Case Page

 

Case Status:    SETTLED
On or around 12/20/2004 (Date of order of final judgment)

Filing Date: July 03, 2002

According to the Company’s FORM 10-K for the fiscal year ended December 31, 2004, beginning on July 3, 2002, several purported class action shareholder complaints were filed in the United States District Court for the Central District of California against the Company and several of its officers and directors. The actions were subsequently consolidated and a consolidated amended complaint was filed purportedly brought on behalf of purchasers of common stock of SeeBeyond between December 10, 2001 and May 7, 2002. The complaint generally alleged that defendants made false statements about SeeBeyond’s operating results and business, while concealing material information. The litigation was settled for $13.1 million, which was paid by the Company’s insurers. The settlement provided for a complete dismissal of all claims against SeeBeyond and the individual defendants.

The original Complaint charges SeeBeyond and certain of its officers and directors with violations of federal securities laws. Among other things, plaintiff claims that defendants' material omissions and the dissemination of materially false and misleading statements regarding SeeBeyond's business prospects, revenue and earnings caused SeeBeyond's stock price to become artificially inflated, inflicting damages on investors. The Complaint alleges that SeeBeyond overstated the demand for its software products and failed to disclose that the Company had improperly recognized certain revenues.

COMPANY INFORMATION:

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

SECURITIES INFORMATION:

Ticker Symbol: SBYN
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: C.D. California
DOCKET #: 02-CV-5330
JUDGE: Hon. Dean D. Pregerson
DATE FILED: 07/03/2002
CLASS PERIOD START: 12/10/2001
CLASS PERIOD END: 04/22/2002
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. 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
  3. 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: C.D. California
DOCKET #: 02-CV-5330
JUDGE: Hon. Dean D. Pregerson
DATE FILED: 01/15/2004
CLASS PERIOD START: 12/10/2001
CLASS PERIOD END: 04/22/2002
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bernstein Liebhard & Lifshitz, LLP (New York)
    10 E. 40th Street, 22nd Floor, Bernstein Liebhard & Lifshitz, LLP (New York), NY 10016
    800.217.1522 · info@bernlieb.com
  2. Glancy Binkow & GoldBerg LLP
    1925 Century Park East, Suite 2100, Glancy Binkow & GoldBerg LLP, CA 90067
    310-201-9150 · info@glancylaw.com
  3. Wilson Sonsini Goodrich & Rosati. Professional Corporation
    650 Page Mill Road, Wilson Sonsini Goodrich & Rosati. Professional Corporation, CA 94304-1050
    650.493.9300 650.565.5100 ·
No Document Title Filing Date
No Document Title Filing Date