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IN RE APAC TELESERVICES INC SECURITIES LITIGATION Click to find out why . . .



Keywords & Phrases
CaseNo: AT89955, CourtName: CLASS ACTION CASES, State: NY New York, UniqueCaseRef: LCD>AT89955, Apac, Class Period, Prospectus, Common Stock, Ups, Offering, Securities, Reports, Sub-class, Underwriter, Ups Contract, Pursuant, Misleading, Materially False, Connection, Analysts, Allegations, Purchasers, Financial Condition, Representatives, Entry, Registration Statement, Revenue, Shares, Facts, Motion, Inter Alia, Workstations, Management, Material Adverse, Operator Time, Consolidating, Selection, Serve, Pltffs, Lead Counsel, Appointment, Exchange Act, Business Prospects, Lam, Llp , ContentID: 120246197

Case Documents
1 2001-03-08 DOCKET
[ see first page and extracted highlights below  ] ItemID: 114274
6 pages
PDF
2 1998-06-26 Government Exhibit # 1ST CONSOLIDATED AMENDED COMPLAINT
[ see first page and extracted highlights below  ] ItemID: 121585
53 pages
PDF
3 1998-06-26 FIRST CONSOLIDATED AND AMENDED COMPLAINT
[ see first page and extracted highlights below  ] ItemID: 114275
31 pages
PDF
4 1998-05-07 CIVIL DOCKET
[ see first page and extracted highlights below  ] ItemID: 114273
6 pages
PDF
Total Documents: 4 documents , 96 pages
Price: $ 34.95


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1 . DOCKET

EXTRACTED KEY WORDS
MOTION
LEAD COUNSEL
APPOINTMENT
LLP
APPROVING
SELECTION
ORDER GRANTING
RODRIGUEZ
DOCMT
ARMSTRONG
CONSOLIDATE
LEAD PLAINTIFF
LEAD PLTFF
LAW FIRMS
SELINGER
DEFENDANT
AFFIDAVIT
RODRIGUEZ GROUP
WECHSLER HARWOOD HALEBIAN
DJC
MILBERG WEISS BERSHAD
WEISS BERSHAD
WEISS BERSHAD HYNES
LERACH LLP
WECHSLER HARWOOD
FEFFER LLP
LOVELL
STEWART LLP
SERVE
 Docket as of March 8, 2001 10:08 pm                            Page 1

Proceedings include all events.                                                                REL
1:00cv9301 Selinger v. Armstrong, et al
                                                                                  1:00cv 8754
                                                                          REL        1:00cv
                                                                          8754
                                 U.S. District Court
     Southern District of New York - Civil Database (Foley Square)

                         CIVIL DOCKET FOR CASE #: 00-CV-9301

Selinger v. Armstrong, et al                                              Filed: 12/06/00
Assigned to: Judge Sidney H. Stein                         Jury demand: Plaintiff
Demand: $0,000                                             Nature of Suit: 850
Lead Docket: None                                          Jurisdiction: Federal Question
Dkt# in other court: None

Cause: 15:78m(a) Securities Exchange Act


ADELE SELINGER, On Behalf of                Steven G. Schulman
Herself and All Others                      [COR LD NTC]
Similarly Situated                          Samuel H. Rudman
            plaintiff                       49th Floor
                                            [COR LD NTC]
                                            Milberg, Weiss, Bershad, Hynes
                                            & Lerach, L.L.P.
                                            One Pennsylvania Plaza
                                            New York, NY 10119
                                            (212) 594-5300


      v.


C. MICHAEL ARMSTRONG                        Alan M. Unger
            defendant                       [COR LD NTC]
                                            Sidley & Austin
                                            875 Third Avenue
                                            New York, NY 10022
                                            (212)906-2000


AT&T CORPORATION                            Alan M. Unger
            defendant                       (See above)
                                            [COR LD NTC]


SNIPPETS:
  • 1:00cv9301 Selinger v. Armstrong, et al
  • GOLDMAN, SACHS & CO. defendant
  • [Entry date 12/08/00]
  • plaintiff and lead counsel in this action and a controlling
  • appointed a lead plaintiff and lead counsel in this action,
  • Order granting the appointment of lead pltff and the
  • to consolidate all the cases related to this action,
  • motion for an Order granting the appointment of lead pltff
  • and the approval of the selection of lead counsel.
  • docmt #11;
  • at 10:03 p.m.) (djc)
  • 2/8/01 5 Affidavit of service as to Goldman,
  • Jim Luzzi & Robert J. Rodriguez
  • the Rodriguez Group as Lead Plaintiff;
  • Milberg Weiss Bershad Hynes & LeRach LLP, Wechsler Harwood
  • Halebian & Feffer LLP and Lovell & Stewart LLP to serve as
  • motion approving the proposed Rodriguez
  • Group's selection of the law firms of Milberg Weiss Bershad
  • Wechsler Harwood Halebian & Feffer LLP
  • Weiss Bershad Hynes & LeRach LLP, Wechsler Harwood Halebian

