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Case Status:    SETTLED
On or around 08/17/2006 (Date of order of final judgment)

Filing Date: August 26, 2002

On August 17, 2006, the Court entered the Judgment and Order of Dismissal settling the action. A Notice of Appeal was filed from the Judgment and later withdrawn

According to the Notice of Pendency dated May 24, 2006, the proposed settlement is in the amount of $74,750,000 plus interest. A Settlement Hearing is scheduled for August 11, 2006.

On January 31, 2003, the Court entered the Order consolidating several actions under re Salomon Analyst AT&T Litigation, 02-CV-6801 (BSJ). On October 15, 2003, an Amended Complaint was filed. On October 15, 2003, an Amended Complaint was filed, and the defendants responded by filing a motion to dismiss the Amended Complaint on December 23, 2003. On December 3, 2004, the Court entered the Opinion and Order #90955 granting in part and denying in part the motion to dismiss the Amended Complaint. On January 25, 2005, the defendants again filed a motion to dismiss. On November 18, 2005, the Court entered the Order stating that the defendants' renewed motion to dismiss the complaint and plaintiffs' motion for leave to file sur-reply are deemed withdrawn, without prejudice to its reinstatement if the settlement is for any reason not consummated. On April 7, 2006, the Court entered the Order preliminarily approving settlement and scheduling a fairness hearing. On April 5, 2006, the Parties' Proposed Stipulation of Settlement was filed.

The complaint alleges that defendants recommended the purchase of AT&T common stock without regard to the factual basis and without disclosing its conflicts of interest. When issuing the analyst report, the Defendants Salomon and Grubman failed to disclose significant, material conflicts of interest, including the following: that, in an explicit or implicit quid pro quo, Salomon was granted a lucrative role in the April 2000 issuance of an AT&T Wireless tracking stock, after Grubman, at AT&T's request, passed to Grubman by Weill, raised his recommendation of AT&T in November 1999 from "neutral" to "buy."

COMPANY INFORMATION:

Sector: Financial
Industry: Money Center Banks
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: T
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: S.D. New York
DOCKET #: 02-CV-06801
JUDGE: Hon. Lewis A. Kaplan
DATE FILED: 08/26/2002
CLASS PERIOD START: 11/29/1999
CLASS PERIOD END: 08/22/2002
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Law Offices of Marc S. Henzel (Bala Cynwyd)
    273 Montgomery Ave. Suite 202, Law Offices of Marc S. Henzel (Bala Cynwyd), PA 19004
    610.660.8000 610.660.8080 · securitiesfraud@comcast.net
  2. Wolf Haldenstein Adler Freeman & Herz LLP (New York)
    270 Madison Avenue, Wolf Haldenstein Adler Freeman & Herz LLP (New York), NY 10016
    212.545.4600 212.686.0114 · newyork@whafh.com
No Document Title Filing Date
COURT: S.D. New York
DOCKET #: 02-CV-06801
JUDGE: Hon. Lewis A. Kaplan
DATE FILED: 10/15/2003
CLASS PERIOD START: 11/29/1999
CLASS PERIOD END: 08/22/2002
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Pomerantz LLP (New York)
    600 Third Avenue, Pomerantz LLP (New York), NY 10016
    212.661.1100 212.661.8665 · info@pomerantzlaw.com/
No Document Title Filing Date
No Document Title Filing Date