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Case Status:    DISMISSED    
On or around 03/16/2012 (Notice of voluntarily dismissal)

Filing Date: December 14, 2010

According to the complaint filed December 14, 2010, the Individual Defendants agreed to sell the Company to the Buyout Group at an unfair price in order to gain lucrative benefits for themselves, as well as other Company insiders, to the detriment of the Company’s public shareholders.

Specifically, the Company's Chairman and Chief Executive Officer, has entered into a rollover agreement with the Buyout Group pursuant to which Drexler has agreed to contribute 2,287,545 shares of Company common stock (the equivalent of a $99,508,207.50 investment based upon the per share merger consideration of $43.50 per share) to the Buyout Group in exchange for equity securities in the post-merger company.

According to the Stipulation and Order to Stay Action filed on April 6, 2011, by and between the parties, through their respective counsel of record, that: This action shall be stayed pursuant to the terms hereof until a "Substantial Development" occurs in the Delaware Action. For purposes of this stipulation, a Substantial Development shall refer to a final resolution in the Delaware Action on whether the MOU is enforceable, a final, non-appealable judgment in the Delaware Action or a binding, court approved settlement of the Delaware Action.

On March 16, 2012, Plaintiff voluntarily dismissed this action as to all defendants, with prejudice, pursuant to Rule 41(a)(1)(A) of the Federal Rules of Civil Procedure.


Sector: Services
Industry: Retail (Apparel)
Headquarters: United States


Ticker Symbol: JCG
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: S.D. New York
DOCKET #: 10-CV-09328
JUDGE: Hon. Naomi Reice Buchwald
DATE FILED: 12/14/2010
CLASS PERIOD END: 12/14/2010
  1. Levi & Korsinsky, LLP
    30 Broad Street, 15 1h Floor, Levi & Korsinsky, LLP, NY 10004
    212.363.7500 212.363-7171 ·
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