Case Page

 

Case Status:    DISMISSED    
On or around 01/03/2011 (Stipulation and order of dismissal (voluntary dismissal))

Filing Date: September 22, 2010

According to the complaint filed on September 24, 2010, despite the successful implementation of their new strategy under the leadership of the President and Chief Executive Officer of Phoenix and the Company's promise and poise for growth, the Company agreed to enter into the Proposed Transaction with Marlin Equity Partners.

Given the Company's recent performance and future prospects, the consideration shareholders are to receive is inadequate. Accordingly, Marlin is picking up Phoenix Technologies at the most opportune time, at a time when Phoenix Technologies is poised for growth and its stock price is trading at a huge discount to its intrinsic value.

On December 29, 2011, the parties filed a Stipulation and Proposed Order for Dismissal Without Prejudice. The case was dismissed without prejudice by the Order signed by Judge Claudia Wilken on January 3, 2011.

COMPANY INFORMATION:

Sector: Technology
Industry: Software & Programming
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: PTEC
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.
COURT: N.D. California
DOCKET #: 10-CV-04271
JUDGE: Hon. Claudia Wilken
DATE FILED: 09/22/2010
CLASS PERIOD START: 08/17/2010
CLASS PERIOD END: 08/17/2010
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bramson, Plutzik, Mahler & Birkhaeuser, LLP
    2125 Oak Grove Road, Suite 120, Bramson, Plutzik, Mahler & Birkhaeuser, LLP, CA 94598
    925.945.0200 925.945-8792 · info@bramsonplutzik.com
  2. Levi & Korsinsky, LLP
    30 Broad Street, 15 1h Floor, Levi & Korsinsky, LLP, NY 10004
    212.363.7500 212.363-7171 ·
No Document Title Filing Date