Case Page

 

Case Status:    DISMISSED    
On or around 07/23/2003 (Date of order of final judgment)

Filing Date: November 30, 2001

According to the Company’s FORM 10-K for the fiscal year ended December 31, 2003, a consolidated complaint was filed in April 2002, and on September 11, 2002, the court dismissed the complaint with leave to amend. Thereafter, on October 16, 2002, the plaintiffs filed a notice of their intent to stand on the complaint, without further amendment. On July 18, 2003, upon the defendants’ unopposed motion, the Court issued a judgment on the merits against plaintiffs, and in favor of the Company and the officer and director defendants.

The original complaint charges Sagent and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Sagent is a provider of Real-time eBusiness Intelligence Solutions which purport to enable enterprises to win new customers and improve operational effectiveness. The Company develops, markets, and supports products and services that are designed to help businesses collect, analyze, understand, and act on customer and operational information in real-time. Sagent was founded in 1995 to develop and sell its DMS suite software. The complaint alleges that during the Class Period, defendants caused Sagent's shares to trade at artificially inflated levels through the issuance of false and misleading financial statements. As a result of this inflation, Sagent was able to complete a private placement offering of 9.1 million shares, raising net proceeds of$16.8 million on August 1, 2001. On November 15, 2001, just months after this offering was completed, Sagent revealed that its Q3 results, and possibly other quarters, were false when issued. The stock dropped below $.70 per share on this news. Then, on November 28, 2001, after the market closed, defendants revealed that Sagent's Q1-Q3 results had been materially misstated and would have to be restated.

COMPANY INFORMATION:

Sector: Technology
Industry: Software & Programming
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: SGNT
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. California
DOCKET #: 01-CV-4637
JUDGE: Hon. Phyllis J. Hamilton
DATE FILED: 11/30/2001
CLASS PERIOD START: 05/11/2001
CLASS PERIOD END: 11/28/2001
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Cauley Geller, Bowman Coates & Rudman, LLP (Boca Raton, FL)
    One Boca Place. 2255 Glades Road, Suite 421A, Cauley Geller, Bowman Coates & Rudman, LLP (Boca Raton, FL), FL 33431
    561.750.3000 561.750.3364 ·
  2. Law Offices of Alfred G. Yates
    519 Alleghany Bldg., 429 Forbes Avenue, Law Offices of Alfred G. Yates, PA 15219
    412.391.5164 ·
  3. Milberg Weiss Bershad Hynes & Lerach LLP (S.F., CA)
    100 Pine Street - Suite 2600, Milberg Weiss Bershad Hynes & Lerach LLP (S.F., CA), CA 94111
    415.288.4545 415.288.4534 ·
  4. Milberg Weiss Bershad Hynes & Lerach LLP (San Diego, CA)
    600 West Broadway, 1800 One America Plaza, Milberg Weiss Bershad Hynes & Lerach LLP (San Diego, CA), CA 92101
    800.449.4900 · support@milberg.com
  5. Schiffrin & Barroway LLP
    3 Bala Plaza E, Schiffrin & Barroway LLP, PA 19004
    610.667.7706 610.667.7056 · info@sbclasslaw.com
No Document Title Filing Date
COURT: N.D. California
DOCKET #: 01-CV-4637
JUDGE: Hon. Phyllis J. Hamilton
DATE FILED: 04/18/2002
CLASS PERIOD START: 05/11/2001
CLASS PERIOD END: 11/28/2001
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Law Offices of Alfred G. Yates
    519 Alleghany Bldg., 429 Forbes Avenue, Law Offices of Alfred G. Yates, PA 15219
    412.391.5164 ·
  2. Lerach Coughlin Stoia Geller Rudman & Robbin (San Francisco)
    100 Pine Street, Suite 2600, Lerach Coughlin Stoia Geller Rudman & Robbin (San Francisco), CA 94111
    415.288.4545 415.288.4534 · info@lerachlaw.com
  3. Lerach Coughlin Stoia Geller Rudman & Robbins LLP (San Diego)
    401 B Street, Suite 1700, Lerach Coughlin Stoia Geller Rudman & Robbins LLP (San Diego), CA 92101
    206.749.5544 206.749.9978 · info@lerachlaw.com
  4. Milberg Weiss Bershad Hynes & Lerach LLP (S.F., CA)
    100 Pine Street - Suite 2600, Milberg Weiss Bershad Hynes & Lerach LLP (S.F., CA), CA 94111
    415.288.4545 415.288.4534 ·
  5. Milberg Weiss Bershad Hynes & Lerach LLP (San Diego, CA)
    600 West Broadway, 1800 One America Plaza, Milberg Weiss Bershad Hynes & Lerach LLP (San Diego, CA), CA 92101
    800.449.4900 · support@milberg.com
No Document Title Filing Date
No Document Title Filing Date