On December 2, 2003, the Court entered the Order placing this case on suspense. On September 13, 2005, a Notice of Voluntary Dismissal was filed by the lead plaintiffs. According to the Notice, the lead plaintiffs in this action dismiss the case with prejudice.
On February 17, 2004, the U.S. District Court for the District of Massachusetts granted the motion to transfer the case from the U.S. District Court for the District of Massachusetts to the Southern District of New York as an action related to In re Credit Suisse First Boston Corp. (Atmel Corporation) Analyst Securities Litigation, maintained under Master File No. 03-CV-2156.
The complaint alleges that the defendants violated section 10(b) of
the Securities Exchange Act, and Rule 10b-5 promulgated thereunder, by
issuing favorable research reports on Atmel that were materially false
or misleading by failing to disclose conflicts of interest of Credit
Suisse, and in particular the practice of Credit Suisse to gain
lucrative investment banking business by providing coverage and issuing
favorable research reports on existing or prospective investment banking
customers. According to an administrative complaint filed by the
Secretary of the Commonwealth of Massachusetts, CSFB purposely misled
investors by disseminating into the marketplace fraudulent material
misstatements of fact in analyst reports.
Several similar purported class action complaints were also filed in the U.S. District Court for the Southern District of New York.