The Topaz Group, Inc. produces and distributes precious and semi-precious stones.

The action charges that Defendants violated federal securities laws by issuing a series of materially false and misleading statements to the market throughout the Class Period, statements which had the effect of artificially inflating the market price of the Company's securities.

On March 25, 2004, the Court entered the Order granting the motion for appointment of lead Plaintiff and to approve proposed lead Plaintiff’s choice of Counsel. On April 30, 2004, Plaintiff filed an Amended Class Action Complaint, and the Defendants filed motions to dismiss the Amended Complaint. On January 28, 2005, the Court entered the Order signed by U.S. District Judge John C. Coughenour granting the Defendants’ motions to dismiss the Amended Complaint. In March and April 2005, the Plaintiffs filed Stipulations and Proposed Orders dismissing the claims against the Defendants. On April 7, 2005, the Court entered the Order of Dismissal with Prejudice.