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Case Status:    DISMISSED    
On or around 03/11/2005 (Date of order of final judgment)

Filing Date: June 09, 2004

By the Order of Dismissal and Final Judgment entered on March 11, 2005, U.S. District Judge Susan Illston dismissed the case with prejudice in its entirety. The Motion to Dismiss the Consolidated Amended Class Action Complaint was earlier filed by the Defendants on November 19, 2004. Judge Susan Illston granted the motion Defendants’ on February 15, 2005.

The original complaint charges BEA and certain of its officers and directors with violations of the Securities Exchange Act of 1934. The complaint alleges that during the Class Period, defendants issued materially false and misleading statements to the investing public regarding BEA's business and prospects. As a result of these false statements, BEA's stock price traded at inflated levels during the Class Period, increasing to as high as $14 in early 2004, whereby the Company's top officers and directors sold more than $13 million worth of their own shares. Then on May 13, 2004, BEA reported disappointing first quarter results, citing the difficult selling environment and sales execution issues as the primary reasons. On this news, the Company's shares fell 30% to $8 per share.

According to the complaint, the true facts, which were known to the defendants but actively concealed from the public, were as follows: (i) that the Company was experiencing material sales execution problems in its licensing division, resulting in license reserve being down in the comparable quarter and in the sequential quarter; (ii) that during the preceding quarter, the Company's sales staff and management were attempting to reorganize; however, in doing so, the Company's sales were actually disrupted; (iii) that the Company's WebLogic 8.1 Platform was far from "revolutionary" and was not selling as defendants claimed; (iv) that the coverage of small and medium-sized businesses was transferred to the General Accounts Team, which disrupted the Company's North American reserves; and (v) that the Company was experiencing weakness in its telecom vertical business, not strength.

COMPANY INFORMATION:

Sector: Technology
Industry: Software & Programming
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: BEAS
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: N.D. California
DOCKET #: 04-CV-2275
JUDGE: Hon. Susan Illston
DATE FILED: 06/09/2004
CLASS PERIOD START: 11/13/2003
CLASS PERIOD END: 05/13/2004
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Cauley Geller, Bowman Coates & Rudman, LLP (Boca Raton, FL)
  2. Geller Rudman, PLLC.
  3. Green & Jigarjian LLP
  4. Law Offices of Marc S. Henzel (Lawrence)
  5. Lerach Coughlin Stoia Geller Rudman & Robbin (San Francisco)
  6. Lerach Coughlin Stoia Geller Rudman & Robbins LLP (San Diego)
  7. Stull, Stull & Brody (Los Angeles)
  8. Wilson Sonsini Goodrich & Rosati. Professional Corporation
No Document Title Filing Date
COURT: N.D. California
DOCKET #: 04-CV-2275
JUDGE: Hon. Susan Illston
DATE FILED: 10/18/2004
CLASS PERIOD START: 11/13/2003
CLASS PERIOD END: 05/13/2004
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Green Welling LLP (San Francisco)
    235 Pine Street, 15th Floor, Green Welling LLP (San Francisco), CA 94104
    415.477.6700 415.477.6710 · gw@classcounsel.com
  2. Lerach Coughlin Stoia Geller Rudman & Robbins LLP (Boca Raton)
    197 South Federal Highway, Suite 200, Lerach Coughlin Stoia Geller Rudman & Robbins LLP (Boca Raton), FL 33432
    561.750.3000 56.750.3364 · info@lerachlaw.com
  3. Schiffrin & Barroway LLP
    3 Bala Plaza E, Schiffrin & Barroway LLP, PA 19004
    610.667.7706 610.667.7056 · info@sbclasslaw.com
No Document Title Filing Date
No Document Title Filing Date