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Case Status:    DISMISSED    
On or around 05/06/2004 (Date of order of final judgment)

Filing Date: December 08, 2003

On May 26, 2005, the U.S. Court of Appeals for the Second Circuit affirmed the Judgment of the District Court. On June 22, 2005, the U.S. Court of Appeals issued the Mandate and the case was closed.

On February 2, 2004, the defendants filed a motion to dismiss for lack of jurisdiction pursuant to Rules 12(b)(1) and 12(b)(6) of the FRCP. On May 6, 2004, the Court entered the Memorandum and Opinion # 90054 granting the defendants’ motion to dismiss the action with prejudice. The plaintiff filed a notice of appeal from the Memorandum and Opinion.

The complaint alleges that the Defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and SEC Rule 10b-5. As alleged by the complaint, at approximately 10:46 a.m. on December 5, 2003, the market price of COCO fell precipitously from $57.45 to as low as $38.97 per share within 12 minutes. At 10:58 a.m., Nasdaq halted trading in COCO, stating that the plunge was caused by "misuse or malfunction" of an electronic trading system. Nasdaq permitted trading to resume approximately one hour later at 11:55 a.m. When COCO reopened at 11:55 a.m., the price of the stock recovered quickly. Approximately 30 minutes after trading in COCO resumed, Nasdaq belatedly announced that it would cancel all trades in COCO made between 10:46 a.m. and 10:58:08 a.m. At no time prior to approximately 12:30 p.m. did Nasdaq inform investors that it would cancel all trades in COCO between 10:46 a.m. and 10:58:08 a.m. Therefore, during the period between the time COCO resumed trading at 11:55 a.m. and the time Nasdaq announced the cancellation of such trades at approximately 12:30 p.m., investors made trading decisions in reliance on Nasdaq's statement that trading had resumed and without knowing that Nasdaq had decided to cancel the trades between 10:46 a.m. and 10:58:08 a.m. Nasdaq's
belated cancellation of such trades caused injury to investors who traded COCO securities between 10:46 a.m. and approximately 12:30 p.m. on December 5, 2003.

NOTE: The action was filed on behalf of all persons who traded the stock of Corinthian Colleges, Inc. between 10:46 a.m. and approximately 12:30 p.m. on December 5, 2003 (the "Class Period").

COMPANY INFORMATION:

Sector: Services
Industry: Schools
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: COCO
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-9730
JUDGE: Hon. Charles S. Haight
DATE FILED: 12/08/2003
CLASS PERIOD START: 12/05/2003
CLASS PERIOD END: 12/05/2003
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Berger & Montague PC
    1622 Locust Street, Berger & Montague PC, PA 19103
    800.424.6690 215.875.4604 · investorprotect@bm.net
  2. 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
  3. Landskroner - Grieco, Ltd.
    1360 West 9th St., Suite 200, Landskroner - Grieco, Ltd. , OH 44113-1904
    866.522.9500 · jack@landskronerlaw.com
  4. Wechsler Harwood, LLP.
    488 Madison Avenue 8th Floor, Wechsler Harwood, LLP., NY 10022
    212.935.7400 212.753.3630 · info@whesq.com
  5. 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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