Case Page

 

Case Status:    DISMISSED    
On or around 10/06/2003 (Other)

Filing Date: April 04, 2003

According to the docket, on June 1, 2006, the Court entered the Order signed by U.S. District Judge Gerard E. Lynch closing the case. According to the Order, in light of the settlement in DeMarco v. Robertson Stephens, Inc. and Paul Johnson, 03-cv-590, approved by this Court on 2/23/2006, the Clerk of the Court is respectfully directed to close out the six related cases.

In July 2003, the Court ordered that this case be transferred to the U.S. District Court for the Southern District of New York and is considered a related to case to 03-CV-590, a similar case against Robertson Stephens regarding Corvis Corporation.

The Complaint charges that Robertson Stephens and its analyst Paul Johnson issued materially false and misleading public statements, research reports and "Buy" recommendations on Redback and praised the acquisition of Siara Systems, Inc. ("Siara") by Redback while failing to disclose that Johnson owned Siara stock and that the acquisition would result in a multimillion windfall for Johnson. The Complaint alleges that, based on defendants' recommendations and failure to disclose defendant Johnson's conflicts of interest, Redback securities sold at artificially inflated prices during the Class Period. As a result, Plaintiff and the rest of the Class purchased their Redback shares at prices that were artificially inflated and were damagedthereby.

COMPANY INFORMATION:

Sector: Financial
Industry: Investment Services
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: RBAK
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: N.D. California
DOCKET #: 03-CV-1443
JUDGE: Hon. William Alsup
DATE FILED: 04/04/2003
CLASS PERIOD START: 06/14/1999
CLASS PERIOD END: 03/08/2000
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. 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
  4. 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
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