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AtriCure Inc (NASDAQ: ARTC) Investor Securities Class Action Lawsuit 12/11/2006

  • If you purchased shares of AtriCure Inc (NASDAQ: ARTC), you might have certain options and should contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Company
AtriCure Inc
Security
NASDAQ: ATRC

Case Name
AtriCure Shareholder Class Action Lawsuit 12/11/2006
Type of Lawsuit
Shareholder Class Action
Class Period Begin
Class Period End
Settlement Notice
atricure_inc_settlement_notice_12_2010.pdf
Settlement Proof
atricure_inc_settlement_proof_12_2010.pdf
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Settlement Overview

Date Settled
Date Settled
Settlement Amount
$2,000,000.00
Deadline to Participate in Settlement

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Summary

May 27, 2011 - 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.
December 29, 2010 - The court preliminarily approved the settlement.

October 22, 2010 - Parties filed a stipulation of settlement.

January 29, 2009 - The court denied the defendants' motion for reconsideration.

September 27, 2007 - The defendants filed a motion for reconsideration.

September 13, 2007 - The court denied the defendants' motion to dismiss.

February 9, 2007 - A lead plaintiff motion was filed.

January 23, 2007 - The defendants filed a motion to dismiss.

December 11, 2006 - An investor in shares of AtriCure Inc (NASDAQ: ARTC) filed a lawsuit in the U.S. District Court for the Southern District of New York against AtriCure Inc over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between August 4, 2005 and February 16, 2006 in relation to AtriCure Inc (NASDAQ: ARTC)'s Initial Public Offering on August 4, 2005.

The complaint charges AtriCure Inc and certain of its officers and directors with violations of the Securities Act of 1933. More specifically, the complaint alleges that AtriCure Inc's Registration Statement and Prospectus issued in connection with AtriCure Inc (NASDAQ: ARTC) initial public offering on or about August 4, 2005 failed to disclose that the Cleveland Clinic, where a significant portion of procedures with the company's products were being performed, was an investor in AtriCure Inc and that doctors from the Cleveland Clinic had been paid consultants to AtriCure Inc.

On February 16, 2006, AtriCure Inc announced financial results for the fourth quarter of 2005 and the fiscal year ended December 31, 2005. Among other things, the company reported that it was experiencing a negative impact on its business due to the revelations concerning the Cleveland Clinic. In response to this announcement, the price of AtriCure Inc (NASDAQ: ARTC) common stock dropped from $10.36 per share to $8.04 per share on extremely heavy trading volume.

Date Settled