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Case Status:    SETTLED
On or around 06/05/2013 (Date of order of final judgment)

Filing Date: May 11, 2010

According to a press release dated May 11, 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 a significant disruption in its private label business and a related decrease in demand for its private label products; (ii) that the Company’s advertising costs were escalating far in excess of the Company’s internal forecasts; and (iii) as a result of the foregoing, defendants lacked a reasonable basis for their positive statements about the Company and its prospects.

On April 27, 2010, the Company issued a press release announcing its financial results for the fiscal second quarter of 2010, the period ended March 31, 2010. The Company announced that its private label sales accounted for only 38% of wholesale sales in the fiscal second quarter of 2010, compared to 42% of wholesale sales in the fiscal second quarter of 2009 – a decline of 4%. Moreover, according to the press release, net income was “adversely affected by the Company's increased television advertising to support its Nature's Bounty, Osteo Bi Flex, Ester C and Pure Protein brands.”

In response to the unexpected rise in advertising costs and a slowdown of sales in its private label business, shares of the Company’s stock fell $9.66 per share, or 21%, to close at $37.24 per share, on unusually heavy trading volume.

By the Order entered on November 29, 2010, Senior Judge Leonard D. Wexler granted the motion to appoint John F. Hutchins as Lead Plaintiff for the class. The law firms of Robbins Geller Rudman & Dowd LLP and Holzer Holzer & Fistel LLC are hereby appointed Lead Counsel for the Class. The Lead Plaintiff filed an Amended Complaint on February 1, 2011. The defendants responded by filing a motion to dismiss on June 1, 2011.

On March 30, 2012, Senior Judge Leonard D. Wexler denied the defendants' motion to dismiss.

On February 11, 2013, the parties entered into a Stipulation of Settlement. This Settlement was preliminarily approved by the Court 2 days later. On June 5, the Court issued a Final Judgment and ordered this case dismissed with prejudice. The Final Judgment was followed by an Order approving the Plan of Distribution of Settlement Proceeds. Finally, the Court issued an Order awarding attorneys' fees and expenses.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Biotechnology & Drugs
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: NTY
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: E.D. New York
DOCKET #: 10-CV-02159
JUDGE: Hon. Leonard D. Wexler
DATE FILED: 05/11/2010
CLASS PERIOD START: 11/09/2009
CLASS PERIOD END: 04/26/2010
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, LLC
    1117 Perimeter Center West, Suite E-107, Holzer & Holzer, LLC, GA 30338
    770.392.0090 770.392-0029 · mfistel@holzerlaw.com
  3. 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 ·
No Document Title Filing Date
COURT: E.D. New York
DOCKET #: 10-CV-02159
JUDGE: Hon. Leonard D. Wexler
DATE FILED: 02/01/2011
CLASS PERIOD START: 11/09/2009
CLASS PERIOD END: 04/26/2010
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 ·
No Document Title Filing Date