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Case Status:    SETTLED
On or around 01/04/2002 (Date of order of final judgment)

Filing Date: December 02, 1997

According to the Notice of Settlement dated October 17, 2001, and the docket dated April 14, 2003, the parties reached a settlement agreement. The settlement creates a fund in the principal amount of $4 million in cash and 8 million freely tradeable shares of SGI common stock and will include interest that accrues on the fund prior to distribution. On January 03, 2002, the Court granted motion for approval of plan of allocation and issued the Final Judgment and Order dismissing the case with prejudice.

The original Complaint alleges that defendants made false and misleading statements about Silicon Graphics' business and financial results, including the Company's results for the fourth quarter of 1997, in order to artificially inflate the price of Silicon Graphics stock to facilitate the exchange of a new Silicon Graphics convertible security for $200 million of outstanding zero coupon debentures, while the defendants sold 286,584 shares of their Silicon Graphics' stock, pocketing $7.4 million in illegal insider-trading proceeds. After Silicon Graphics successfully completed its exchange of convertible debt, the Company revealed that its strong fourth quarter fiscal 1997 results had been the result of pulling orders in from future quarters and that first quarter fiscal 1998 would suffer a huge revenue shortfall as would later quarters. The Company also announced that Silicon Graphics CEO and Chairman, Edward McCraken, had been fired and that the Company would be restructuring its organization. These revelations resulted in Silicon Graphics' stock price dropping to less than $14 from its Class Period high of $30-5/16.

COMPANY INFORMATION:

Sector: Technology
Industry: Computer Hardware
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: SGI
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: N.D. California
DOCKET #: 97-CV-4362
JUDGE: Hon. Charles A. Legge
DATE FILED: 12/02/1997
CLASS PERIOD START: 07/24/1997
CLASS PERIOD END: 10/06/1997
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Barrack, Rodos & Bacine (San Diego - former)
    402 West Broadway , Barrack, Rodos & Bacine (San Diego - former), CA 92101
    619.230.0800 619.230.1874 · info@barrack.com
  2. Chitwood & Harley LLP
    1230 Peachtree Street, N.E., 2300 Promenade II, Chitwood & Harley LLP, GA 30309
    888.873.3999 404.873.4476 · info@chitwoodlaw.com
  3. Wolf Popper, LLP
    845 Third Avenue, Wolf Popper, LLP, NY 10022-6689
    877.370.7703 212.486.2093 · IRRep@wolfpopper.com
No Document Title Filing Date
COURT: N.D. California
DOCKET #: 97-CV-4362
JUDGE: Hon. Charles A. Legge
DATE FILED: 07/13/1998
CLASS PERIOD START: 07/24/1997
CLASS PERIOD END: 10/06/1997
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Barrack, Rodos & Bacine (San Diego - former)
    402 West Broadway , Barrack, Rodos & Bacine (San Diego - former), CA 92101
    619.230.0800 619.230.1874 · info@barrack.com
  2. Milberg Weiss Bershad Hynes & Lerach LLP (S.F., CA)
    100 Pine Street - Suite 2600, Milberg Weiss Bershad Hynes & Lerach LLP (S.F., CA), CA 94111
    415.288.4545 415.288.4534 ·
  3. Milberg Weiss Bershad Hynes & Lerach LLP (San Diego, CA)
    600 West Broadway, 1800 One America Plaza, Milberg Weiss Bershad Hynes & Lerach LLP (San Diego, CA), CA 92101
    800.449.4900 · support@milberg.com
  4. Wolf Popper, LLP
    845 Third Avenue, Wolf Popper, LLP, NY 10022-6689
    877.370.7703 212.486.2093 · IRRep@wolfpopper.com
No Document Title Filing Date
No Document Title Filing Date