Case Page

 

Case Status:    SETTLED
On or around 12/01/2008 (Date of stipulation and/or agreement of settlement)

Filing Date: July 18, 2003

Prior to any ruling on the defendants' motions to dismiss, parties entered mediation for settlement. On December 1, 2008 a Stipulation of Settlement was filed with the court outlining the $20,650,000 agreement. According to the class notice, lead counsel intends to apply for fees of 25% of the net settlement fund and reimbursement of expenses in the amount of $235,000.

As summarized by the Company’s FORM 10-Q for the quarterly period ended June 30, 2007, the Company and the Crompton Individual Defendants filed a motion to dismiss on September 17, 2004, which is now fully briefed and pending. The former directors of Witco Corp. filed a motion to dismiss in February 2005, which is pending. On July 22, 2005, the court granted a motion by the Company and the Crompton Individual Defendants to stay discovery in the related Connecticut shareholder derivative lawsuit, pending resolution of the motion to dismiss by the Company and Crompton Individual Defendants.

According to the latest docket filed in the U.S. District Court for the Northern District of California, on October 16, 2003, a Notice of Voluntary Dismissal was filed by the plaintiff, and on October 21, 2003, the Court entered the Order by U.S. District Judge Illston dismissing the case. The civil case is terminated in California, but the case is continuing in Connecticut.

Crompton Corporation and certain of its officers and directors face two securities class actions filed in California and Connecticut during the period from July 18, 2003 to July 31, 2003.

The original complaint charges Crompton and certain of its officers and directors with violations of the Securities Act of 1933 and the Securities Exchange Act of 1934. The complaint alleges that during the class period, defendants caused Crompton's shares to trade at artificially inflated levels through the issuance of false and misleading financial statements by: (a) agreeing to charge prices at certain levels and otherwise to fix, increase, maintain or stabilize prices of rubber chemicals sold in the United States; (b) selling rubber chemicals at the agreed upon prices; and (c) inflating their profits via the above acts. As a result, the Company's shares traded at inflated prices enabling the Company to refinance its debt and consummate a major acquisition using its inflated securities as currency.

NOTE: Crompton manufactures and markets a wide variety of polymer and specialty products.

COMPANY INFORMATION:

Sector: Basic Materials
Industry: Chemical Manufacturing
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: CK
Company Market: New York SE
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. Connecticut
DOCKET #: 03-CV-03369
JUDGE: Hon. Susan Illston
DATE FILED: 07/18/2003
CLASS PERIOD START: 10/26/1998
CLASS PERIOD END: 10/08/2002
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Cauley, Geller, Bowman, Coates & Rudman LLP (San Diego, CA)
    225 Broadway, Suite 1900, Cauley, Geller, Bowman, Coates & Rudman LLP (San Diego, CA), CA 92010
    619.702.7350 619.702.7351 ·
  2. Law Offices of Charles J. Piven, P.A.
    World Trade Center-Baltimore,401 East Pratt Suite 2525, Law Offices of Charles J. Piven, P.A., MD 21202
    410.332.0030 · pivenlaw@erols.com
  3. Milberg Weiss Bershad Hynes & Lerach LLP (S.F., CA)
    100 Pine Street - Suite 2600, Milberg Weiss Bershad Hynes & Lerach LLP (S.F., CA), CA 94111
    415.288.4545 415.288.4534 ·
  4. Milberg Weiss Bershad Hynes & Lerach LLP (San Diego, CA)
    600 West Broadway, 1800 One America Plaza, Milberg Weiss Bershad Hynes & Lerach LLP (San Diego, CA), CA 92101
    800.449.4900 · support@milberg.com
  5. Murray, Frank & Sailer LLP (Milwaukee)
    3181 South 27th Street, Murray, Frank & Sailer LLP (Milwaukee), WI 53215
    866.264.3995 414.482.8001 · info@murrayfrank.com
  6. Schatz & Nobel, P.C.
    330 Main Street, Schatz & Nobel, P.C., CT 06106
    800.797.5499 860.493.6290 · sn06106@AOL.com
  7. Schiffrin & Barroway LLP
    3 Bala Plaza E, Schiffrin & Barroway LLP, PA 19004
    610.667.7706 610.667.7056 · info@sbclasslaw.com
No Document Title Filing Date
COURT: D. Connecticut
DOCKET #: 03-CV-01293
JUDGE: Hon. Susan Illston
DATE FILED: 07/20/2004
CLASS PERIOD START: 10/26/1998
CLASS PERIOD END: 10/08/2002
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. 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. Schatz & Nobel, P.C.
    330 Main Street, Schatz & Nobel, P.C., CT 06106
    800.797.5499 860.493.6290 · sn06106@AOL.com
  4. Schiffrin & Barroway LLP
    3 Bala Plaza E, Schiffrin & Barroway LLP, PA 19004
    610.667.7706 610.667.7056 · info@sbclasslaw.com
No Document Title Filing Date
No Document Title Filing Date