Pursuant to the Court’s Order granting the plaintiff’s motion to remand, Judgment was entered on October 24, 2003, in favor of the plaintiff and against the defendants. The case was remanded to Superior Court of the State of California and the civil case was terminated.
This class action lawsuit was originally filed in the Superior Court of the State of California for the County of Santa Clara, and it was brought pursuant to section 17200 of the California Business & Professions Code.
On July 24, 2003, the filing of State of California was removed to the United States District Court for Northern District of California pursuant to the provisions 28 of the U.S.C., sections 1331, 1441(a), and 1441(b). According to the Notice of Removal, the Northern District of California Court has exclusive original jurisdiction pursuant to the provisions 15 of the U.S.C. section 78aa, given that with this action Plaintiff seeks to implement and/or enforce rules promulgated by the New York Stock Exchange ("NYSE") and the National Association of Securities Dealers ("NASD").
The complaint filed in the State Court alleges that Credit Suisse's Technology Group regularly issued research reports that were not based on principles of fair dealing and good faith and did not provide a sound basis for evaluating facts, contained exaggerated or unwarranted claims about covered companies, and/or contained opinions for which there was no reasonable bases in violation of NYSE Rules 28 401,472 and 476(a)(6), and NASD Rules 2110 and 2210. In addition, in the original complaint plaintiff seeks disgorgement of defendants' illegally obtained profits, and injunctive relief to put the investor on notice of any relationship between the investment bank issuing research reports and the company which the analyst is covering and to stop the defendants' further improper conduct.
This lawsuit was brought on behalf of Jerome Feitelberg and all other persons and entities resident in the State of California who held shares anytime during the period from July 1, 1998 to December 31, 2001 of the following companies: Gematar, Allaire, Razorflsh, DIGI, Synopsys, Nurnerical, Agilent, Winstar, AOL, and Lantronix and were injured thereby.
NOTE: The filing date below corresponds to the date of filing in the Superior Court of the State of California County of Santa Clara.