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Case Status:    SETTLED
On or around 12/13/2005 (Date of order of final judgment)

Filing Date: January 04, 2002

On November 09, 2005, a motion for an Order on the disbursement of net settlement was filed. Soon after, an Order authorizing the disbursement of net settlement was entered on December 14, 2005.

As reported by the Company’s FORM 10-Q For The Quarterly Period Ended March 31, 2005, under the settlement, the Company paid $3,500,000 (all of which was covered by insurance) to settle all claims against it. A motion for reconsideration of the fee award filed by those plaintiffs' law firms whose fees were not included in the settlement was rejected by the court in February 2005.

According to the docket posted, on April 24, 2002, the Court entered the Order by U.S. District Judge Thomas P. Griesa granting the Order for consolidation of cases, and granting the motions for appointment of lead plaintiff and lead counsel. On June 28, 2002, a Consolidated Amended Class Action Complaint was filed, and on September 13, 2002, the defendants filed a motion to dismiss the amended complaint. On October 1, 2003, the Court entered the Order approving the withdrawal of defendants’ motion to dismiss. On May 4, 2004, the Court entered the preliminary order in connection with the settlement proceedings, and Judge Griesa certified the action as a class action.

The original complaint charges that defendants Globix and certain of its officers violated federal and state securities laws by, among other things, issuing false misleading statements regarding Globix's financial condition as well as its present and future business prospects. As alleged in the complaint, on November 16, 2000, in an effort to stabilize the price of Globix stock and to assuage investor concerns over Globix continuing as going concern, defendants set-forth the Company's business plan which stated in no uncertain terms that Globix would be fully funded to fiscal 2003 and thereafter cash flow positive. This sentiment was repeated in Globix's annual report filed on Form 10-K with the Securities Exchange Commission and numerous times thereafter in Company press releases and conference calls.

COMPANY INFORMATION:

Sector: Technology
Industry: Computer Services
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: GBIX
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: S.D. New York
DOCKET #: 02-CV-00082
JUDGE: Hon. Jed S. Rakoff
DATE FILED: 01/04/2002
CLASS PERIOD START: 11/16/2000
CLASS PERIOD END: 12/27/2001
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Abbey Gardy, LLP (New York)
    212 East 39th Street, Abbey Gardy, LLP (New York), NY 10016
    212.889.3700 · info@abbeygardy.com
  2. 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
  3. Bull & Lifshitz
    18 East 41st St., Bull & Lifshitz, NY 10017
    212.213.6222 212.213.9405 ·
  4. 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 ·
  5. Cohen Milstein Hausfeld & Toll PLLC (Seattle WA)
    701 Fifth Avenue, Suite 6860, Cohen Milstein Hausfeld & Toll PLLC (Seattle WA), WA 98014
    206.521.0080 206.521.0166 · lawinfo@cmht.com
  6. Law Offices of Charles J. Piven, P.A.
    World Trade Center-Baltimore,401 East Pratt Suite 2525, Law Offices of Charles J. Piven, P.A., MD 21202
    410.332.0030 · pivenlaw@erols.com
  7. Leo W. Desmond
    2161 Palm Beach Lakes Boulevard, Suite 204, Leo W. Desmond, FL 33409
    561.712.8000 561.712.8000 · stocklaw@bellsouth.net
  8. Levy & Levy

    ·
  9. Schiffrin & Barroway LLP
    3 Bala Plaza E, Schiffrin & Barroway LLP, PA 19004
    610.667.7706 610.667.7056 · info@sbclasslaw.com
  10. Stull, Stull & Brody (Los Angeles)
    10940 Wilshire Boulevard - Suite 2300, Stull, Stull & Brody (Los Angeles), CA 90024
    310.209.2468 ·
  11. Wechsler Harwood LLP
    488 Madison Avenue 8th Floor, Wechsler Harwood LLP, NY 10022
    212.935.7400 · info@whhf.com
  12. 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: S.D. New York
DOCKET #: 02-CV-00082
JUDGE: Hon. Jed S. Rakoff
DATE FILED: 06/28/2002
CLASS PERIOD START: 11/16/2000
CLASS PERIOD END: 12/27/2001
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Cohen, Milstein, Hausfeld & Toll, P.L.L.C. (New York, NY)
    825 Third Avenue - 30th Floor, Cohen, Milstein, Hausfeld & Toll, P.L.L.C. (New York, NY), NY 10022
    212.838.7797 212.838.7745 · lawinfo@cmht.com
  2. Cohen, Milstein, Hausfeld & Toll, P.L.L.C. (Washington, DC)
    1100 New York Avenue, N.W., Suite 500, West Tower, Cohen, Milstein, Hausfeld & Toll, P.L.L.C. (Washington, DC), DC 20005
    202.408.4600 202.408.4699 · lawinfo@cmht.com
No Document Title Filing Date