On or around 10/06/2009 (Date of order of final judgment)
Filing Date: November 01, 2001
According to a Press Release dated November 2, 2001, a complaint was filed alleging violations of Sections 11, 12(a)(2) and 15 of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. On or about February 1, 2000, IMPSAT commenced an initial public offering of 11,500,000 of its shares of common stock at an offering price of $17 per share (the "IMPSAT IPO"). In connection therewith, IMPSAT filed a registration statement, which incorporated a prospectus (the "Prospectus"), with the SEC. The complaint further alleges that the Prospectus was materially false and misleading because it failed to disclose, among other things, that: (i) the Underwriter Defendants had solicited and received excessive and undisclosed commissions from certain investors in exchange for which the Underwriter Defendants allocated to those investors material portions of the restricted number of IMPSAT shares issued in connection with the IMPSAT IPO; and (ii) the Underwriter Defendants had entered into agreements with customers whereby the Underwriter Defendants agreed to allocate IMPSAT shares to those customers in the IMPSAT IPO in exchange for which the customers agreed to purchase additional IMPSAT shares in the aftermarket at pre-determined prices.
Company & Securities Information
Defendant: IMPSAT Fiber Networks
Industry: Communications Services
Ticker Symbol: IMPT
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
Unknown Plaintiff, et al. v. IMPSAT Fiber Networks Inc., et al.