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Case Status:    DISMISSED    
On or around 04/07/2006 (Other)

Filing Date: January 28, 2005

According to the latest docket posted, on January 19, 2006, the Court entered the Judgment dismissing the complaint with prejudice. On February 16, 2006, the plaintiffs filed a notice of appeal. On April 7, 2006, the Court entered the Judgment from the U.S. Court of Appeals for the Eighth Circuit. The joint motion for dismissal of the appeal is granted in according with the stipulation. The appeal is dismissed

In a press release dated January 17, 2006, the U.S. District Court for the District of Minnesota has dismissed in its entirety the consolidated securities class action complaint filed against the company, and certain officers and directors. The retailer added that plaintiffs have 30 days from the date judgment is entered in which to file a notice of appeal.

The action charges that defendants violated federal securities laws by issuing a series of materially false and misleading statements to the market throughout the Class Period, which statements had the effect of artificially inflating the market price of the Company's securities. More specifically, defendants failed to disclose that: (i) the Company's co-branded credit card program was faltering; (ii) the value of the Company's inventory was overstated, causing the Company's future margins to be negatively impacted; (iii) the Company's debt capacity was jeopardized and was inconsistent with defendants' growth plans; (iv) the Company was experiencing average trends with respect to its sales; and (v) defendants' projections of positive comparable sales growth of 3%-5% and pretax income of $13 million were materially misleading.

The complaint further alleges that on or around November 9, 2004, Gander Mountain announced it had "lowered its outlook for pretax income for fiscal 2004 to a range of $8 million to $13 million, compared with the company's prior guidance of $16 million to $21 million." On January 14, 2005, the Company issued a press release lowering its outlook for pretax income for fiscal 2004 even further, "to a range of $2.0 million to $4.0 million, compared with the company's prior guidance of $8 million to $13 million." As a result, Gander Mountain's shares plummeted to a close of $9.43. During the Class Period, Gander Mountain traded as high as $24.65.

COMPANY INFORMATION:

Sector: Services
Industry: Retail (Specialty)
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: GMTN
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. Minnesota
DOCKET #: 05-CV-00183
JUDGE: Hon. Donovan W. Frank
DATE FILED: 01/28/2005
CLASS PERIOD START: 04/20/2004
CLASS PERIOD END: 01/13/2005
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bernstein Liebhard & Lifshitz, LLP (New York)
    10 E. 40th Street, 22nd Floor, Bernstein Liebhard & Lifshitz, LLP (New York), NY 10016
    800.217.1522 · info@bernlieb.com
  2. Glancy Binkow & Goldberg LLP (NY)
    1501 Broadway, Suite 1416, Glancy Binkow & Goldberg LLP (NY), NY 10036
    917.510.000 646.366-089 · info@glancylaw.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. Lockridge, Grindal, Nauen P.L.L.P.
    Suite 301, 660 Pennsylvania Avenue Southeast, Lockridge, Grindal, Nauen P.L.L.P., DC 20003-4335
    202.544.9840 202.544.9850 ·
  5. 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
  6. Murray, Frank & Sailer LLP
    275 Madison Ave 34th Flr, Murray, Frank & Sailer LLP, NY 10016
    212.682.1818 212.682.1892 · email@murrayfrank.com
  7. Reinhardt, Wendorf & Blanchfield Attorneys at Law
    E-1000 First National Bank Building, 332 Minnesota Street, Reinhardt, Wendorf & Blanchfield Attorneys at Law, MN 55101
    800.465.1592 651.297.6543 · info@ralawfirm.com
  8. Schatz & Nobel, P.C.
    330 Main Street, Schatz & Nobel, P.C., CT 06106
    800.797.5499 860.493.6290 · sn06106@AOL.com
  9. Schiffrin & Barroway LLP
    3 Bala Plaza E, Schiffrin & Barroway LLP, PA 19004
    610.667.7706 610.667.7056 · info@sbclasslaw.com
  10. Seeger Weiss LLP (New York Old Address)
    40 Wall Street. The Trump Building, Seeger Weiss LLP (New York Old Address), NY 10005
    212.584.0700 · info@seegerweiss.com
  11. Smith & Smith LLP
    3070 Bristol Pike, Suite 112, Smith & Smith LLP, PA 19020
    215.638.4847 215.638.4867 ·
No Document Title Filing Date
COURT: D. Minnesota
DOCKET #: 05-CV-00183
JUDGE: Hon. Donovan W. Frank
DATE FILED: 08/09/2005
CLASS PERIOD START: 04/21/2004
CLASS PERIOD END: 01/14/2005
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Goodkind Labaton Rudoff & Sucharow LLP
    100 Park Avenue, Goodkind Labaton Rudoff & Sucharow LLP, NY 10017
    212.907.0700 212.818.0477 · info@glrslaw.com
  2. Head, Seifert & Vander Weide
    333 South Seventh Street, Suite 1140, Head, Seifert & Vander Weide, MN 55402
    612-339-1601 ·
  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