Case Page

 

Case Status:    DISMISSED    
On or around 05/27/2008 (Court's order of dismissal)

Filing Date: July 28, 2006

The original complaint alleges that FoxHollow, and certain of its officers and directors, violated Section 10(b) and Section 20(a) of the Securities Exchange Act of 1934. FoxHollow engages in the manufacture and sale of a medical device, called the SilverHawk, used to treat artery disease. Specifically, the complaint alleges that, during the Class Period, defendants issued materially false and misleading statements that misrepresented or concealed adverse facts, including that FoxHollow's Chairman had directed management to acquire another private company, called Lumend, for his own benefit and ultimately caused the Company to terminate certain senior management based on their refusal to go along with the acquisition. When FoxHollow announced that members of its senior management, including the CEO, COO and VP of Sales were being replaced, in December 2005 and January 2006, the price of FoxHollow's stock dropped nearly 50% on extremely heavy volume.

On October 26, 2006, the Court issued the Order signed by Judge Hamilton consolidating the related cases and appointing lead plaintiffs and lead counsel. On December 15, 2006, a Consolidated Complaint was filed, and the defendants responded by filing a motion to dismiss the Consolidated Complaint. On September 11, 2007, the Court entered the Order granting the defendants’ motion to dismiss the Consolidated Complaint without prejudice. The plaintiffs were granted leave to amend and file a First Amended Complaint on or before October 5, 2007. On October 19, 2007, a First Amended Complaint was filed and the defendants responded by filing a motion to dismiss the First Amended Complaint on November 19, 2007.

On May 27, 2008, U.S. District Judge Phyllis J. Hamilton granted the defendants’ motion to dismiss the First Amended Complaint. Judgment was further entered that day and the action was dismissed. On June 20, 2008, the plaintiff filed a Notice of Appeal from the Order and Judgment dismissing the action. The appeal is currently pending in the Ninth Circuit Court of Appeals.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Medical Equipment & Supplies
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: FOXH
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 #: 06-CV-04595
JUDGE: Hon. Phyllis J. Hamilton
DATE FILED: 07/28/2006
CLASS PERIOD START: 05/13/2005
CLASS PERIOD END: 01/26/2006
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Brower Piven (Baltimore)
    The World Trade Center-Baltimore. 401 East Pratt Street, Suite 2525, Brower Piven (Baltimore), MD
    410.332.0030 410.685.1300 · info@browerpiven.com
  2. Cotchett Pitre Simon & McCarthy
    San Francisco Airport Office Center, 840 Malcolm Road, Suite 200, Cotchett Pitre Simon & McCarthy, CA 94010
    650.697.6000 650.697.0577 · info@cpsmlaw.com
  3. Federman & Sherwood (Oklahoma City)
    120 North Robinson, Suite 2720, Federman & Sherwood (Oklahoma City), OK 73102
    405-235-1560 · wfederman@aol.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. 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
COURT: N.D. California
DOCKET #: 06-CV-04595
JUDGE: Hon. Phyllis J. Hamilton
DATE FILED: 10/19/2007
CLASS PERIOD START: 08/25/2005
CLASS PERIOD END: 01/26/2006
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Brower Piven (Baltimore)
    The World Trade Center-Baltimore. 401 East Pratt Street, Suite 2525, Brower Piven (Baltimore), MD
    410.332.0030 410.685.1300 · info@browerpiven.com
  2. Brower Piven (New York)
    488 Madison Avenue. Eighth Floor, Brower Piven (New York), NY 10022
    212.501.9000 212.501.0300 · info@browerpiven.com
  3. Cotchett Pitre Simon & McCarthy
    San Francisco Airport Office Center, 840 Malcolm Road, Suite 200, Cotchett Pitre Simon & McCarthy, CA 94010
    650.697.6000 650.697.0577 · info@cpsmlaw.com
No Document Title Filing Date
No Document Title Filing Date
No Document Title Filing Date