TippingPoint Technologies, Inc. Securities Litigation
On or around 10/06/2009 (Date of order of final judgment)
Filing Date: December 05, 2001
Other actions have been filed making similar allegations regarding the IPOs of more than 300 other companies. All of these have been coordinated for pretrial purposes as In re Initial Public Offering Securities Litigation, Civil Action No. 21-MC-92.
The original complaint charges defendants with violations of Sections 11,12 and 15 of the Securities Act of 1933 for issuing a registration statement and prospectus (collectively, the "Prospectus") that contained material misrepresentations and/or omissions. The Prospectus was issued in connection with the Netpliance IPO. The complaint alleges that the Prospectus was false and misleading because it failed to disclose that the Underwriter Defendants entered into unlawful tie-in and other arrangements and agreements with customers, which manipulated the demand for and stock price of Netpliance shares. The Underwriter Defendants induced their customers to purchase shares in the Netpliance IPO as a quid pro quo for receiving favorable IPO allocations in the "hot" IPOs of other technology companies. In this manner, defendants created a false demand for the Company's shares on the IPO and artificially inflated its stock price in the after market.
Company & Securities Information
Defendant: TippingPoint Technologies, Inc.
Industry: Computer Services
Headquarters: United States
Ticker Symbol: TPTI
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
Brian Levey, et al. v. TippingPoint Technologies, Inc., et al.