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Case Status:    SETTLED
On or around 11/16/2005 (Date of order of final judgment)

Filing Date: July 31, 2003

According to the Final Judgment and Order of Dismissal with Prejudice entered on November 16, 2005, this Court approves the settlement set forth in the Stipulation and finds that said settlement is, in all respects, fair, reasonable, and adequate. The case is closed.

By the Notice of Pendency and Proposed Settlement of Class Action, the proposed settlement creates a fund in the principal amount of $12,000,000.00 in cash (the “Settlement Fund”) and will include interest that accrues on the fund prior to distribution. Based on Lead Plaintiffs’ estimate of the number of shares entitled to participate in the settlement and the anticipated number of claims to be submitted by Settlement Class Members, the average recovery per share will be approximately $0.57 before deduction of Court-approved fees and expenses. However, your actual recovery from this fund will depend on a number of variables, including the number of claimants, the number of shares you purchased, the expense of administering the claims process, the timing of your purchases and sales (if any) and the type of security you purchased as explained more fully in Section VII below.

According to the docket posted, on January 30, 2004, the plaintiffs filed a Consolidated Class Action Complaint. On April 1, 2004, the defendants responded by filing a motion to dismiss the Consolidated Class Action Complaint. On July 23, 2004, the Court entered the Order signed by U.S. District Judge Richard H. Kyle denying the motion to dismiss. On August 24, 2005, a Stipulation of Settlement was filed. The settlement was preliminarily approved in an Order entered on September 9, 2005.

The original complaint alleges that defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and Rule 10b-5 promulgated thereunder, by
issuing a series of materially false and misleading statements concerning the
Company's revenue growth and its financial performance. As alleged in the
complaint, these statements were materially false and misleading because they
failed to disclose and/or misrepresented the following adverse facts, among
others: (i) that significant amounts of the Company's sales were to affiliates
that were financed by the Company itself; and (ii) that the Company's customer
base was beginning to defer purchases and the expected revenue growth which the
Company touted in press releases would no longer occur. When these facts were
belatedly disclosed to the market, the price of Stellent common stock declined
precipitously.

COMPANY INFORMATION:

Sector: Technology
Industry: Software & Programming
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: STEL
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. Minnesota
DOCKET #: 03-CV-04384
JUDGE: Hon. Richard H. Kyle
DATE FILED: 07/31/2003
CLASS PERIOD START: 10/02/2001
CLASS PERIOD END: 04/01/2002
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bernstein Liebhard & Lifshitz, LLP (New York)
    10 E. 40th Street, 22nd Floor, Bernstein Liebhard & Lifshitz, LLP (New York), NY 10016
    800.217.1522 · info@bernlieb.com
  2. Brian Felgoise
    230 South Broad Street, Suite 404 , Brian Felgoise, PA 19102
    215.735.6810 215/735.5185. ·
  3. Cauley Geller Bowman Coates & Rudman LLP (Little Rock, AR)
    P.O. Box 25438, Cauley Geller Bowman Coates & Rudman LLP (Little Rock, AR), AR 72221-5438
    501.312.8500 501.312.8505 ·
  4. Goodkind Labaton Rudoff & Sucharow LLP
    100 Park Avenue, Goodkind Labaton Rudoff & Sucharow LLP, NY 10017
    212.907.0700 212.818.0477 · info@glrslaw.com
  5. 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
  6. Milberg Weiss Bershad Hynes & Lerach LLP (New York, NY)
    One Pennsylvania Plaza, Milberg Weiss Bershad Hynes & Lerach LLP (New York, NY), NY 10119-1065
    212.594.5300 ·
  7. Murray, Frank & Sailer LLP
    275 Madison Ave 34th Flr, Murray, Frank & Sailer LLP, NY 10016
    212.682.1818 212.682.1892 · email@murrayfrank.com
  8. Wolf Haldenstein Adler Freeman & Herz LLP (New York)
    270 Madison Avenue, Wolf Haldenstein Adler Freeman & Herz LLP (New York), NY 10016
    212.545.4600 212.686.0114 · newyork@whafh.com
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COURT: D. Minnesota
DOCKET #: 03-CV-04384
JUDGE: Hon. Richard H. Kyle
DATE FILED: 01/30/2004
CLASS PERIOD START: 10/02/2001
CLASS PERIOD END: 04/01/2002
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Lerach Coughlin Stoia Geller Rudman & Robbin (San Francisco)
    100 Pine Street, Suite 2600, Lerach Coughlin Stoia Geller Rudman & Robbin (San Francisco), CA 94111
    415.288.4545 415.288.4534 · info@lerachlaw.com
  2. Lerach Coughlin Stoia Geller Rudman & Robbins LLP (San Diego)
    655 West Broadway, Suite 1900, Lerach Coughlin Stoia Geller Rudman & Robbins LLP (San Diego), CA 92101
    619.231.1058 619.231.7423 ·
  3. Milberg Weiss Bershad Hynes & Lerach LLP (New York, NY)
    One Pennsylvania Plaza, Milberg Weiss Bershad Hynes & Lerach LLP (New York, NY), NY 10119-1065
    212.594.5300 ·
  4. Reinhardt, Wendorf & Blanchfield Attorneys at Law
    E-1000 First National Bank Building, 332 Minnesota Street, Reinhardt, Wendorf & Blanchfield Attorneys at Law, MN 55101
    800.465.1592 651.297.6543 · info@ralawfirm.com
  5. Zimmerman Reed, LLP
    1100 IDS Center, 80 South 8th Street , Zimmerman Reed, LLP, MN 55402
    612.341.0400 612.341.0844 · info@zimmreed.com
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