Case Page

 

Case Status:    DISMISSED    
On or around 04/11/2003 (Other)

Filing Date: June 14, 2002

According to the docket posted, on April 10, 2003, the plaintiffs’ filed a notice of voluntary dismissal. The next day, the Court issued and entered the Order signed by U.S. District Judge Andre M. Davis approving the plaintiffs’ filed a notice of voluntary dismissal. The case is closed.

On July 17, 2002, the Court entered the Order granting the joint motion to consolidate all cases. On August 22, 2002, the Court entered the Stipulation of dismissal without prejudice as to defendants USInternetworkings, Inc., due to the company’s bankruptcy. On January 16, 2003, the Court entered the Order appointing lead plaintiff and approving the lead plaintiffs’ selection of co-lead counsel. On March 17, 2003, the plaintiffs filed an Amended Complaint.

The class action seeks damages under federal securities laws for anyone who bought USinternetworking, Inc. stock between February 17, 2000 and January 7, 2002, inclusive (the "Class Period"). The complaint charges defendants with violations of the Securities Act of 1934. The complaint alleges that subsequent to the Company's Secondary Offering, it begun to disseminate false and misleading press releases concerning its dire financial position which lead to it transaction with Bain Capital Partners, L.L.C. and complete dilution of shareholders' equity.

COMPANY INFORMATION:

Sector: Technology
Industry: Computer Services
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: USIX
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.
COURT: D. Maryland
DOCKET #: 02-CV-1937
JUDGE: Hon. Andre M. Davis
DATE FILED: 06/14/2002
CLASS PERIOD START: 02/17/2000
CLASS PERIOD END: 01/07/2002
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Finkelstein, Thompson & Loughran
    1050 30th Street, NW, Finkelstein, Thompson & Loughran, DC 20007
    202.337.8000 202.337.8090 · contact@ftllaw.com
  2. 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
No Document Title Filing Date
COURT: D. Maryland
DOCKET #: 02-CV-1937
JUDGE: Hon. Andre M. Davis
DATE FILED: 03/17/2003
CLASS PERIOD START: 02/17/2000
CLASS PERIOD END: 01/07/2002
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Finkelstein, Thompson & Loughran
    1050 30th Street, NW, Finkelstein, Thompson & Loughran, DC 20007
    202.337.8000 202.337.8090 · contact@ftllaw.com
  2. 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
No Document Title Filing Date