Case Page

 

Case Status:    SETTLED
On or around 12/01/2003 (Date of order of final judgment)

Filing Date: November 02, 2001

By the Final Judgment and Order of Dismissal with Prejudice entered on December 1, 2003, Plaintiff's motion for final approval of class settlement and for an award of attorneys' fees and reimbursement of expenses is granted. The case is terminated.

According to a Press Release dated December 2, 2003, Nanophase Technologies
Corporation announced that following a hearing on December 1, 2003, the United States District Court for the Northern District of Illinois ordered final approval of
a $2,500,000 settlement of the securities class action lawsuit filed against
the Company and certain of its current and former officers. Because the settlement has been funded by the Company's directors and officers liability insurance, the settlement will not have a material adverse effect on Nanophase's financial position.

In a press release dated July 2003, Nanophase Technologies Corp. reached an oral agreement in principle to settle the securities class action lawsuit filed against it and certain of its current and former officers, pending in the U.S. District Court for the Northern District of Illinois, for $2.5 million.

The original complaint charges Nanophase and certain of its officers and directors with violations of federal securities laws. Among other things, plaintiff claims that defendants' material omissions and the dissemination of materially false and misleading statements regarding the nature of Nanophase's revenues and earnings caused Nanophase's stock price to become artificially inflated, inflicting enormous damages on investors.

COMPANY INFORMATION:

Sector: Basic Materials
Industry: Misc. Fabricated Products
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: NANX
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: N.D. Illinois
DOCKET #: 01-CV-8440
JUDGE: Hon. Wayne R. Andersen
DATE FILED: 11/02/2001
CLASS PERIOD START: 04/05/2001
CLASS PERIOD END: 10/24/2001
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Glancy Binkow & GoldBerg LLP
    1925 Century Park East, Suite 2100, Glancy Binkow & GoldBerg LLP, CA 90067
    310-201-9150 · info@glancylaw.com
  2. Pomerantz LLP (New York)
    600 Third Avenue, Pomerantz LLP (New York), NY 10016
    212.661.1100 212.661.8665 · info@pomerantzlaw.com/
No Document Title Filing Date
COURT: N.D. Illinois
DOCKET #: 01-CV-8440
JUDGE: Hon. Wayne R. Andersen
DATE FILED: 03/08/2002
CLASS PERIOD START: 04/05/2001
CLASS PERIOD END: 10/24/2001
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Glancy Binkow & GoldBerg LLP
    1925 Century Park East, Suite 2100, Glancy Binkow & GoldBerg LLP, CA 90067
    310-201-9150 · info@glancylaw.com
  2. Pomerantz LLP (New York)
    600 Third Avenue, Pomerantz LLP (New York), NY 10016
    212.661.1100 212.661.8665 · info@pomerantzlaw.com/
No Document Title Filing Date