Case Page

 

Case Status:    DISMISSED    
On or around 08/03/2011 (Date of order of final judgment)

Filing Date: April 14, 2010

According to a press release dated April 14, 2010, the complaint alleges that, throughout the Class Period, defendants failed to disclose material adverse facts about the Company’s true financial condition, business and prospects. Specifically, the complaint alleges that defendants failed to disclose: (i) that the Company was experiencing increasing competition which was forcing it to dramatically lower prices in order to continue to generate sales in line with internal expectations; (ii) that as a result of increased competition, the Company was being forced to raise expenditures associated with acquiring new customers far in excess of internal expectations; (iii) that the Company was experiencing significant issues with its sales force which were further complicating and exacerbating the negative impact of slowing sales; and (iv) that, based on the foregoing, defendants lacked a reasonable basis for their positive statements about the Company, its prospects and growth.

On April 7, 2010, the Company announced its preliminary financial results for the first quarter of 2010, the period ended March 31, 2010. Upon the disappointing announcement, shares of the Company’s stock fell $4.54 per share, or 26%, to close at $13.02 per share, on unusually heavy trading volume.

On June 24, 2010, an Order was issued by the Court based upon a Joint Stipulation Regarding Appointment of Lead Plaintiff and Approval of Selection of Lead Counsel and Liaison Counsel.

Also on June 24, 2010, an accompanying Order was issued by the Court Consolidating the separate actions of the lead plaintiffs for pre-trial purposes. Each file will maintain its own court file number.

On August 10, 2010, a Consolidated Complaint for Violation of The Federal Securities Laws was filed by the co-lead plaintiffs.

COMPANY INFORMATION:

Sector: Technology
Industry: Computer Services
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: CML
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: D. Minnesota
DOCKET #: 10-CV-01525
JUDGE: Hon. Patrick J. Schiltz
DATE FILED: 04/14/2010
CLASS PERIOD START: 10/28/2009
CLASS PERIOD END: 04/07/2010
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Holzer Holzer & Fistel, LLC (Atlanta)
    200 Ashford Center North, Suite 300, Holzer Holzer & Fistel, LLC (Atlanta), GA 30338
    770.392.0090 770.392.0090 ·
  2. Robbins Geller Rudman & Dowd LLP (Melville)
    58 South Service Road, Suite 200, Robbins Geller Rudman & Dowd LLP (Melville), NY 11747
    631.367.7100 631.367.1173 ·
  3. Zimmerman Reed, LLP
    1100 IDS Center, 80 South 8th Street , Zimmerman Reed, LLP, MN 55402
    612.341.0400 612.341.0844 · info@zimmreed.com
No Document Title Filing Date
COURT: D. Minnesota
DOCKET #: 10-CV-01566
JUDGE: Hon. Patrick J. Schiltz
DATE FILED: 04/15/2010
CLASS PERIOD START: 10/28/2009
CLASS PERIOD END: 04/07/2010
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Dyer & Berens LLP
    303 East 17th Avenue, Suite 300, Dyer & Berens LLP, CO 80203
    303.861.1764 303.861.1764 ·
  2. Holzer Holzer & Fistel, LLC (Atlanta)
    200 Ashford Center North, Suite 300, Holzer Holzer & Fistel, LLC (Atlanta), GA 30338
    770.392.0090 770.392.0090 ·
  3. Zimmerman Reed, LLP
    1100 IDS Center, 80 South 8th Street , Zimmerman Reed, LLP, MN 55402
    612.341.0400 612.341.0844 · info@zimmreed.com
No Document Title Filing Date