  • 2 . Government Exhibit # 1ST CONSOLIDATED AMENDED COMPLAINT

    EXTRACTED KEY WORDS
    CLASS PERIOD
    PROSPECTUS
    COMMON STOCK
    OFFERING
    UPS
    DEFENDANTS
    REPORTS
    SUB-CLASS
    ANALYSTS
    UPS CONTRACT
    BUSINESS
    PURSUANT
    REVENUE
    SHARES
    FACTS
    PLAINTIFFS
    MISLEADING
    MATERIALLY FALSE
    CONNECTION
    SECURITIES
    UNDERWRITER
    FINANCIAL CONDITION
    REPRESENTATIVES
    PURCHASERS
    OPERATOR TIME
    INTER ALIA
    WORKSTATIONS
    DISSATISFACTION
    MANAGEMENT
    
     _______-------------______________I_____------------------------                                  
    ow
     UNITED  STATES  DISTRICT  COURT
     SOUTHERN  DISTRICT  OF NEW  YORK
                                                                                                       
     IN  RF:  APAC  TELESERVICES,  l-NC.                                                               
     SECURITIES  LITIGATION
       ,.$, *is+:
     ______-_------------____l_____________l_--*--------------*------  x                               
        j `-  :. ."
    
    
    
    
    
                c
                                                                          -1:           This  is a
    vices,  Inc.
                                                                                  _                    
    (?APkC"  or  the  "Cornpan&,  individual  officers  and  directors  of  the  Cb$any  and several 
    
    undenvriting  fmms who  underwrote  the % 168 million  Public  Offering  effective  November  8,
    
    1996  (the  `&November  1996  Offering").  The  action  seeks to represent  all purchasers of  APAC
    
    common  stock from  September  19,1996  through  April  21,  1997  (the  "Class  Period") 
    
    Sub-Class  of  purchasers  who  purchased  the common  stock of  APAC  pursuant  to  or traceable 
    
    the Registiation  Statement  and Prospectus issued in  connection  with  the November  1996
    
    Offering.
    
                                                                          2.       Plaintiffs' 
    ion  of,
    
    inter  alia, press releases and news reports, including  but not limited  to  those dated September
    
    1996, October  1996, October  17,1996,  December  10, 1996, February  3, 1997, February  10,
    
    1997, and April  20,  1997 through  April  22, 1997;  analyst reports,  including  but not limited 
    
    those dated  November  7, 1996  and February  6, 1997; and a review  and  critical  analysis of  the
    
    relevant  filings  of  APAC  made  with  the Securities  and  Exchange  Commission  ("SEC"),
    
    including,  inter  alia, the  registration  statement (the  "Registration  Statement")  and
    
    "November  1996  Prospectus"  or the "Prospectus")  for  the $165  million  November  1996  Offering
    
    SNIPPETS:
  • 1996 (the `&November 1996 Offering").
  • The action seeks to represent all purchasers of APAC
  • Sub-Class of purchasers who purchased the common stock of APAC pursuant to or traceable to
  • inter alia, press releases and news reports, including but not limited to those dated
  • relevant filings of APAC made with the Securities and Exchange Commission,
  • including, inter alia, the registration statement and prospectus (the
  • concerning the true state of affairs with regard to APAC's UPS business are based upon
  • The allegations as to plaintiffs
  • Throughout the Class Period, defendants engaged in a common plan and
  • packages (the "UPS Contract" or the "Contract").
  • material adverse facts, APAC and the defendants touted APAC's expanding UPS business,
  • material adverse facts and occurrences, as well as the change in the relationship between APAC
  • Company's business were materially false and misleading because they misstated APAC's
  • financial condition and business prospects, as revealed by the following chronology:
  • neither the number of workstations nor operator hours referred to in the
  • for a substantial portion of that operator time.
  • APAC management planned for a sharp reduction in callcenter
  • Blair") was a co-lead underwriter in the November 1996 Offering (Merrill Lynch,
  • supposed growth in call stations and growing revenue received by APAC.
  • Schwartz's sale of $229 million of APAC common stock in October, 1996 and in connection
  • Lead Plaintiff Karen Behr purchased shares of APAC common stock
  • with UPS, UPS's dissatisfaction with MAC's non-performance under the Contract, UPS's
  • relevant times, members of their immediate families and their legal representatives, heirs,
  • APAC's And The Individual Defendants' Guidance To Securities Analysts And Use Of Them As A

