Case Page

 

Case Status:    DISMISSED    
On or around 04/17/2003 (Date of order of final judgment)

Filing Date: January 08, 2002

On October 31, 2002, an Order granting motion to dismiss complaint was entered and the case is closed.

According to the Company’s FORM 10-K For the fiscal year ended September 30, 2002, on August 12, 2002, the Company filed a Motion to Dismiss the Amended Complaint. On November 14, 2002, the Court dismissed, with prejudice, the class action lawsuit.

As previously disclosed in the Company’s FORM 10-Q for the quarterly period ended June 30, 2002, on April 29, 2002, four similar class actions were voluntarily dismissed without prejudice. In the Baldwin Action, the sole remaining proceeding, on May 13, 2002, Rica Foods, Inc. filed a Motion to Dismiss Complaint and Supporting Memorandum of Law ("Motion to Dismiss") seeking dismissal of the Complaint on numerous grounds and requesting the Court to strike all of Baldwin's class action allegations. On July 15, 2002, the Court dismissed the Individual Defendants named in the Initial Baldwin Complaint, without prejudice. On July 24, 2002, the Court granted Rica Foods' Motion to Dismiss, without prejudice. On August 7, 2002 Baldwin filed an Amended Complaint against Rica Foods and the Individual Defendants. On August 12, 2002, Rica Foods filed a Motion to Dismiss the Amended Complaint. A ruling on the Motion to Dismiss the Amended Complaint is currently pending and discovery has been stayed until the Court rules on Rica Foods' Motion to Dismiss the Amended Complaint.

The original Complaint charges defendants with violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. The
complaint alleges, among other things that throughout the Class Period defendants filed documents with the SEC, which failed to disclose that Rica was not in compliance with the credit agreement entered into with Pacific Life Insurance Company on January 16, 2001. The Complaint alleges that defendants knew that Rica's SEC filings were false and misleading. The Complaint further alleges that defendants' misrepresentations caused the price of Rica common stock to be artificially inflated throughout the Class Period.

COMPANY INFORMATION:

Sector: Consumer Non-Cyclical
Industry: Food Processing
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: RCF
Company Market: American SE
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. Florida
DOCKET #: 02-CV-20070
JUDGE: Hon. Paul C. Huck
DATE FILED: 01/08/2002
CLASS PERIOD START: 01/16/2001
CLASS PERIOD END: 12/28/2001
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. Brian Felgoise
    230 South Broad Street, Suite 404 , Brian Felgoise, PA 19102
    215.735.6810 215/735.5185. ·
  3. 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
  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. 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
  6. Leo W. Desmond
    2161 Palm Beach Lakes Boulevard, Suite 204, Leo W. Desmond, FL 33409
    561.712.8000 561.712.8000 · stocklaw@bellsouth.net
  7. Schiffrin & Barroway LLP
    3 Bala Plaza E, Schiffrin & Barroway LLP, PA 19004
    610.667.7706 610.667.7056 · info@sbclasslaw.com
  8. Wolf Haldenstein Adler Freeman & Herz LLP (New York)
    270 Madison Avenue, Wolf Haldenstein Adler Freeman & Herz LLP (New York), NY 10016
    212.545.4600 212.686.0114 · newyork@whafh.com
No Document Title Filing Date
COURT: S.D. Florida
DOCKET #: 02-CV-20070
JUDGE: Hon. Paul C. Huck
DATE FILED: 08/07/2002
CLASS PERIOD START: 01/16/2001
CLASS PERIOD END: 12/28/2001
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. Leesfield, Leighton, Rubio and Mahfood, P.A.
    2350 South Dixie Highway, Leesfield, Leighton, Rubio and Mahfood, P.A., FL 33133
    305/854.4900 305/854.8266 · Info@Leesfield.com
No Document Title Filing Date