On or around 10/01/2004 (Other)
Filing Date: April 16, 2004
According to the Order entered on October 1, 2004, on September 14, 2004, the plaintiff was ordered to file an amended complaint no later than September 30, 2004. No amended complaint has been filed. This case is dismissed without prejudice for failure to prosecute. The clerk is directed to close the file.
The complaint alleges that the defendants made material misrepresentations and omissions of material facts concerning the company's business performance during the relevant time. According to the complaint, throughout the relevant time period, defendants misrepresented the financial condition of the Asconi and failed to disclose certain related party transactions, thereby overstating the financial condition of Asconi. The company has delayed the filing of its annual Report on Form 10-K with the SEC, its stock price has collapsed and the stock has ceased trading.
Company & Securities Information
Defendant: Asconi Corporation
Sector: Consumer Non-Cyclical
Industry: Beverages (Alcoholic)
Headquarters: United States
Ticker Symbol: ACD
Company Market: American SE
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.