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Case Status:    DISMISSED    
On or around 03/21/2006 (Notice of voluntarily dismissal)

Filing Date: February 28, 2006

On March 21, 2006 the plaintiff voluntarily dismissed the case, which was then administratively closed.

According to a press release dated February 28, 2006, the complaint charges GrafTech and certain of its officers and directors with violations of the Securities Exchange Act of 1934. GrafTech provides synthetic and natural graphite and carbon-based products, as well as technical and R&D services. Its synthetic graphite products include: graphite electrodes, cathodes, and advanced synthetic graphite products.

Specifically, the complaint alleges that during the Class Period, defendants made materially false and misleading statements regarding the Company's business prospects, which served to artificially inflate the price of the Company's securities. Specifically, defendants knew and concealed that: (i) pricing power for the Company's graphite electrode products was nonexistent, particularly in the European markets; (ii) announced cost-cutting measures were insufficient to improve the Company's bottom line; (iii) contraction in the non-graphite market was contributing to the Company's financial woes; (iv) the Company was unable to accurately forecast growth and report guidance; and (v) the Company's inability to determine the required extent of its restructuring activities and charges necessary to counter the costs of its staggering debt and loss of pricing power grossly understated the true costs the Company would incur in restructuring.

The complaint further alleges that on or around February 8, 2006, GrafTech revealed the truth about its business prospects. As a result, the price of GrafTech shares plunged 37.0%, on unusually high volume, falling from $7.31 per share on February 8, 2006 to $4.60 per share on February 9, 2006, for a one-day drop of $2.71 per share, on volume of 9.8 million shares, nearly twelve times the average daily trading volume.

COMPANY INFORMATION:

Sector: Technology
Industry: Electronic Instruments & Controls
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: GTI
Company Market: New York SE
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. Delaware
DOCKET #: 06-CV-00133
JUDGE: Hon. Kent A. Jordan
DATE FILED: 02/28/2006
CLASS PERIOD START: 11/03/2005
CLASS PERIOD END: 02/08/2006
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Milberg Weiss Bershad & Schulman LLP (Delaware)
    919 N. Market Street, Suite 411, Milberg Weiss Bershad & Schulman LLP (Delaware), DE 19801
    302.984.0597 302.984.0870 · info@milbergweiss.com
  2. 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
  3. Scott & Scott LLC (Connecticut)
    P.O. Box 192, 108 Norwich Avenue, Scott & Scott LLC (Connecticut), CT 06415
    860.537.5537 860.537.4432 · scottlaw@scott-scott.com
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