On or around 08/25/2005 (Date of order of final judgment)
Filing Date: June 04, 2004
On April 22, 2005, a Notice of Proposed Settlement and Hearing Thereon, and Right to Share in Settlement Proceeds of $600,000, was filed. A Settlement Hearing was set for August 10, 2005. At the hearing, the Court approved the settlement, the plan of allocation, and awarded reimbursement of expenses. The Court entered the Final Judgment and Order of Dismissal with Prejudice.
On August 23, 2004, the Court entered the Stipulation and Order signed by U.S. District Judge Mary Ann Vial Lemmon. According the Stipulation and Order, the lead plaintiffs' selection of counsel is approved. Lerach Coughlin Stoia Geller Rudman & Robbins LLP and Federman & Sherwood are appointed co-lead counsel for the class and Barrasso Usdin Kupperman Freeman & Sarver LLC is appointed as liaison counsel.
The complaint alleges that the Company issued false and misleading representations thereby causing Company shares to trade at artificially inflated levels. The lawsuit further alleges that Trico continuously informed investors that, even though the Company was sustaining losses each quarter, its future earnings prospects were favorable. The complaint further alleges that these favorable prospects were touted even though the defendants were in possession of information which showed that the Company's operations would continue to experience losses and their core business was in an area of declining revenues. The action is pursuing remedies under the Securities Exchange Act of 1934.
Company & Securities Information
Defendant: Trico Marine Services, Inc.
Industry: Oil Well Services & Equipment
Headquarters: United States
Ticker Symbol: TMAR
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.
First Identified Complaint
Leif Weizman, et al. v. Trico Marine Services, Inc., et al.