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Case Status:    DISMISSED    
On or around 12/30/2002 (Date of order of final judgment)

Filing Date: April 18, 2002

According to a press release dated January 7, 2003, following its appointment as Lead Plaintiff by the United States District Court for the District of Connecticut in Berger v. Gerber Scientific, Inc., et al (02-CV-687), and, after a thorough investigation of the facts, the Louisiana Municipal Police Employees' Retirement System has determined that the claims against Gerber Scientific, Inc. and its officers and directors should be dismissed. Lead Plaintiff and Lead Counsel, the law firm of Bernstein Litowitz Berger & Grossmann LLP, believed that this course of action was consistent with their fiduciary responsibilities under the Private Securities Litigation Reform Act of 1995. Accordingly, on December 17, 2002, the Louisiana Municipal Police Employees' Retirement System, through its counsel, entered into an agreement with the defendants to voluntarily dismiss this action, without prejudice. On December 24, 2002, the Hon. Janet C. Hall approved the voluntary dismissal and ordered that the action be dismissed without prejudice.

The Complaint alleges that defendants violated Sections 10(b) and 20(a) of
the Securities Exchange Act of 1934, and Rule 10b-5 promulgated thereunder, by
issuing a series of material misrepresentations to the market between May 27,
1999 and April 12, 2002, thereby artificially inflating the price of Gerber
Scientific securities. Throughout the Class Period, as alleged in the
complaint, defendants issued statements regarding Gerber Scientific's quarterly
and annual financial performance and filed reports confirming such performance
with the United States Securities and Exchange Commission ("SEC"). The
complaint alleges that these statements were materially false and misleading
because, among other things, (i) the Company was employing improper inventory
and reserve accounting practices in violation of Generally Accepted Accounting
Principles. As a result, the Company's operating results were materially
misrepresented and overstated; (ii) the Company lacked adequate internal
controls and was therefore unable to ascertain the true financial condition of
the Company; and (iii) based on the foregoing, defendants' statements
concerning the prospects of Gerber Scientific were lacking in a reasonable
basis at all times. On April 15, 2002, before the market opened, Gerber Scientific announced that
it expected to take a $12 million pre-tax charge in its fiscal fourth quarter,
the period ending April 30, 2002. Additionally, Gerber Scientific announced
that, in response to an investigation by the SEC into its inventory and reserve
accounting practices, it was conducting an internal review of its financial
reporting for the period January 1, 1998 through April 30, 2002. The Company
further stated that its investigation is ongoing and once it has been
completed, the Company will likely restate its financial results for the
appropriate periods. In response to the Company's announcements, the price of
Gerber Scientific common stock declined to $6.99 per share, a decline of more
than 71% from a Class Period high of $24.50 per share, reached on July 6, 1999.


Sector: Technology
Industry: Computer Peripherals
Headquarters: United States


Ticker Symbol: GRB
Company Market: New York 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: D. Connecticut
DOCKET #: 02-CV-00687
JUDGE: Hon. Janet C. Hall
DATE FILED: 04/18/2002
CLASS PERIOD END: 04/12/2002
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