According to the docket posted, on April 7, 2006, the Court entered the Orders signed by U.S. District Judge Donetta W. Ambrose awarding attorneys’ fees and reimbursement of expenses and approving the plan of allocation. That day, the Court also entered the Final Judgment and Order of Dismissal with Prejudice.
Earlier, on June 29, 2005, the Court entered the Order by Judge Donetta W. Ambrose that having been advised by counsel, the action has been settled. The Clerk is ordered to mark the case closed and nothing in the order shall be considered a dismissal or disposition of the action. On December 22, 2005, the Court entered the Order granting the motion for preliminarily approving the class action settlement.
The original complaint alleges that defendants violated Sections 11, 12(a)(2) and 15 of the Securities Act of 1933 by issuing a materially false and misleading Registration Statement and Prospectus (the "Prospectus") in connection with Printcafe's initial public offering ("IPO"). The complaint alleges that the Registration Statement and Prospectus were materially false and misleading because statements made therein failed to disclose and misrepresented the following adverse facts, among others: (a) that demand for the Company's products and services was declining to the extent that the Company was not performing in line with its internal expectations; (b) that the Company's product development efforts were experiencing difficulties; and (c) that the Company's declining financial performance would require it to engage in a material restructuring of its operations in order to generate cost savings and reverse that negative trend. At the time of the filing of the complaint, the price of Printcafe common stock was $2.57 per share.