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Case Status:    DISMISSED    
On or around 11/20/2006 (Date of order of final judgment)

Filing Date: August 26, 2003

On November 14, 2006, the Court entered Opinion and Order # 93926 granting the defendant’s motion to dismiss the Amended Complaint. According to the Order, plaintiffs' claims with respect to the alleged deferred tax asset and restructuring reserve reversal frauds are dismissed as time-barred because plaintiffs were on inquiry notice more than one year before commencing this action. Further, plaintiffs' claims with respect to the alleged going concern qualification and refinancing misrepresentation frauds are dismissed for failure to plead scienter with the requisite particularity. On November 20, 2006, the Court entered the Clerk’s Judgment, and the case is now closed.

On September 21, 2004, the Court entered the Opinion and Order #90670 signed by U.S. District Judge Sidney H. Stein granting the motion to consolidate the actions and granting the Sczesny Trusts' motion for appointment as lead plaintiff and for the approval of the selection of Goodkind, Labaton, Rudoff & Sucharow LLP as lead counsel. On November 19, 2004, the plaintiffs filed an Amended Consolidated Class Action Complaint. The defendants’ filed a motion to dismiss the Amended Consolidated Complaint.

The original complaint charges that Defendants KPMG LLP ("KPMG") and Polaroid's Chairman and CEO, Polaroid's CFO, and Polaroid's Controller, violated Section 10(b) and 20(a) of the Securities Exchange Act of 1934, 15 U.S.C. 78j(b) and 78t and Rule 10b-5, 17 CFR 240.10b-5 promulgated thereunder by making materially false and
misleading statements during the Class Period. Specifically the
complaint alleges that Polaroid's year end 2000 and first quarter 2001
financial statements were false and misleading due to: (i) the improper
inclusion of deferred tax credits that had little or no future value;
(ii) the improper reversal of reserves in the fourth quarter of 2000;
and (iii) the failure of the Company to properly classify its debt as
short-term. In addition, the unqualified audit and review opinions
issued by KPMG during the Class Period were false and misleading due to
the foregoing GAAP violations and KPMG's failure to issue a "going
concern" qualification.

COMPANY INFORMATION:

Sector: Consumer Cyclical
Industry: Photography
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: PRD
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: S.D. New York
DOCKET #: 03-CV-06480
JUDGE: Hon. Sidney H. Stein
DATE FILED: 08/26/2003
CLASS PERIOD START: 04/02/2001
CLASS PERIOD END: 08/16/2001
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. Corbally Gartland & Rappleyea LLP
    35 Market Street, Corbally Gartland & Rappleyea LLP, NY 12601
    845.454.1110 845.454.4857 · info@cgrlaw.com
  3. Goodkind Labaton Rudoff & Sucharow LLP
    100 Park Avenue, Goodkind Labaton Rudoff & Sucharow LLP, NY 10017
    212.907.0700 212.818.0477 · info@glrslaw.com
  4. Holzer Holzer & Cannon, LLP
    1117 Perimeter Center West, Suite E-107 , Holzer Holzer & Cannon, LLP , GA 30338
    888.508.6832 · holzerlaw@aol.com
  5. Law Offices of Marc S. Henzel (Lawrence)
    335 Central Avenue, Law Offices of Marc S. Henzel (Lawrence), NY 11559
    516.374.0707 516.295.3473 · securitiesfraud@comcast.net
  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. Shapiro Haber & Urmy LLP (Boston)
    75 State Street, Shapiro Haber & Urmy LLP (Boston), MA 02109
    617.439.3939 617.439.0134 · info@shulaw.com
  9. 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
No Document Title Filing Date
COURT: S.D. New York
DOCKET #: 03-CV-06480
JUDGE: Hon. Sidney H. Stein
DATE FILED: 11/19/2004
CLASS PERIOD START: 04/02/2001
CLASS PERIOD END: 08/16/2001
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Corbally Gartland & Rappleyea LLP
    35 Market Street, Corbally Gartland & Rappleyea LLP, NY 12601
    845.454.1110 845.454.4857 · info@cgrlaw.com
  2. Goodkind Labaton Rudoff & Sucharow LLP
    100 Park Avenue, Goodkind Labaton Rudoff & Sucharow LLP, NY 10017
    212.907.0700 212.818.0477 · info@glrslaw.com
  3. Labaton Sucharow & Rudoff LLP
    100 Park Avenue, 12th Floor, Labaton Sucharow & Rudoff LLP, NY 10017
    212.907.0700 212.818.0477 · info@labaton.com
  4. Salomon Green & Ostrow PC
    485 Madison Avenue, Salomon Green & Ostrow PC, NY 10022
    212.319.8500 ·
  5. The Jacob D. Fuchsberg Law Firm, LLP
    500 Fifth Avenue, The Jacob D. Fuchsberg Law Firm, LLP, NY 10110
    212.869.3500 212.398.1532 · info@fuchsberg.com
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No Document Title Filing Date