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Case Status:    SETTLED
On or around 10/20/2005 (Date of order of final judgment)

Filing Date: May 02, 2001

Settlement entered its initials stages on April 27, 2005 when the judge prematurely ruled the case dismissed in light of a pending settlement. On July 6, 2005 a stipulation of settlement was filed, providing a settlement fund of $20,000,000. The settlement was finalized and the case was ordered closed on October 20, 2005. Attorneys were awarded fees and expenses in the amount of $6,267,539.19. The total amount of the settlement was funded through Amazon.com's insurers.

Plaintiffs filed their First Consolidated Amended Complaint on June 19, 2001. Defendants filed a motion to dismiss, which was granted in part. Plaintiffs amended their allegations with regards to the Section 11 claims on April 8, 2005. Defendants again moved for dismissal and were again successful, in part. The judge decried on January 6, 2003 that the Section 11 claims against Amazon.com were insufficiently pleaded and were dismissed, leaving only the Section 12a and 15 claims.

On May 21, 2001 the judge granted Sagamore's motion to be appointed lead plaintiff. However, that order was reversed after Argent Classic Convertible Arbitrage Fund's motion to intervene as lead plaintiff was granted on June 14, 2001.

The original complaint, filed by Sagamore Hill Capital Management on May 5, 2001, on behalf of purchasers of 6.875% Premium Adjustable Convertible Securities, charges Amazon.com, certain of its officers and directors and several underwriters of providing materially false and misleading information regarding the revenues to be received by Amazon under agreements reached between the Company and its partners, termed the "Amazon Commerce Network." The complaint alleges that Amazon disseminated misleading press releases announcing agreements between Greenlight.com, Drugstore.com, Audible, Inc., and Living.com suggesting that these partnerships would boost Amazon's revenues by $362.5 million over a three year period.

COMPANY INFORMATION:

Sector: Services
Industry: Retail (Catalog & Mail Order)
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol:
Company Market: Undetermined
Market Status: Unknown

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 #: 01-CV-00640
JUDGE: Hon. Robert S. Lasnik
DATE FILED: 05/02/2001
CLASS PERIOD START: 02/07/2000
CLASS PERIOD END: 10/24/2000
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Squitieri & Fearon LLP (New York)
    420 5th Avenue, 18th Floor, Squitieri & Fearon LLP (New York), NY 10018
    212.575.2092 212.575.2184 · lee@sfclasslaw.com
No Document Title Filing Date
COURT: W.D. Washington
DOCKET #: 01-CV-00640
JUDGE: Hon. Robert S. Lasnik
DATE FILED: 04/08/2002
CLASS PERIOD START: 02/07/2000
CLASS PERIOD END: 10/24/2000
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Kirby McInerney & Squire LLP
    830 Third Avenue 10th Floor, Kirby McInerney & Squire LLP, NY 10022
    212.317.2300 ·
  2. Squitieri & Fearon LLP (New York)
    420 5th Avenue, 18th Floor, Squitieri & Fearon LLP (New York), NY 10018
    212.575.2092 212.575.2184 · lee@sfclasslaw.com
No Document Title Filing Date