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Case Status:    SETTLED
On or around 11/02/2005 (Date of order of final judgment)

Filing Date: January 23, 2004

According to the docket posted, on November 2, 2005, the Court entered the Final Judgment and Order of Dismissal with Prejudice, signed by U.S. District Judge A. Howard Matz. The settlement as set forth in the Stipulation of Settlement is approved and the case is dismissed with prejudice. The Court further entered that day the Orders approving the Plan of Allocation and awarding lead counsel attorneys’ fees and reimbursement of expenses.

On May 9, 2005, the Court entered the Order Dismissing the Civil Actions by Virtue of Settlement by U.S. District Judge A. Howard Matz. By the Order, the action is dismissed without prejudice to the right, upon good cause shown within 45 days, to reopen this action if settlement is not consummated. On June 10, 2005, a Stipulation of Settlement was filed. On August 24, 2005, the Court entered the Revised Order Preliminarily Approving Settlement and Providing for Notice. By the Notice of Settlement, the proposed settlement created a fund in the amount of $4,600,000 in cash. The settlement hearing is scheduled for October 31, 2005.

The original complaint charges Vans and certain of its officers and directors with violations of the Securities Exchange Act of 1934. The complaint alleges that beginning in 1998, defendants orchestrated a scheme wherein on a routine basis Vans “posted” product to three separate Distribution Centers, including Unique Services, Pronto Services and Special Dispatcher, in order to inflate EPS on a quarterly basis. This scheme took place each quarter, causing Vans’ quarterly financial statements to be false. Moreover, defendants actively concealed that literally millions of dollars worth of Vans’ valuable inventory was worth a fraction of the value claimed.

The complaint further allege that as a result of the defendants’ false statements, Vans’ stock price traded at inflated levels during the Class Period, increasing to as high as $24.59 on May 31, 2001, whereby the Company and its top officers and directors caused to be sold $60 million worth of Vans shares. Plaintiff seeks to recover damages on behalf of all purchasers of Vans common stock during the Class Period (the “Class”). The plaintiff is represented by Milberg Weiss Bershad Hynes & Lerach LLP, who has expertise in prosecuting investor class actions and extensive experience in actions involving financial fraud.

COMPANY INFORMATION:

Sector: Consumer Cyclical
Industry: Footwear
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: VANS
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: C.D. California
DOCKET #: 04-CV-0431
JUDGE: Hon. Carolyn Turchin
DATE FILED: 01/23/2004
CLASS PERIOD START: 03/24/1999
CLASS PERIOD END: 05/23/2002
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 (New York)
    200 Broadhollow, Suite 406, Cauley Geller Bowman Coates & Rudman, LLP (New York), NY 11747
    631.367.7100 631.367.1173 ·
  4. Law Offices of Brian M. Felgoise, P.C.
    Esquire at 261 Old York Road, Suite 423, Law Offices of Brian M. Felgoise, P.C., PA 19046
    215.886.1900 · securitiesfraud@comcast.net
  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 (S.F., CA)
    100 Pine Street - Suite 2600, Milberg Weiss Bershad Hynes & Lerach LLP (S.F., CA), CA 94111
    415.288.4545 415.288.4534 ·
No Document Title Filing Date
COURT: C.D. California
DOCKET #: 04-CV-0431
JUDGE: Hon. Carolyn Turchin
DATE FILED: 02/14/2005
CLASS PERIOD START: 03/24/1999
CLASS PERIOD END: 05/23/2002
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Lerach Coughlin Stoia Geller Rudman & Robbins LLP (Los Angeles)
    355 S. Grand Avenue, Suite 4170, Lerach Coughlin Stoia Geller Rudman & Robbins LLP (Los Angeles), CA 90071
    213.617.9007 213.617.9185 · info@lerachlaw.com
  2. Lerach Coughlin Stoia Geller Rudman & Robbins LLP (San Diego)
    401 B Street, Suite 1700, Lerach Coughlin Stoia Geller Rudman & Robbins LLP (San Diego), CA 92101
    206.749.5544 206.749.9978 · info@lerachlaw.com
  3. Milberg Weiss Bershad & Schulman LLP
    355 South Grand Avenue, Suite 4170, Milberg Weiss Bershad & Schulman LLP , CA 90071
    213.617.9007 213.617.9185 · info@milbergweiss.com
  4. Milberg Weiss Bershad Hynes & Lerach LLP (Los Angeles, CA)
    355 S Grand Ave - Ste 4170, Milberg Weiss Bershad Hynes & Lerach LLP (Los Angeles, CA), CA 90071-3172
    213.617.9007 ·
  5. Milberg Weiss Bershad Hynes & Lerach LLP (San Diego, CA)
    600 West Broadway, 1800 One America Plaza, Milberg Weiss Bershad Hynes & Lerach LLP (San Diego, CA), CA 92101
    800.449.4900 · support@milberg.com
No Document Title Filing Date
No Document Title Filing Date