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Case Status:    DISMISSED    
On or around 03/08/2010 (Court's order of dismissal)

Filing Date: December 06, 2006

Filed on April 24, 2007, the amended complaint alleges that certain private equity fund defendants acquired WatchGuard by assembling ownership positions on insider information in violation of the federal securities laws.

The amended class action complaint was filed on behalf of: a) shareholders of WatchGuard Technologies, Inc. (NASDAQ:WGRD) that cashed out or tendered their WatchGuard shares pursuant to the October 4, 2006 "going private" transaction, and b) shareholders that purchased WatchGuard common stock from March 14, 2006 through March 22, 2006 (the class period). Plaintiff seeks to recover damages on behalf of the punitive members of the class.

On June 25, 2007 defendants filed a motion to dismiss the amended complaint against them. Additionally, on July 27, 2007 the judge entered an order appointing Pennsylvania Avenue Funds as lead plaintiff. On July 27, 2007, the Court entered the Order granting the plaintiff’s motion to appoint the Pennsylvania Avenue Funds as Lead Plaintiff and its choice of lead counsel.

According to an article dated March 15, 2008, on February 13, 2008, the U.S. District Court for the Western District of Washington granted a defendant company's motion to dismiss a securities fraud class action for lack of scienter.

On April 16, 2008, a Second Amended Complaint was filed with the court. On March 30, 2009, an Order by the court granted the Defendants’ motions to dismiss the complaint with prejudice and without leave to amend.

COMPANY INFORMATION:

Sector: Technology
Industry: Software & Programming
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: WGRD
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: W.D. Washington
DOCKET #: 06-CV-01737
JUDGE: Hon. Monica J. Benton
DATE FILED: 12/06/2006
CLASS PERIOD START: 03/14/2006
CLASS PERIOD END: 03/22/2006
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Finkelstein & Krinsk LLP
    501 West Broadway, Suit 1250, Finkelstein & Krinsk LLP, CA 92101
    877.493.5366 619.238.5425 ·
No Document Title Filing Date
COURT: W.D. Washington
DOCKET #: 06-CV-01737
JUDGE: Hon. Monica J. Benton
DATE FILED: 04/16/2008
CLASS PERIOD START: 03/14/2006
CLASS PERIOD END: 03/22/2006
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Finkelstein & Krinsk LLP
    501 West Broadway, Suit 1250, Finkelstein & Krinsk LLP, CA 92101
    877.493.5366 619.238.5425 ·
No Document Title Filing Date