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Case Status:    SETTLED
On or around 10/02/2007 (Date of order of final judgment)

Filing Date: December 09, 2004

On October 2, 2007, the Court entered the Order by U.S. District Judge Susan Illston grating the motion for settlement. On October 16, 2007, the Court entered the Order awarding fees to class counsel and providing for reimbursement of expenses.

According to a press release dated August 1, 2007, a hearing will be held on September 28, 2007, at 9:00 a.m., before the Honorable Susan Illston at the United States Courthouse, 450 Golden Gate Avenue, San Francisco, California, for the purpose of determining (1) whether the proposed settlement of the claims in the Litigation for the sum of $10,700,000 in cash should be approved by the Court as fair, reasonable and adequate; (2) whether, thereafter, this Litigation should be dismissed with prejudice as set forth in the Stipulation of Settlement dated June 13, 2007, and the Claims asserted by Class Members in the Litigation released; (3) whether the Plan of Allocation is fair, reasonable and adequate and therefore should be approved; and (4) whether the application of counsel for the Plaintiff and the Class ("Class Counsel") for an award of attorneys' fees, and reimbursement of expenses incurred in connection with this Litigation, and the application of the plaintiffs for reimbursement of expenses incurred in connection with this Litigation, should be approved.

In a press release dated May 21, 2007, SupportSoft, Inc (SPRT) announced that the company and lead plaintiffs have reached an agreement in principle to settle the securities class action litigation, "In re SupportSoft, Inc. Securities Litigation", filed by shareholders who purchased SupportSoft securities between January 20, 2004 and October 1, 2004, as described in the Company's SEC filings, including its most recent Form 10-Q dated May 9, 2007. The agreement does not contain any admission of fault or wrongdoing on the part of the Company or the individual defendants. The settlement is expected to be funded by insurance and is subject to the execution of a definitive settlement agreement and the approval of the United States District Court for the Northern District of California.

In a press release dated July 21, 2006, Labaton Sucharow & Rudoff LLP and Schatz & Nobel, P.C. announce that the Court has certified a Class Action to proceed on behalf of persons who purchased or otherwise acquired the securities of SupportSoft, Inc. (Nasdaq:SPRT). Upon stipulation of the parties, the Court has ordered that the Action should proceed as a class action on behalf of all persons and entities who purchased or otherwise acquired the securities of SupportSoft, Inc. ("SupportSoft") from January 20, 2004 to October 1, 2004 (the "Class Period") and who were damaged thereby (the "Class"). Excluded from the Class are the defendants, the officers and directors of SupportSoft at all relevant times, members of their immediate families and their legal representatives, heirs, successors or assigns and any entity in which any excluded person or entity has a controlling interest.

By the Order dated July 15, 2005, the Court granted the defendants’ motion to dismiss the complaint with leave to amend. On August 19, 2005, the plaintiffs filed an Amended Consolidated Class Action Complaint, and the defendants responded with a motion to dismiss the complaint. On November 19, 2005, the Court denied the defendants' motion to dismiss the complaint.

In a press release dated April 15, 2005, by the order dated March 21, 2005, Goodkind Labaton was appointed by the Court to serve as Co-Lead Counsel for the Class in the now consolidated action In re SupportSoft Securities Litigation, Civil Action No. 04-CV-5222 (N.D. Cal.). Goodkind Labaton continues to conduct an extensive investigation into the allegations in the initial complaint. The firm expects to file its amended complaint by April 21, 2005.

The original complaint alleges that Defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. Specifically, the complaint alleges that Defendants issued a series of false and misleading statements to the market during the Class Period. These statements were false and misleading because the Company failed to disclose that its business model was in fact not materially differentiated from other enterprise software companies, that its customers were implementing additional hurdles to contract approvals and that it was experiencing execution difficulties.

