Case Page

 

Case Status:    SETTLED
On or around 12/18/2008 (Date of order of final judgment)

Filing Date: September 19, 2007

The original complaint alleges that Tube Media, and certain of its officers and directors, violated the Securities Exchange Act of 1934. During the class period, defendants made false public statements and omitted material information about Tube Media's failure to pay employee payroll taxes to the government. The Company also failed to account properly on its financial statements for compensation expense. Tube Media currently trades at $0.015.

On December 11, 2007, the Court granted the motion to appoint Brett Friedman, Trent and Kathy Martin, Wendy Rhodes Frisone, and Philip May as lead plaintiffs. Vianale & Vianale LLP was appointed as lead counsel. On January 14, 2008, the lead plaintiffs filed an Amended Class Action Complaint. In February 2008, defendants filed motions to dismiss the Amended Complaint. Before any ruling on the motions to dismiss, the parties filed a Settlement Agreement. According to the Agreement, the parties have agreed to the settle the action in the amount of $600,000, including any award of attorneys' fees and expenses. On June 30, 2008, the settlement was preliminarily approved. A Settlement Hearing will be held on October 3, 2008.

On October 3, 2008, the Settlement Hearing was held before U.S. District Judge Paul C. Huck. At the Hearing, the settlement was granted and the Lead Counsel was awarded 25% of the Gross Settlement, plus $39,446.72 in reimbursement of expenses. On December 18, 2008, Judge Huck issued the Final Judgment and Order of Dismissal with Prejudice. The case is now closed.

COMPANY INFORMATION:

Sector: Services
Industry: Broadcasting & Cable TV
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: TUBM
Company Market: OTC-BB
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: S.D. Florida
DOCKET #: 07-CV-61333
JUDGE: Hon. Paul C. Huck
DATE FILED: 09/19/2007
CLASS PERIOD START: 08/19/2005
CLASS PERIOD END: 05/10/2007
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Vianale & Vianale LLP (former Boca Raton)
    The Plaza - Suite 801, 5355 Town Center Road., Vianale & Vianale LLP (former Boca Raton), FL 33486
    561.391.4900 561.368.9274 · info@vianalelaw.com
No Document Title Filing Date
COURT: S.D. Florida
DOCKET #: 07-CV-61333
JUDGE: Hon. Paul C. Huck
DATE FILED: 01/14/2008
CLASS PERIOD START: 08/19/2005
CLASS PERIOD END: 11/21/2006
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Vianale & Vianale LLP (former Boca Raton)
    The Plaza - Suite 801, 5355 Town Center Road., Vianale & Vianale LLP (former Boca Raton), FL 33486
    561.391.4900 561.368.9274 · info@vianalelaw.com
No Document Title Filing Date