Case Page

 

Case Status:    DISMISSED    
On or around 01/27/2005 (Other)

Filing Date: January 29, 2003

According to the Company’s FORM 10-K For The Fiscal Year Ended December 31, 2004, on June 16, 2003, a consolidated amended class action complaint was filed. The Company filed a motion to dismiss the consolidated amended class action complaint. On September 12, 2003, the United States District Court for the Eastern District of Virginia dismissed the lawsuit in its entirety. The plaintiffs appealed a district court decision to the United States Court of Appeals for the Fourth Circuit. On December 21, 2004, the United States Court of Appeals for the Fourth Circuit affirmed the dismissal by the United States District Court for the Eastern District of the class action lawsuit.

On January 29, 2003, a purported securities class action lawsuit was filed in the United States District Court for the Eastern District of Virginia against MCG Capital Corporation and certain of its officers and the underwriters concerning MCG Capital’s initial public offering. The complaint alleged that the defendants made certain misstatements in violation of Sections 11, 12(a) (2) and 15 of the Securities Act of 1933 and Section 10(b), Rule 10b-5 and Section 20(a) of the Securities Exchange Act of 1934. Specifically, the complaint asserted that members of the plaintiff class purchased common stock at purportedly inflated prices during the period from November 28, 2001 to November 1, 2002 as a result of certain misstatements regarding the academic degree of the Company's chief executive officer.

COMPANY INFORMATION:

Sector: Financial
Industry: Misc. Financial Services
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: MCGC
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: E.D. Virginia
DOCKET #: 03-CV-0114
JUDGE: Hon. Leonie M. Brinkema
DATE FILED: 01/29/2003
CLASS PERIOD START: 11/28/2001
CLASS PERIOD END: 11/01/2002
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Cohen, Gettings & Caulkins, P.C.
    2200 Wilson Boulevard, Suite 800, Cohen, Gettings & Caulkins, P.C., VI 22201
    703.525.2260 703.525.2489 · info@cohengettings.com
No Document Title Filing Date
COURT: E.D. Virginia
DOCKET #: 03-CV-0114
JUDGE: Hon. Leonie M. Brinkema
DATE FILED: 06/16/2003
CLASS PERIOD START: 11/28/2001
CLASS PERIOD END: 11/01/2002
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Cauley Geller Bowman Coates & Rudman, LLP (New York)
    200 Broadhollow, Suite 406, Cauley Geller Bowman Coates & Rudman, LLP (New York), NY 11747
    631.367.7100 631.367.1173 ·
  2. Cohen, Gettings & Caulkins, P.C.
    2200 Wilson Boulevard, Suite 800, Cohen, Gettings & Caulkins, P.C., VI 22201
    703.525.2260 703.525.2489 · info@cohengettings.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