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In re Network Associates, Inc. Securities Litigation II
(United States District Court for the
Northern District of California)
On February 11, 2004, the
Honorable Martin J. Jenkins of the United States District Court for the
Northern District of California approved the $70 million cash settlement, approved the Plan of
Allocation and issued the Final Judgment and Order of Dismissal.
This securities fraud class action was filed on behalf of
all purchasers of Network Associates, Inc. common stock during the period from April 15, 1999
to December 26, 2000. The Complaint asserts that Network Associates' financial statements for
fiscal 1998, 1999 and 2000 were misstated in a scheme to artificially inflate the value of
Network Associates' common stock during the Class Period. The Court certified, for purposes
of effectuating the settlement, a Settlement Class defined as all persons and entities
(other than those Persons who timely and validly request exclusion from the Class) who
purchased Network Associates common stock on the open market between April 15, 1999 through
December 26, 2000, inclusive, and who were damaged thereby.
BLB&G, as Lead Counsel for the class, represents court-appointed Lead Plaintiff
the Teachers' Retirement System of Louisiana in the action.
In order to
be eligible to share in the settlement benefits, class members must have submitted
a completed and signed proof of claim form, postmarked on or before March 2, 2004.
For additional information, contact the Claims Administrator, The Garden City Group, Inc. at 877-824-5825.
Firm partner Blair Nicholas,
former partner Robert Gans and Senior Counsel
Timothy Delange are responsible for
prosecuting this action.
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