The complaint further alleges that on October 4, 2004, the Company announced its preliminary financial results for the third quarter 2004, ended September 30, 2004. The Company announced that it expected total revenues for the third quarter 2004 to be in the range of $11.9 million to $12.3 million as compared to $13.5 million for the same period the prior year. The Company claimed that "tightness in IT spending" and "more complex approval processes" was the reason for the significant miss. On this news, the Company's share price dropped from $9.62 per share to $6.21 per share, representing a drop of 35.4% on extremely heavy trading volume.

COMPANY INFORMATION:

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

SECURITIES INFORMATION:

Ticker Symbol: SPRT
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-05222
JUDGE: Hon. Marilyn H. Patel
DATE FILED: 12/09/2004
CLASS PERIOD START: 01/20/2004
CLASS PERIOD END: 10/01/2004
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Brodsky & Smith, LLC (former Pennysylvania)
    11 Bala Avenue, Suite 39, Brodsky & Smith, LLC (former Pennysylvania), PA 19004
    610.668.7987 610.660.0450 · esmith@Brodsky-Smith.com
  2. Goodkind Labaton Rudoff & Sucharow LLP
    100 Park Avenue, Goodkind Labaton Rudoff & Sucharow LLP, NY 10017
    212.907.0700 212.818.0477 · info@glrslaw.com
  3. Law Offices of Charles J. Piven, P.A.
    World Trade Center-Baltimore,401 East Pratt Suite 2525, Law Offices of Charles J. Piven, P.A., MD 21202
    410.332.0030 · pivenlaw@erols.com
  4. Milberg Weiss Bershad & Schulman LLP (New York)
    One Pennsylvania Plaza, 49th Floor, Milberg Weiss Bershad & Schulman LLP (New York), NY 10119
    212.594.5300 212.868.1229 · info@milbergweiss.com
  5. Roy Jacobs & Associates (New York)
    350 Fifth Avenue Suite 3000 , Roy Jacobs & Associates (New York), NY 10118
    · classattorney@pipeline.com
  6. Schatz & Nobel, P.C.
    330 Main Street, Schatz & Nobel, P.C., CT 06106
    800.797.5499 860.493.6290 · sn06106@AOL.com
  7. Schiffrin & Barroway LLP
    3 Bala Plaza E, Schiffrin & Barroway LLP, PA 19004
    610.667.7706 610.667.7056 · info@sbclasslaw.com
  8. Shepherd, Finkelman, Miller & Shah, LLC
    35 East State Street, Shepherd, Finkelman, Miller & Shah, LLC, PA 19063
    877.891.9880 · jshah@classactioncounsel.com
  9. Zwerling, Schachter, Zwerling & Koppell LLP
    767 Third Avenue , Zwerling, Schachter, Zwerling & Koppell LLP, NY 10017
    ·
No Document Title Filing Date
COURT: N.D. California
DOCKET #: 04-CV-05222
JUDGE: Hon. Marilyn H. Patel
DATE FILED: 08/23/2005
CLASS PERIOD START: 01/20/2004
CLASS PERIOD END: 10/01/2004
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. 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
  2. Goodkind Labaton Rudoff & Sucharow LLP
    100 Park Avenue, Goodkind Labaton Rudoff & Sucharow LLP, NY 10017
    212.907.0700 212.818.0477 · info@glrslaw.com
  3. Labaton Sucharow & Rudoff LLP
    100 Park Avenue, 12th Floor, Labaton Sucharow & Rudoff LLP, NY 10017
    212.907.0700 212.818.0477 · info@labaton.com
  4. Schatz & Nobel, P.C.
    330 Main Street, Schatz & Nobel, P.C., CT 06106
    800.797.5499 860.493.6290 · sn06106@AOL.com
  5. Schatz Nobel Izard P.C.
    One Corporate Center, 20 Church Street , Schatz Nobel Izard P.C., CT
    860.493.6292 860.493.6290 · info@snlaw.net
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No Document Title Filing Date