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Case Status:    DISMISSED    
On or around 04/29/2011 (Notice of voluntarily dismissal)

Filing Date: April 15, 2011

According to a press release dated April 7, 2011, on April 13, 2010, the Company engaged KPMG to be its accountant. When conducting the audit for FY 2010, KPMG disagreed with the Company over the Company’s accounting treatment of reserves for account receivables and revenue recognition, preventing KPMG from issuing an unqualified opinion. The Company refused to alter the accounting treatment of these entries, and dismissed KPMG on April 6, 2011. On April 7, 2011, the Company’s stock price fell over 25%, damaging investors.

On April 15, 2011, a Federal Securities Class Action was filed against Artificial Life, Inc., in the Central District of California, Western Division.

On April 29, 2011, the plaintiff filed notice that the action is dismissed without prejudice pursuant to FRCP 41(a)(1).

COMPANY INFORMATION:

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

SECURITIES INFORMATION:

Ticker Symbol: ALIFE
Company Market: OTC-BB
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: C.D. California
DOCKET #: 11-CV-03254
JUDGE: Hon.Margaret M. Morrow
DATE FILED: 04/15/2011
CLASS PERIOD START: 05/14/2010
CLASS PERIOD END: 04/11/2011
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. The Rosen Law Firm, P.A.
    333 South Grand Avenue, 25th Floor, The Rosen Law Firm, P.A., CA 90071
    213.785.2610 213.226-4684 ·
  2. The Rosen Law Firm, P.A. (New York)
    350 Fifth Avenue, Suite 5508, The Rosen Law Firm, P.A. (New York), NY 10118
    212.686.1060 212.202.3827 · lrosen@rosenlegal.com
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