Case Page

 

Case Status:    DISMISSED    
On or around 07/18/2006 (Date of order of final judgment)

Filing Date: October 19, 2004

On March 6, 2007, the Court entered the Memorandum Opinion and Order signed by U.S. District by Judge Roger W. Titus denying the plaintiffs motion for reconsideration. On March 13, 2007, the plaintiff filed a Notice of Appeal in the U.S. Court of Appeals for the Fourth Circuit.

On August 1, 2006, the plaintiffs filed a motion for reconsideration regarding the July 18, 2006 Order granting the motion to dismiss and denying the plaintiff’s request for leave to amend.

According to a press release dated July 18, 2006, ECtel Ltd., a leading provider of Integrated Revenue Management(TM) (IRM (TM)) solutions, announced that the United States District Court for the District of Maryland has granted ECtel's motion to dismiss the securities class action lawsuit against ECtel and certain of its directors and officers who served in such positions in the years 2001-2003. Under the federal rules the plaintiffs have a period of 30 days in which to appeal the court's decision.

The complaint charges ECtel Company, certain officers and directors of the Company who served in such positions in the years 2001-2003, as well as ECI Telecom Ltd. (a major shareholder during the referenced period) with violations of U.S. Federal Securities laws and breach of fiduciary duties in connection with disclosure of ECtel's financial results between April 2001 and April 2003. Specifically, Defendants’ failure to comply with generally accepted accounting principals (“GAAP”) and its own stated accounting policies, and its corresponding reporting of misleading financial results and dissemination of other false and misleading statements acted as a fraud on the market.

COMPANY INFORMATION:

Sector: Services
Industry: Communications Services
Headquarters: Israel

SECURITIES INFORMATION:

Ticker Symbol: ECTX
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: D. Maryland
DOCKET #: 04-CV-3380
JUDGE: Hon. Roger W. Titus
DATE FILED: 10/19/2004
CLASS PERIOD START: 04/24/2001
CLASS PERIOD END: 04/02/2003
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Cohen, Milstein, Hausfeld & Toll, P.L.L.C. (Washington, DC)
    1100 New York Avenue, N.W., Suite 500, West Tower, Cohen, Milstein, Hausfeld & Toll, P.L.L.C. (Washington, DC), DC 20005
    202.408.4600 202.408.4699 · lawinfo@cmht.com
  2. Glancy Binkow & Goldberg LLP (Los Angeles)
    1801 Ave. of the Stars, Suite 311, Glancy Binkow & Goldberg LLP (Los Angeles), CA 90067
    310.201.915 310. 201-916 · info@glancylaw.com
No Document Title Filing Date
COURT: D. Maryland
DOCKET #: 04-CV-3380
JUDGE: Hon. Roger W. Titus
DATE FILED: 02/15/2005
CLASS PERIOD START: 04/24/2001
CLASS PERIOD END: 04/02/2003
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Cohen, Milstein, Hausfeld & Toll, P.L.L.C. (Washington, DC)
    1100 New York Avenue, N.W., Suite 500, West Tower, Cohen, Milstein, Hausfeld & Toll, P.L.L.C. (Washington, DC), DC 20005
    202.408.4600 202.408.4699 · lawinfo@cmht.com
  2. Glancy Binkow & Goldberg LLP (Los Angeles)
    1801 Ave. of the Stars, Suite 311, Glancy Binkow & Goldberg LLP (Los Angeles), CA 90067
    310.201.915 310. 201-916 · info@glancylaw.com
  3. Law Office of Jacob Sabo
    The Tower No. 3 Daniel Frisch Street, Law Office of Jacob Sabo 64731
    01197236078888 011 972 3 607 88 89 · sabolaw@inter.net.il
No Document Title Filing Date