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Case ID: 3419 | Stocks | 05/18/2004
The parties have reached a tentative $1 million settlement in a class action filed against Cheap Tickets, Inc., on behalf of stockholders who held the company's common stock between August 13, 2001, and October 5, 2001. The action claimed that the defendants violated federal securities laws by breaching their fiduciary duties to shareholders in connection with the sale of Cheap Tickets to Cendant Corporation. Persons eligible to take part in the action must submit claim forms postmarked by July 30, 2004, to receive a share of the settlement.
There were about 24,336,701 shares of stock held on the effective date of the merger and 306,002 shares were not tendered in response to the tender offer. After all class members who did not respond to the tender offer have sent in their claim forms, the payment you get will reflect your pro rata share after deduction of court-approved fees and expenses. If every eligible class member sends in a valid claim form, the average payment will be approximately $1.96 for each share. The number of claimants who send in claims varies widely from case to case. If less than 100% of eligible class members send in a claim form, you could get more money. Any questions about the settlement may be directed to: Cheap Tickets Shareholder Litigation The settlement will not be effective until the court grants it final approval. The court has scheduled a hearing on the matter for June 30, 2004. At Lawcash.com, it is our goal to keep you informed about important legal cases, class actions and settlements. Our lawyers offer free legal evaluations in tort cases, class actions, personal injury, and other lawsuits because we are dedicated to helping you resolve your legal complaints. Other Stocks Cases of Interest Several class actions have been filed against hospital management company Universal Health Services, Inc. (NYSE:UHS) and certain of its officers and directors by stockholders who purchased the company's common stock between July 21, 2003, and February 27, 2004. The actions claim that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company's securities. Several class actions have been filed against amorphous alloy manufacturer Liquidmetal Technologies, Inc. (Nasdaq:LQMTE) and certain of its officers and directors by stockholders who purchased the company's common stock between May 21, 2002, and March 30, 2004, including those who acquired shares pursuant to the company’s May 21, 2002, initial public offering. The actions claim that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company's securities. The stockholders seek to recover compensatory damages for the loss of value of their stock. The parties have reached a tentative $1.25 million settlement in a class action filed against MiniMed, Inc., and certain of its officers and directors by stockholders who held the company's common stock as of July 16, 2001. Persons eligible to participate in the settlement must submit a proof of claim form postmarked no later than September 13, 2004. A class action has been filed in the District Court of Maryland against RS Diversified Growth Fund, et al and certain of its officers and directors by stockholders who purchased the company’s common stock between October 6, 1999 and October 5, 2004. The action claims that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company’s securities. The stockholders seek to recover compensatory damages for the loss of value of their stock. On May 16, 2008, an order denying motion to appoint a certain individual as lead plaintiff and counsel was entered. Just as quickly, an order granting certain individuals as lead plaintiffs and counsels was entered on May 20, 2008. In addition, on May 21, 2008, a motion to consolidate lead case No. 08-687 and member case no. 08-1472 was filed. As a result, an order granting motion to consolidate lead case No. 08-687 was entered on May 22, 2008.
Several class actions have been filed against infrastructure service provider MasTec, Inc. (NYSE:MTZ) and certain of its officers and directors by stockholders who purchased the company's common stock between May 13, 2003, and April 12, 2004. The actions claim that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company's securities. |
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