Case Page

 

Case Status:    DISMISSED    
On or around 09/24/2013 (Other)

Filing Date: August 09, 2011

According to a complaint filed on August 9, 2011, the defendants violated federal securities laws when releasing positive statements about the Company’s performance.

The plaintiffs allege that statements made by the Company from April, 2011, through June, 2011 concerning the Company’s performance artificially inflated the share prices. Among the public statements included presenting, or condoning such presentations, at investment conferences across the country, hosted by the nation's leading brokerage houses.

July 21, 2011, defendants revealed to investors, for the first tune, that the
Company was performing well below expectations, with costs and expenses well above plan and with revenues well below. Shares of the Company immediately collapsed, falling approximately $30.00 per share, or 30 percent, to $60.00 per share in morning trading on the Nasdaq, after touching a low of $57.48 per share.

On November 23, 2011, the Court issued an Order consolidating related actions, appointing lead plaintiff, and approving the selection of lead counsel. On January 6, 2012, the lead plaintiffs filed their consolidated and amended complaint.

On March 29, 2013, a Memorandum Decision and Order was issued by the Court Granting the Defendants' motions to dismiss. On the same day, an accompanying judgment was issued by the Clerk. On April 25, the lead plaintiffs filed a Notice of their decision to appeal the dismissal. This appeal was withdrawn by the parties on September 24.

COMPANY INFORMATION:

Sector: Services
Industry: Personal Services
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: TZOO
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: S.D. New York
DOCKET #: 11-CV-05531
JUDGE: Hon. George B. Daniels
DATE FILED: 08/09/2011
CLASS PERIOD START: 04/21/2011
CLASS PERIOD END: 07/21/2011
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Kahn Swick & Foti, LLC (Madisonville)
    206 Covington Street, Kahn Swick & Foti, LLC (Madisonville), LA 70447
    (504) 455-1400 (504) 455-1498 ·
  2. Kahn Swick & Foti, LLC Former New York)
    500 Fifth Avenue, Ste. 1810, Kahn Swick & Foti, LLC Former New York), NY 10110
    212.696.3730 504.455-1498 ·
No Document Title Filing Date
COURT: S.D. New York
DOCKET #: 11-CV-05531
JUDGE: Hon. George B. Daniels
DATE FILED: 01/06/2012
CLASS PERIOD START: 03/16/2011
CLASS PERIOD END: 07/21/2011
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bernstein Liebhard LLP (New York)
    10 East 40th Street, 22nd Floor, Bernstein Liebhard LLP (New York), NY 10016
    212.779.1414 212.779.1414 ·
No Document Title Filing Date