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 & Securities Information
Defendant: MCG Capital Corporation
Industry: Misc. Financial Services
Headquarters: United States
Ticker Symbol: MCGC
Company Market: NASDAQ
Market Status: Public (Listed)
About the Company & Securities Data
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First Identified Complaint
Charles Greenhouse, et al. v. MCG Capital Corporation, et al.