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Case Status:    DISMISSED    
On or around 12/22/2004 (Other)

Filing Date: July 15, 2004

Gexa Corporation is a retail electric services company in Texas.

The Complaint alleges, among other things, that the Company's publicly filed reports and public statements contained false and misleading information, which resulted in damages to the Plaintiff and members of the proposed class when they purchased the Company's securities. Specifically, the Complaint alleges that the Company overstated revenue during the second and third quarters of 2003 by $2.07 million and $2.05 million, respectively, by utilizing an improper accounting method for calculating sales of electric power. The Complaint alleges that the Company's conduct and the conduct of the other Defendants violated Sections 10(b) and 10b-5 and that the individual Defendants violated Section 20(a) of the Securities Exchange Act of 1934.

On October 21, 2004, the Court entered the Order granting the motion to appoint lead Plaintiff and granting the motion for approval of lead Plaintiff’s choice of co-lead Counsel. On December 17, 2004, a notice of voluntary dismissal without prejudice was filed by all Plaintiffs. On December 22, 2004, the Court entered the Order signed by U.S. District Judge David Hittner. The action was voluntarily dismissed without prejudice.

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