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Case Status:    SETTLED
On or around 01/18/2008 (Date of order of final judgment)

Filing Date: November 17, 2006

The original complaint charges Brantley and certain of its officers with violations of federal securities laws by making misrepresentations about the Company's valuation and financial statements. Brantley grossly overvalued its investment in a material asset. When properly valued, that asset was worth less than 1% when the Company valued it. As a result, the Company's stock fell from a Class Period high of approximately $12 per share to a price of approximately $2, and the Company has now started its intent to liquidate.

On June 4, 2007, the Court entered the Decision and Order granting the motion to transfer the case from the U.S. District Court for the Southern District of New York to the Northern District of Ohio. The Court further granted the motion to appoint Karpus Management, Inc. as lead plaintiff and approved lead plaintiff's selection of lead counsel.

On August 1, 2007, the lead plaintiff filed as Amended Complaint against all defendants. On September 21, 2007, the lead plaintiff filed a Second Amended Complaint. Soon after, the parties entered into settlement. On October 17, 2007, the Court entered the Order preliminarily approving the settlement and providing for notice. The settlement is in the amount of $3,750,000 in cash, plus interest. On December 17, 2007, the lead plaintiff filed a motion for final approval of the settlement. The Fairness Hearing was held before U.S. District Judge James S. Gwin on January 4, 2008. At the Hearing, Judge Gwin issued the Order approving the Plan of Allocation, granting fees and expenses and entered Judgment. The settlement was approved and the action dismissed with prejudice.

COMPANY INFORMATION:

Sector: Financial
Industry: Investment Services
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: BBDC
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. Ohio
DOCKET #: 06-CV-13315
JUDGE: Hon. Laura Taylor Swain
DATE FILED: 11/17/2006
CLASS PERIOD START: 08/14/2003
CLASS PERIOD END: 10/24/2005
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Wechsler Harwood LLP
    488 Madison Avenue 8th Floor, Wechsler Harwood LLP, NY 10022
    212.935.7400 · info@whhf.com
No Document Title Filing Date
COURT: N.D. Ohio
DOCKET #: 07-CV-01716
JUDGE: Hon. Laura Taylor Swain
DATE FILED: 09/21/2007
CLASS PERIOD START: 08/01/2002
CLASS PERIOD END: 10/24/2005
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Law Office of William Coudert Rand
    19 West 44th Street, Suite 1615, Law Office of William Coudert Rand, NY 10036
    212.609.5058 ·
No Document Title Filing Date