Salomon Smith Barney, Inc./Citigroup : Global Crossing Ltd. Securities Litigation
On or around 12/07/2006 (Other)
Filing Date: May 24, 2002
On June 04, 2002, an order of the initial pre-trial conference was entered. Just as quickly, a notice of motion to consolidate cases, for the appointment of lead plaintiff and the approval of lead counsel was filed on July 12, 2002. On August 01, 2002, a stipulation and order on the extension of the defendants’ time to answer this class action complaint was entered. Finally, an order of dismissing several cases was entered on December 21, 2004.
According to a Press Release dated 8/2/02, this action arises as a result of the issuance by the Defendants of analyst reports regarding Global Crossing, which recommended the purchase of Global Crossing securities while failing to disclose significant, material conflicts of interest which they had, in light of their use of Grubman's reputation and his Global Crossing analyst reports, to obtain investment banking business for Salomon.
Company & Securities Information
Defendant: Global Crossing Ltd.
Industry: Money Center Banks
Headquarters: United States
Ticker Symbol: GBLXQ.PK
Company Market: OTC-BB
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
Tim Rolseth, et al. v. Salomon Smith Barney, Inc., et al.