Netopia, Inc. is a company that, among other things, develops, markets and supports broadband and wireless (Wi-Fi) products and services, as well as produces server software products that enable remote support and centralized management of installed broadband gateways.

According to a press release dated August 17, 2004, the Complaint alleges that Netopia and certain of its officers and directors knowingly or recklessly made a series of material misrepresentations concerning Netopia's earnings, product costs, and sales to its largest customer. Moreover, Defendants and employees of Netopia profited handsomely from those misrepresentations, selling over $9 million of Netopia stock during the Class Period.

By the Order issued on December 15, 2005, the Court granted an individual Defendant’s motion to dismiss the § 10(b) cause of action against him, and granted the Defendants' motion to strike certain paragraphs of the Consolidated Amended Complaint. Otherwise, according to the Order, the Court denied the Defendants' motion to dismiss or strike, and ordered the Plaintiffs to file a streamlined version of their Complaint not exceeding thirty-five pages within twenty days of the date of this order.

On January 3, 2006, the Plaintiffs filed a Second Consolidated Amended Complaint. On June 21, 2006, the Court granted the Plaintiffs’ motion for class certification.

On March 21, 2007, a Stipulation of Settlement was filed establishing a settlement fund in the amount of $11,250,000 for the benefit of the class.

On June 8, 2007, the Court issued the Orders signed by U.S. District Court Judge Ronald M. Whyte approving the settlement, awarding lead Counsel attorneys fees in the amount of 25% of the net settlement fund plus $310,826.93 in reimbursement of expenses, and further awarding $10,000 to each of the two Plaintiffs in the case. The action was then terminated.