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Case Status:    SETTLED
On or around 09/21/2006 (Date of order of final judgment)

Filing Date: February 12, 2004

According to the co-lead counsel's web site, on June 14, 2006, D&T agreed to pay $24,000,000 in cash to settle the claims against them. On June 14, 2006, Judge Wexler signed an Order granting preliminary approval of the proposed settlement and setting a Settlement Fairness Hearing for September 12, 2006 to determine, among other things, whether the proposed Settlement and Plan of Allocation are fair, reasonable, adequate and in the best interests of the class. On September 12, 2006, the Fairness Hearing was held and final approval of the Settlement was granted.

On February 12, 2004, a shareholder lawsuit against Deloitte & Touche LLP (“D&T”) in the U.S. District Court for the Eastern District of New York. This action was brought on behalf of any and all persons and entities that purchased Symbol Technologies common stock between March 2, 2000, and October 17, 2002 (the “Class Period”). In the Complaint, Lead Plaintiffs alleged violations of Section 10(b) of the Securities Exchange Act of 1934, and Rule 10b-5 promulgated thereunder. Specifically, Lead Plaintiffs alleged that during the Class Period, D&T, acting as Symbol’s auditor, made materially false statements and/or omissions regarding Symbol’s financial statements for the years ended December 31, 1999, 2000, and 2001.

NOTE: The Action was designated as a “Related Case” with a consolidated class action commenced in March 2002 against Symbol and certain of its officers and directors, captioned In re Symbol Technologies Litigation, Docket No. 02-CV-1383 (LDW), also filed in the U.S. District Court for the Eastern District of New York (the “Symbol Action”). The Symbol Action partially settled (the “Symbol Settlement”) and was granted final approval by the Court on October 14, 2004.


Sector: Technology
Industry: Computer Peripherals
Headquarters: United States


Ticker Symbol: SBL
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: E.D. New York
DOCKET #: 04-CV-00621
JUDGE: Hon. Leonard D. Wexler
DATE FILED: 02/12/2004
CLASS PERIOD END: 10/17/2002
  1. Berman DeValerio Pease Tabacco Burt & Pucillo (MA)
    One Liberty Square, Berman DeValerio Pease Tabacco Burt & Pucillo (MA), MA 02109
    617.542.8300 ·
  2. Bernstein Litowitz Berger & Grossmann LLP (Former New York)
    1285 Avenue of the Americas, 33rd Floor, Bernstein Litowitz Berger & Grossmann LLP (Former New York), NY 10019
    212.554.1400 212.554.1444 ·
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