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Case Status:    SETTLED
On or around 06/08/2006 (Date of order of final judgment)

Filing Date: May 21, 2003

By the Order and Final Judgment entered on June 8, 2006, the settlement was approved and the action was dismissed with prejudice.

According to the Notice of Pendency and Proposed Settlement of Class dated March 24, 2006, a settlement fund in the amount of $8 million has been established.

As summarized by same Notice, on October 24, 2003, the Court entered an order consolidating the securities cases for all purposes and ap-pointing Robert Ahearn and Almar Sales Company as lead plaintiffs and its attorneys, Shapiro Haber & Urmy LLPand Berger & Montague, P.C., as co-lead counsel. On March 5, 2004, a consolidated amended complaint was filed(the “Complaint,”). The Complaint alleged that CSFB violated §§ 10(b) and 20(a) of the Securities Exchange Actof 1934 (“Exchange Act”) (15 U.S.C. §§ 78j(b) and 78t(a) and Rule 10b-5 promulgated thereunder), causing damages to purchasers of Winstar common stock during the Class Period. By order dated August 12, 2004, the Court denied the Defendant’s motion to dismiss the Complaint. On August 17, 2005, the Court granted Lead Plaintiffs’ Motion for Class Certification. The Defendant subsequently filed a petition for leave to appeal the Class Certification decision, which was denied shortly before the parties agreed tosettle the action. After engaging in substantial discovery,the parties agreed to a mediation. The mediation was held on January 5,2006. Through the mediation, the parties agreed to a settlement, the terms of which are embodied in a Settlement Agreement and described in this Notice.

The complaint alleges that defendant 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 Winstar 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 Winstar securities was artificially inflated throughout the Class Period causing plaintiff and the other members of the Class to suffer damages.

COMPANY INFORMATION:

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

SECURITIES INFORMATION:

Ticker Symbol: WCII
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: D. Massachusetts
DOCKET #: 03-CV-10956
JUDGE: Hon. Joseph L. Tauro
DATE FILED: 05/21/2003
CLASS PERIOD START: 01/05/2001
CLASS PERIOD END: 04/05/2001
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. 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
  2. Murray, Frank & Sailer LLP
    275 Madison Ave 34th Flr, Murray, Frank & Sailer LLP, NY 10016
    212.682.1818 212.682.1892 · email@murrayfrank.com
  3. Rabin, Murray & Frank LLP
    275 Madison Avenue, Rabin, Murray & Frank LLP, NY 10016
    212-682-1818 · info@rabinlaw.com
  4. Shapiro Haber & Urmy LLP (Boston)
    75 State Street, Shapiro Haber & Urmy LLP (Boston), MA 02109
    617.439.3939 617.439.0134 · info@shulaw.com
  5. 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
COURT: D. Massachusetts
DOCKET #: 03-CV-10956
JUDGE: Hon. Joseph L. Tauro
DATE FILED: 03/05/2004
CLASS PERIOD START: 01/05/2001
CLASS PERIOD END: 04/05/2001
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Berger & Montague PC
    1622 Locust Street, Berger & Montague PC, PA 19103
    800.424.6690 215.875.4604 · investorprotect@bm.net
  2. Shapiro Haber & Urmy LLP (Boston)
    75 State Street, Shapiro Haber & Urmy LLP (Boston), MA 02109
    617.439.3939 617.439.0134 · info@shulaw.com
No Document Title Filing Date
No Document Title Filing Date