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Case Status:    DISMISSED    
On or around 11/04/2004 (Date of order of final judgment)

Filing Date: February 13, 2003

According to the Order, dated November 3, 2004, from U.S. District Judge William G. Young of the US District Court for the District of Massachusetts, the Motion to Dismiss filed by Parametric Technology Corporation and other Defendants is allowed. The next day, on November 4, the Court entered the Order dismissing the case.

The complaint charges that defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and Rule 10b-5 promulgated thereunder, by issuing a series of materially false and misleading statements to the market between October 19, 1999 and December 31, 2002. The complaint alleges that, throughout the Class Period, Parametric issued numerous statements and filed quarterly and annual reports with the SEC which described the Company's supposedly increasing revenues and financial performance. These statements were materially false and misleading when made, the complaint alleges, because the Company had overstated its revenue since fiscal 1999, in violation of generally accepted accounting principles and because the Company lacked adequate internal controls and was unable to accurately determine and report the Company's financial condition. On December 31, 2002, after the close of
regular trading, Parametric issued a press release announcing a "$20 to
$25 million of previously recognized maintenance revenue which should
have been deferred and recognized in fiscal 2003 and later periods."
Accordingly, the Company announced, it "expects to report a corresponding reduction in maintenance revenue in prior periods, primarily in fiscal year 2002." In reaction, on January 2, 2003, shares of Parametric closed at $2.19 per share, after hitting an intraday low of $1.95, as compared with a Class Period high of $32.88 per share, reached on December 16, 1999.

COMPANY INFORMATION:

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

SECURITIES INFORMATION:

Ticker Symbol: PMTC
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: D. Massachusetts
DOCKET #: 03-CV-10290
JUDGE: Hon. William G. Young
DATE FILED: 02/13/2003
CLASS PERIOD START: 10/19/1999
CLASS PERIOD END: 12/31/2002
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bernstein Liebhard & Lifshitz, LLP (New York)
  2. Cauley Geller Bowman Coates & Rudman LLP (Little Rock, AR)
  3. Chitwood & Harley LLP
  4. Goodkind Labaton Rudoff & Sucharow LLP
  5. Law Offices of Charles J. Piven, P.A.
  6. Milberg Weiss Bershad Hynes & Lerach LLP (New York, NY)
  7. Murray, Frank & Sailer LLP (Milwaukee)
  8. Schatz & Nobel, P.C.
  9. Spector Roseman & Kodroff (San Diego)
  10. Stull, Stull & Brody (New York)
  11. Weiss & Yourman (New York, NY)
No Document Title Filing Date
COURT: D. Massachusetts
DOCKET #: 03-CV-10290
JUDGE: Hon. William G. Young
DATE FILED: 09/15/2003
CLASS PERIOD START: 10/19/1999
CLASS PERIOD END: 12/31/2002
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. Milberg Weiss Bershad & Schulman LLP (New York)
    One Pennsylvania Plaza, 49th Floor, Milberg Weiss Bershad & Schulman LLP (New York), NY 10119
    212.594.5300 212.868.1229 · info@milbergweiss.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 ·
  4. Moulton & Gans LLP
    133 Federal Street, Moulton & Gans LLP, MA 2110
    617.369.7979 ·
  5. Robbins Umeda & Fink, LLP (San Diego)
    1010 Second Avenue, Suite 2360, Robbins Umeda & Fink, LLP (San Diego), CA 92101
    800-350-6003 · info@ruflaw.com
No Document Title Filing Date
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