>Amazon Settlement
Date Filed: March 27, 2001
Court: U.S. District Court
Location: Washington
Ticker Symbol: NASDAQ:AMZN
Hagens Berman (now Hagens Berman Sobol Shapiro) filed a class-action suit that charges Amazon with announcing favorable results for the fourth quarter of 1999 and partnerships that would represent $500 million in revenue over the next five years, while concealing from shareholders that payments from these partnerships would be in stock and the actual receipt of this value was uncertain at best. The suit was filed on behalf of all purchasers of Amazon.com, Inc. common stock during the period from February 2, 2000 through March 9, 2001, and seeks to recover damages during this class period.
Court: U.S. District Court
Location: Washington
Ticker Symbol: NASDAQ:AMZN
Hagens Berman (now Hagens Berman Sobol Shapiro) filed a class-action suit that charges Amazon with announcing favorable results for the fourth quarter of 1999 and partnerships that would represent $500 million in revenue over the next five years, while concealing from shareholders that payments from these partnerships would be in stock and the actual receipt of this value was uncertain at best. The suit was filed on behalf of all purchasers of Amazon.com, Inc. common stock during the period from February 2, 2000 through March 9, 2001, and seeks to recover damages during this class period.
The federal court overseeing this class action largely rejected Amazon's motion to dismiss the claims against it. Hagens Berman's investigation of Amazon's misconduct is proceeding.
This suit is now settled. For more information on the terms of the settlement, contact Hagens Berman Sobol Shapiro at info@hbsslaw.com.
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