a multilevel marketing scheme, offering an array of shopping 'opportunities' already available on the Internet. In addition, it is asserted that defendants misrepresented that the memberships and/or stock issued by PrimeBuy complied with applicable state and federal securities laws, and that the Company would be holding an initial public offering of its stock during September 2000. As a result of these false and misleading statements and omissions, investors are left holding worthless shares of unregistered stock in an allegedly illegal pyramid scheme.

COMPANY INFORMATION:

Sector: Technology
Industry: Computer 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: D. Idaho
DOCKET #: 01-CV-0207
JUDGE: Hon. Edward J. Lodge
DATE FILED: 05/10/2001
CLASS PERIOD START: 09/24/1999
CLASS PERIOD END: 05/10/2001
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. 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
No Document Title Filing Date
COURT: D. Idaho
DOCKET #: 01-CV-0207
JUDGE: Hon. Edward J. Lodge
DATE FILED: 07/06/2001
CLASS PERIOD START: 09/24/1999
CLASS PERIOD END: 05/10/2001
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Cosho, Humphrey, Greener & Welsh, P.A.
    815 West Washington Street, The Carnegie Bldg., Cosho, Humphrey, Greener & Welsh, P.A., ID 83702
    208.344.7811 208.344.3290 ·
  2. 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
No Document Title Filing Date