On or around 10/06/2009 (Date of order of final judgment)
Filing Date: August 13, 2001
According to the Press Release dated August 13, 2001, the lawsuit asserts claims under Section 11, 12 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 by the SEC thereunder and seeks to recover damages. The complaint further alleges that E-Loan, Inc. and certain of its officers and directors violated the federal securities laws by issuing and selling E-Loan common stock pursuant to the initial public offering without disclosing to investors that at least one of the lead underwriters and two of the other underwriters of the IPO had solicited and received excessive and undisclosed commissions from certain investors. The complaint further alleges that defendants violated the Securities Act of 1933 because the Prospectus distributed to investors and the Registration Statement filed with the SEC in order to gain regulatory approval for the E-Loan offering contained material misstatements regarding the commissions that the underwriters would derive from the IPO and failed to disclose the additional commissions and ``laddering'' scheme discussed above.
Company & Securities Information
Defendant: E-Loan, Inc.
Industry: Consumer Financial Services
Headquarters: United States
Ticker Symbol: EELN
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.
First Identified Complaint
Kassin, v. E-Loan, Inc., et al.
COURT: S.D. New York
DOCKET #: 01-CV-7467
JUDGE: Hon. Shira A. Scheindlin
DATE FILED: 08/13/2001
CLASS PERIOD START: 06/28/1999
CLASS PERIOD END: 08/10/2001
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Berger & Moss 800 North Shoreline Boulevard, Suite 2000, North Tower, Berger & Moss, TX 78401 512.866.8000 ·