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Case Status:    SETTLED
On or around 09/30/2005 (Date of order of final judgment)

Filing Date: August 28, 2001

According to the Company’s FORM 10-Q for the quarterly period ended September 30, 2005, in June 2004, the parties entered into a settlement agreement which provided for the parties to settle the action for $13.8 million. The court approved the settlement on September 29, 2005 and the matter is now concluded. The settlement was funded entirely by insurance.

On November 29, 2001, the Court entered the Order consolidating the action. On March 27, 2002, the Court entered the Order appointing lead plaintiffs and approving their selection of lead counsel. On May 13, 2002, the plaintiffs filed a Consolidated Amended Class Action Complaint and the defendants responded by filing a motion to dismiss. On March 12, 2003, the Court entered the Order granting in part the defendants' motion to dismiss the Consolidated Class Action Complaint. On April 7, 2003, the plaintiffs filed an Amended Class Action Complaint, and the defendants again responded by a motion to dismiss. On August 5, 2003, the Court entered the Opinion and Order denying the motion to dismiss. On September 23, 2004 the plaintiffs filed a Settlement Agreement.

The original complaint charges KeySpan and certain of its executive officers with violations of the Securities Exchange Act of 1934. The complaint alleges that defendants are liable as participants in a fraudulent scheme and course of business that operated as a fraud or deceit on purchasers of KeySpan common stock by disseminating materially false and misleading statements and/or concealing material adverse facts. The scheme: (i) deceived the investing public regarding KeySpan's business, operations, management and the intrinsic value of KeySpan common stock; (ii) enabled the Individual Defendants to sell their personally-held shares of KeySpan common stock reaping proceeds of more than $29 million; and (iii) caused plaintiff and other members of the Class to purchase KeySpan common stock at artificially inflated prices.

COMPANY INFORMATION:

Sector: Utilities
Industry: Natural Gas Utilities
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: KSE
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: E.D. New York
DOCKET #: 01-CV-05852
JUDGE: Hon. Allyne R. Ross
DATE FILED: 08/28/2001
CLASS PERIOD START: 04/26/2000
CLASS PERIOD END: 07/17/2001
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 & Rudman LLP (Little Rock, AR)
    P.O. Box 25438, Cauley Geller Bowman Coates & Rudman LLP (Little Rock, AR), AR 72221-5438
    501.312.8500 501.312.8505 ·
  3. Kirby McInerney & Squire LLP
    830 Third Avenue 10th Floor, Kirby McInerney & Squire LLP, NY 10022
    212.317.2300 ·
  4. 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
  5. Leo W. Desmond
    2161 Palm Beach Lakes Boulevard, Suite 204, Leo W. Desmond, FL 33409
    561.712.8000 561.712.8000 · stocklaw@bellsouth.net
  6. 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
No Document Title Filing Date
COURT: E.D. New York
DOCKET #: 01-CV-05852
JUDGE: Hon. Allyne R. Ross
DATE FILED: 04/07/2003
CLASS PERIOD START: 11/04/1999
CLASS PERIOD END: 01/24/2002
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Cauley Bowman Carney & Williams, PLLC (Little Rock)
    11001 Executive Center Drive, Suite 200, Cauley Bowman Carney & Williams, PLLC (Little Rock), AR 72211
    501.312.8500 888.551.9944 · info@cauleybowman.com
  2. Cauley Geller Bowman & Coates LLP (Little Rock)
    P.O. Box 25438, Cauley Geller Bowman & Coates LLP (Little Rock), AR 72221-5438
    501.312.8500 ·
  3. 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
  4. WeissLaw LLP
    551 Fifth Avenue, Suite 1600, WeissLaw LLP, NY 10176
    212.682.3025 212.682-3010 · info@wllawny.com
No Document Title Filing Date
No Document Title Filing Date