On or around 09/20/2011 (Other)
Filing Date: September 02, 2010
According to the complaint filed September 02, 2010, on a August 04, 2010, a 2010 DG FastChannel conference call was conducted in which the defendants touted the Company’s performance for the second quarter, but did not reveal that the Company had any significant business problems that should have been disseminated to the investing public.
On November 23, 2010, the Court issued a Memorandum and Order consolidating the cases and appointing lead plaintiff and lead counsel. On January 24, 2011, the lead plaintiff filed a Consolidated Amended Class Action Complaint against the defendants.
On June 17, 2011, the plaintiffs filed a motion for preliminary approval of the proposed class action settlement. The proposed settlement is in the amount of $2 million in cash. On June 22, 2011, the settlement was preliminarily approved. The settlement is scheduled to be held on September 13, 2011.
Company & Securities Information
Defendant: DG FastChannel, Inc.
Headquarters: United States
Ticker Symbol: DGIT
Company Market: NASDAQ
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.
First Identified Complaint
Joel Sean Duncan, et al. v. Scott Ginsburg, et al.