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Case Status:    DISMISSED    
On or around 03/29/2012 (Date of order of final judgment)

Filing Date: September 11, 2009

According to a press release dated September 11, 2009, the complaint alleges that, throughout the Class Period, defendants made numerous positive statements regarding the Company's financial condition, business and prospects. The complaint further alleges that these statements were materially false and misleading because defendants failed to disclose the following adverse facts, among others: (i) that the Company was in a pricing dispute with one of its Original Equipment Manufacturer (“OEM”) customers, which would cost the Company approximately $3 million; (ii) that the Company was experiencing a decrease in sales in the European and Asian markets due to decreased demand for the Company’s products; (iii) that the Company was experiencing operating margin pressure due to slower sales in its OEM supply business, which traditionally produce higher operating margins; and (iv) as a result of the foregoing, defendants lacked a reasonable basis for their positive statements about the Company and its prospects.

On October 21, 2008, Anixter announced its financial results for the third quarter of 2008, the period ending September 26, 2008. For the quarter, the Company reported sales of $1.59 billion and net income of $61.7 million, or $1.58 per diluted share. In response to this announcement, the price of Anixter common stock fell $18.76 per share, or approximately 40%, over the next five trading days, to close at $29.06 per share, on October 27, 2008, on heavy trading volume.

On November 18, 2009, the Court entered the Minute Entry before the Honorable Robert M. Dow, Jr. The Indiana Laborers Pension Fund has been appointed Lead Plaintiff and Lead Plaintiff’s selection of Lead and Liaison Counsel was approved. Coughlin Stoia Geller Rudman & Robbins LLP is appointed Lead Counsel for the class and Lasky & Rifkind, Ltd. is appointed Liaison Counsel. Plaintiff has been given until January 6, 2010 to file a consolidated complaint. On January 6, 2010, the plaintiffs filed an Amended Class Action Complaint. On February 19, 2010, the defendants filed a motion to dismiss the Amended Complaint.

On March 31, 2011, the Court entered the Memorandum Opinion and Order, Defendants’ motion to dismiss is granted and Plaintiffs complaint is dismissed without prejudice. Plaintiffs are given 28 days to replead if they believe that they can cure the deficiencies.

On April 28, 2011, the plaintiffs filed a Second Amended Complaint. The defendants responded by filing a motion to dismiss on May 26, 2011.

On March 29, 2012, the Court entered the Memorandum Opinion and Order, Defendants’ motion to dismiss is granted and Plaintiff's Second Amended Complaint is dismissed with prejudice.

COMPANY INFORMATION:

Sector: Technology
Industry: Electronic Instruments & Controls
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: AXE
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: N.D. Illinois
DOCKET #: 09-CV-05641
JUDGE: Hon. Robert M. Dow, Jr
DATE FILED: 09/11/2009
CLASS PERIOD START: 01/29/2008
CLASS PERIOD END: 10/20/2008
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Coughlin Stoia Geller Rudman & Robbins LLP (Melville)
    58 South Service Road, Suite 200, Coughlin Stoia Geller Rudman & Robbins LLP (Melville), NY 11747
    631.367.7100 631.367.1173 · info@csgrr.com/
  2. Miller Law LLC
    115 S. LaSalle Street, Suite 2910, Miller Law LLC, IL 60603
    312.676.2665 · info@MillerLawLLC.com
  3. VanOverbeke Michaud & Timmony, P.C.
    79 Alfred Street, VanOverbeke Michaud & Timmony, P.C., MI 48201
    313.578.1200 313.578.1200 ·
No Document Title Filing Date
COURT: N.D. Illinois
DOCKET #: 09-CV-05641
JUDGE: Hon. Robert M. Dow, Jr
DATE FILED: 04/28/2011
CLASS PERIOD START: 01/29/2008
CLASS PERIOD END: 10/20/2008
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Robbins Geller Rudman & Dowd LLP (San Diego)
    655 West Broadway, Suite 1900, Robbins Geller Rudman & Dowd LLP (San Diego), CA 92101
    619.231.1058 619.231.7423 ·
  2. Robbins Geller Rudman & Dowd LLP (San Francisco)
    100 Pine Street, Suite 2600, Robbins Geller Rudman & Dowd LLP (San Francisco), CA 94111
    415.288.4545 415.288.4534 ·
No Document Title Filing Date