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Case Status:    SETTLED
On or around 02/28/2006 (Date of order of final judgment)

Filing Date: January 27, 2003

According to the docket posted, on February 28, 2006, the Court entered the Final Judgment and Order of Dismissal signed by U.S. District Judge Gerard E. Lynch. The settlement was approved. Further, on March 20, 2006, the Court further entered an Order awarding attorneys' fees in the amount of $775,000 from the Settlement Fund and reimbursement of expenses in an aggregate amount of $119,578.17 together with the interest earned.

By the Notice of Class Action, dated December 8, 2005, a hearing shall be held on February 10, 2006, to determine whether the proposed settlement, in the amount of $3,100,000, of the claims asserted by plaintiffs in this consolidated class action against Defendants Robertson Stephens, Inc. and Paul Johnson is fair, reasonable and adequate, and should be finally approved by the Court.

In a press release dated January 20, 2005, on January 19, 2005, U.S. District Judge Gerard E. Lynch certified a class of plaintiffs in a securities fraud lawsuit against investment bank Robertson Stephens, Inc. (currently a Bank of America unit) and Robertson Stephens managing director and senior equity research analyst Paul Johnson. Pomerantz Haudek Block Grossman & Gross LLP is co-lead counsel to the newly certified plaintiff class. Patrick V. Dahlstrom of Pomerantz's Chicago office briefed and argued the class certification motion. In his class certification decision, Judge Lynch declared that class counsel had "ably and zealously represented the interests of the class."

On July 28, 2003, plaintiffs filed an amended complaint with an extended class period. Defendants moved to dismiss the amended complaint and plaintiffs filed an opposition to that motion in September 2003. On January 8, 2004, the Court denied in part and granted in part defendants' motions to dismiss. The Court denied defendants' motions to dismiss plaintiffs' securities fraud claims arising under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and granted defendants' motions to dismiss insider trading claims.

The original complaint alleges that defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 by issuing false and misleading analyst reports on Corvis, a maker of optical networking equipment, that contradicted defendant Johnson's privately held beliefs. As a result of defendants' false and misleading statements, the market price of Corvis common stock was artificially inflated, maintained or stabilized during the Class Period. On January 9, 2003, the Securities and Exchange Commission ("SEC") and the National Association of Securities Dealers charged Paul Johnson for issuing "Buy" ratings on Corvis to the public while privately advising a group of Robertson Stephens limited partnerships (in which Johnson had invested) to sell their Corvis shares. The SEC complaint also charged Johnson with issuing positive research reports on Redback Networks, Inc. and Sycamore Networks, Inc. in which Johnson praised proposed acquisitions by Redback and Sycamore of two private companies in which Johnson had undisclosed investments.

Note: The putative class action complaints filed in the Northern District of California have been transferred to the Southern District of New York for all purposes. Orders signed by Judge Maxine M. Chesney about May 2003.

COMPANY INFORMATION:

Sector: Financial
Industry: Investment Services
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: CORV
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: S.D. New York
DOCKET #: 03-CV-0590
JUDGE: Hon. Gerard E Lynch
DATE FILED: 01/27/2003
CLASS PERIOD START: 08/22/2000
CLASS PERIOD END: 01/29/2001
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Cauley Geller Bowman Coates & Rudman, LLP (New York)
    200 Broadhollow, Suite 406, Cauley Geller Bowman Coates & Rudman, LLP (New York), NY 11747
    631.367.7100 631.367.1173 ·
  2. Glancy Binkow & GoldBerg LLP
    1925 Century Park East, Suite 2100, Glancy Binkow & GoldBerg LLP, CA 90067
    310-201-9150 · info@glancylaw.com
  3. 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
  4. Pomerantz LLP (New York)
    600 Third Avenue, Pomerantz LLP (New York), NY 10016
    212.661.1100 212.661.8665 · info@pomerantzlaw.com/
  5. Stull, Stull & Brody (Los Angeles)
    10940 Wilshire Boulevard - Suite 2300, Stull, Stull & Brody (Los Angeles), CA 90024
    310.209.2468 ·
  6. Weiss & Yourman (Los Angeles, CA)
    10940 Wilshire Blvd - 24th Floor, Weiss & Yourman (Los Angeles, CA), CA 90024
    310.208.2800 310.209.2348 · info@wyca.com
No Document Title Filing Date
COURT: S.D. New York
DOCKET #: 03-CV-0590
JUDGE: Hon. Gerard E Lynch
DATE FILED: 07/28/2003
CLASS PERIOD START: 08/22/2000
CLASS PERIOD END: 05/25/2001
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Murray, Frank & Sailer LLP
    275 Madison Ave 34th Flr, Murray, Frank & Sailer LLP, NY 10016
    212.682.1818 212.682.1892 · email@murrayfrank.com
  2. Pomerantz LLP (New York)
    600 Third Avenue, Pomerantz LLP (New York), NY 10016
    212.661.1100 212.661.8665 · info@pomerantzlaw.com/
  3. Rabin, Murray & Frank LLP
    275 Madison Avenue, Rabin, Murray & Frank LLP, NY 10016
    212-682-1818 · info@rabinlaw.com
  4. Weiss & Lurie (New York, NY)
    The French Building, 551 Fifth Ave., Suite 1600, Weiss & Lurie (New York, NY), NY 10126
    212.682.3025 212.682.3010 · info@wyca.com
  5. Weiss & Yourman (Los Angeles, CA)
    10940 Wilshire Blvd - 24th Floor, Weiss & Yourman (Los Angeles, CA), CA 90024
    310.208.2800 310.209.2348 · info@wyca.com
  6. Weiss & Yourman (New York, NY)
    The French Building, 551 Fifth Ave., Suite 1600, Weiss & Yourman (New York, NY), NY 10126
    212.682.3025 212.682.3010 · info@wyca.com
No Document Title Filing Date
No Document Title Filing Date