Case Page

 

Case Status:    DISMISSED    
On or around 07/02/2008 (Stipulation and order of dismissal (voluntary dismissal))

Filing Date: April 09, 2003

The complaint alleges that defendants violated section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the Securities and Exchange Commission. In particular, the complaint
alleges that defendants issued and maintained a "Buy" recommendation on Lantronix securities without any rational economic basis; failed to disclose that they were issuing and maintaining these recommendations to
obtain investment banking business; and concealed significant, material conflicts of interest that prevented them from providing independent and objective analysis. The Complaint alleges that as a result of these false and misleading statements and omissions of material fact, the price of Lantronix securities was artificially inflated throughout the Class Period causing plaintiff and the other members of the Class to suffer damages.

On April 12, 2004, the Court entered the Order captioning the case In Re Credit Suisse First Boston Corp. (Lantronix, Inc.) Analyst Securities Litigation, and appointing The Powers Group as Lead Plaintiff and approving Powers Group's selection of the law firms of Rabin, Murray & Frank L.L.P. and Weiss & Yourman as Co-Lead Counsel. On July 22, 2005, a Consolidated Amended Complaint was filed, and the defendants responded by filing a motion to dismiss the Consolidated Amended Complaint. On December 16, 2005, the Court entered the Order denying the defendants’ motion to dismiss. On April 11, 2006, the plaintiffs filed a motion to certify the class. On November 8, 2006, the Court entered the Order granting the plaintiffs’ motion for class certification.

On February 8, 2007, the defendants filed a motion for reconsideration of the Order granting class certification and to decertify the class.

According to a press release dated February 27, 2008, a federal judge on Tuesday decertified a class of plaintiffs in a lawsuit against Credit Suisse First Boston over allegedly misleading statements made by one of its former analysts, ruling that the plaintiffs could not show that the statements had caused their losses.

On June 10, 2008, the action was voluntarily dismissed with prejudice with prejudice, with each side bearing its own costs.

COMPANY INFORMATION:

Sector: Financial
Industry: Money Center Banks
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: LTRX
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-02467
JUDGE: Hon. Harold Baer Jr.
DATE FILED: 04/09/2003
CLASS PERIOD START: 08/30/2000
CLASS PERIOD END: 09/11/2002
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Law Offices of Bruce G. Murphy
    265 Llwyds Lane, Law Offices of Bruce G. Murphy, FL 32963
    561.231.4202 ·
  2. Rabin, Murray & Frank LLP
    275 Madison Avenue, Rabin, Murray & Frank LLP, NY 10016
    212-682-1818 · info@rabinlaw.com
No Document Title Filing Date
COURT: S.D. New York
DOCKET #: 03-CV-02467
JUDGE: Hon. Harold Baer Jr.
DATE FILED: 07/22/2005
CLASS PERIOD START: 08/30/2000
CLASS PERIOD END: 09/11/2002
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Rabin, Murray & Frank LLP
    275 Madison Avenue, Rabin, Murray & Frank LLP, NY 10016
    212-682-1818 · info@rabinlaw.com
  2. 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