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Amerada Hess Corporation

Case Summary

Amerada Hess Corporation Securities Litigation

Case Summary

Case Status:    SETTLED
On or around 10/05/2006 (Ongoing date of last review)

Filing Date: July 09, 2002

On April 16, 2007 Judge Peter G. Sheridan of the United States District Court for the District of New Jersey signed a final order and judgment approving a settlement amount of $9,000,000 to eligible members of the class and terminating the case. Judge Sheridan also approved attorney's fees in the amount of $311,375.46.

According to the Company’s Form 10-K for the fiscal year ended December 31, 2005, tn April 2003, the Registrant and the other defendants filed a motion to dismiss for failure to state a claim and failure to plead fraud with particularity. On March 31, 2004, the court granted the defendant’s motion to dismiss the complaint. The plaintiffs were granted leave to file an amended complaint. Plaintiffs filed an amended complaint in June 2004. Defendants moved to dismiss the amended complaint. In June 2005, this motion was denied.

The original complaint alleges securities violations involved with the acquisition of Triton Energy Ltd. Specifically, the complaint alleges that Amerada began secret discussions in early 2001 to acquire Triton for more than $3 billion. The complaint further alleges that top insiders at Amerada who were aware of the proposed deal then sold off huge amounts of company stock to avoid losses in connection with the subsequent stock decline when the Triton deal was disclosed.

The complaint furhter alleges that in early July of 2001, Amerada agreed to acquire Triton for $45 a share, more than a 50% premium over Triton's closing price of $29.91. During that month, Amerada's stock steadily declined and by the time the deal was completed and Amerada announced it was borrowing $2.5 billion to finance the deal in September, the stock fell to a new low of $59.09 a share.

Company & Securities Information

Defendant: Amerada Hess Corporation

COMPANY INFORMATION:

Sector: Energy
Industry: Oil & Gas - Integrated
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: AHC
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.

First Identified Complaint

Carpenters Pension Trust for Southern California, et al. v. Amerada Hess Corporation, et al.

COURT: D. New Jersey
DOCKET #: 02-CV-03359
JUDGE: Hon. Joseph A. Greenaway, Jr.
DATE FILED: 07/09/2002
CLASS PERIOD START: 02/09/2001
CLASS PERIOD END: 07/11/2001
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. 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 ·
  2. 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
  3. Milberg Weiss Bershad Hynes & Lerach LLP (New York, NY)
    One Pennsylvania Plaza, Milberg Weiss Bershad Hynes & Lerach LLP (New York, NY), NY 10119-1065
    212.594.5300 ·
First Identified Complaint (FIC) Filings:
No Document Title Filing Date
1 Complaint For Violation Of The Federal Securities Laws 07/08/2002

Reference Complaint

In Re: Amerada Hess Corporation Securities Litigation

COURT: D. New Jersey
DOCKET #: 02-CV-03359
JUDGE: Hon. Joseph A. Greenaway, Jr.
DATE FILED: 06/28/2005
CLASS PERIOD START: 02/09/2001
CLASS PERIOD END: 07/11/2001
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Cohn, Lifland, Pearlman, Herrmann & Knopf
    Park 80 Plaza West-One, Cohn, Lifland, Pearlman, Herrmann & Knopf, NJ 7663
    201845.9600 · info@njlawfirm.com
  2. Lerach Coughlin Stoia Geller Rudman & Robbins LLP (San Diego)
    655 West Broadway, Suite 1900, Lerach Coughlin Stoia Geller Rudman & Robbins LLP (San Diego), CA 92101
    619.231.1058 619.231.7423 ·
  3. Milberg Weiss Bershad Hynes & Lerach LLP (New York, NY)
    One Pennsylvania Plaza, Milberg Weiss Bershad Hynes & Lerach LLP (New York, NY), NY 10119-1065
    212.594.5300 ·
Reference Complaint (REF) Filings:
No Document Title Filing Date
1 Corrected First Amended Consolidated Complaint For Violations Of The Federal Securities Laws 03/25/2003
2 Plaintiffs' Motion For Class Certification 08/31/2005
3 Notice of Pendency And Proposed Settlement Of Class Action 01/30/2007
4 Order Preliminarily Approving Settlement And Providing For Notice 01/30/2007
5 U.S. District Court Civil Docket 04/16/2007
6 Order Awarding Plaintiff's Counsel's Attorney's Fees And Reimbursement Of Expenses 04/16/2007
7 Final Judgment And Order Of Dismissal With Prejudice 04/16/2007
 
 

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