June 28, 2012 - The court approved the settlement, entered the orders approving the plan of allocation, the motion for attorneys’ fees and expenses, and dismissed the action with prejudice.
November 30, 2011 - The court held a final settlement hearing.

September 6, 2011 - The court preliminarily approved the settlement.

July 13, 2011 - Parties filed a stipulation of settlement.

June 2, 2010 - The court denied the defendants' motions to dismiss.

October 18, 2010 - The lead plaintiff filed a second amended complaint.

February 11, 2010 - The defendants filed motions to dismiss.

January 11, 2010 - The lead plaintiff filed an amended complaint.

January 7, 2010 - A new lead plaintiff was appointed.

November 23, 2009 - A new lead plaintiff motion was filed.

October 22, 2009 - The lead plaintiff and lead counsel were appointed.

September 14, 2009 - A lead plaintiff motion was filed.

July 14, 2009 - An investor in shares of Ambassadors Group Inc (NASDAQ: EPAX) filed a lawsuit in the U.S. District Court for the Eastern District of Washington against Ambassadors Group Inc over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between February 8, 2007 and October 23, 2007.

According to the complaint the plaintiff alleges that Ambassadors Group Inc and certain of its officers and directors violated the Securities Exchange Act of 1934 by issuing between February 8, 2007 and October 23, 2007 materially false and misleading statements regarding its business prospects. Then, on October 22, 2007, Ambassadors Group Inc announced its financial results for the third quarter of 2007, the period ending September 30, 2007. For the quarter, Ambassadors Group Inc reported net income of $22.5 million and $1.12 fully diluted earnings per share.

Ambassadors Group Inc also announced that “as of October 16, 2007, its net enrolled participants for 2008 travel programs were 26,200 compared to 37,300 participants as of the same date last year for its 2007 programs” and that the “decrease in net enrollments for its 2008 programs will negatively impact its 2008 earnings.” In response to this announcement, the price of Ambassadors Group Inc common stock (NASDAQ: EPAX) fell $17.73 per share, or approximately 44%, to close at $21.04 per share, so the lawsuit.

Ambassadors Group Inc reported in 2007 Total Revenue of $114.53 million with a net income of $26.69 million and in 2008 Total Revenue of $97.93 million with a net income of $18.55 million. Shares of Ambassadors Group Inc (NASDAQ: EPAX) closed on Tuesday, July 14, 2009, at $12.19 per share, down from a 52 week High of $19.99 per share and $40.55 per share in 2007.

Ambassadors Group Inc (NASDAQ: EPAX), located in Spokane, WA, is an educational company that organizes and promotes international and domestic travel programs for students, athletes and professionals.