Caminus Corporation is a developer of energy trading software.

The original Complaint alleges 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 material misrepresentations to the market between February 12, 2002 and July 8, 2002, thereby artificially inflating the price of Caminus' securities.

Specifically, as alleged in the Complaint, Defendants issued numerous statements regarding the Company's future prospects and describing how demand for the Company's products continued to be strong. As alleged in the Complaint, these statements were each materially false and misleading because Defendants failed to disclose and misrepresented, among other things, the following material adverse facts which were known to Defendants or recklessly disregarded by them: (a) that the Company's business was coming under increasing pressure as many of Caminus' clients were deferring product purchases and/or determining not to proceed at all with planned purchases; (b) that the Company's strategic consulting business was not performing to the Company's expectations and would not be able to contribute the revenues and earnings that were anticipated; and (c) that the market for Caminus' products was quickly deteriorating as many energy companies were being heavily scrutinized by regulatory authorities, experiencing declining financial condition and grappling to fix the deficiencies in their respective businesses. Moreover, energy trading - an area where Caminus provided software systems - was in steep decline as many of the major players exited the field amid scandal. On July 8, 2002, the last day of the Class Period, Caminus shocked the market when it announced that revenues for the second quarter would be $7 million less than previously promised and that the Company now would experience a loss, as compared to the $0.03 per share profit previously represented. The Company attributed the earnings shortfall to "delays in timing of several sizable software deals ...." The market's reaction to this announcement was immediate and punitive, with shares of Caminus common stock falling from $5.95 per share to $2.99 per share, on extremely heavy trading volume.

By the Summary Notice dated June 29, 2005, a hearing was scheduled for October 7, 2005, to determine whether an order should be entered: (i) finally approving the proposed settlement of the claims asserted by Plaintiffs in the captioned consolidated class action against Defendants, for the sum of $1,900,000 in cash pursuant to the terms set forth in the Stipulation and Agreement of Settlement dated as of June 6, 2005; (ii) dismissing the Litigation with prejudice as to the Defendants; (iii) approving the Plan of Allocation of the Net Settlement Fund; and (iv) awarding fees and reimbursement of expenses to Counsel for Plaintiffs and the Settlement Class.

According to the docket posted, on October 14, 2005, the Court entered the Final Judgment and Order of Dismissal signed by U.S. District Judge John G. Koeltl. The action was settled.