  • 3 . FIRST CONSOLIDATED AND AMENDED COMPLAINT

    EXTRACTED KEY WORDS
    CLASS PERIOD
    COMMON STOCK
    PROSPECTUS
    PLAINTIFFS
    UPS
    SECURITIES
    OFFERING
    DEFENDANTS
    UNDERWRITER
    REPORTS
    SUB-CLASS
    UPS CONTRACT
    ALLEGATIONS
    BUSINESS
    PURSUANT
    MISLEADING
    REGISTRATION STATEMENT
    MATERIALLY FALSE
    CONNECTION
    PURCHASERS
    FINANCIAL CONDITION
    REPRESENTATIVES
    MATERIAL ADVERSE
    INTER ALIA
    WORKSTATIONS
    EXCHANGE ACT
    BUSINESS PROSPECTS
    MISREPRESENTATIONS
    MANAGEMENT
    
     UNITED STATES DISTRICT COURT
    SOUTHERN DISTRICT OF NEW YORK
    
    ----------------------------------------------------- X    FIRST CONSOLIDATED
    IN RE: APAC TELESERVICES, INC.                   :       AND AMENDED COMPLAINT
    SECURITIES LITIGATION                            :       [filed Jun. 26, 1998]
    ----------------------------------------------------- X  97 Civ. 9145 (BSJ)
    
                                                           I.
    
                                            INTRODUCTION
    
    1. This is a securities class action complaint against APAC Teleservices, Inc. ("APAC" or the
    "Company"), individual officers and directors of the Company and several lead underwriting
    firms who underwrote the $168 million Public Offering effective November 8, 1996 (the
    "November 1996 Offering"). The action seeks to represent all purchasers of APAC common
    stock from September 19, 1996 through April 21, 1997 (the "Class Period") including a Sub-
    Class of purchasers who purchased the common stock of APAC pursuant to or traceable to the
    Registration Statement and Prospectus issued in connection with the November 1996 Offering.
    
    2. Plaintiffs' allegations are predicated upon knowledge and information of, inter alia, press
    releases and news reports, including but not limited to those dated September 19, 1996, October
    1996, October 17, 1996, December 10, 1996, February 3, 1997, February 10, 1997, and April 20,
    1997 through April 22, 1997; analyst reports, including but not limited to those dated November
    7, 1996 and February 6, 1997; and a review and critical analysis of the relevant filings of APAC
    made with the Securities and Exchange Commission ("SEC"), including, inter alia, the
    registration statement (the "Registration Statement") and prospectus (the "November 1996
    Prospectus" or the "Prospectus") for the $168 million November 1996 Offering and the
    Company's 10-Q for the quarter ended March 30, 1997. The allegations below are also based
    upon an extensive investigation, including interviews undertaken by plaintiffs' counsel with
    many former APAC employees who worked at APAC callcenters dedicated to the Company's
    service of United Parcel Service of America Inc. ("UPS"). The specific allegations concerning
    the true state of affairs with regard to APAC's UPS business are based upon information obtained
    from former APAC employees (including the allegations set forth in paragraphs 6, 8, 50-59, 62-
    67, 69, 71-72, 75, 79-82, 86, and 89). The allegations as to plaintiffs and their attorneys are made
    upon personal knowledge.
    
                                                           II.
    
                                       SUMMARY OF CLAIMS
    
    3. Throughout the Class Period, defendants engaged in a common plan and scheme to defraud
    and made material misrepresentations and omissions of fact concerning APAC's business,
    operations, revenues and profits, including its unique July 1995 contract with its largest client,
    United Parcel Service of America, Inc. ("UPS"), the nation's largest deliverer of packages (the
    "UPS Contract" or the "Contract"). Prior to and during the Class Period, UPS repeatedly advised
    APAC that APAC's work had been "unproductive," and UPS refused to pay for "unproductive
    time," resulting in APAC bearing substantial costs and expenses which would materially impact
    its revenues and profits. During the Class Period, while in possession of material adverse facts,
    
    SNIPPETS:
  • This is a securities class action complaint against APAC Teleservices, Inc., individual
  • The action seeks to represent all purchasers of APAC common stock from September 19, 1996
  • Plaintiffs' allegations are predicated upon knowledge and information of, inter alia, press rities and Exchange Commission, including, inter alia, the registration statement and prospectus
  • The allegations below are also based upon an extensive investigation, including interviews
  • The specific allegations concerning the true state of affairs with regard to APAC's UPS
  • During the Class Period, while in possession of material adverse facts,
  • APAC and the defendants touted APAC's expanding UPS business, revenues and profits, and
  • Under the UPS Contract, APAC was obligated, among other things, to establish four call
  • Defendants' misrepresentations regarding the UPS Contract and the Company's business were
  • Since APAC was not satisfying these "Requirements", neither the number of workstations nor
  • APAC management planned for a sharp reduction in callcenter personnel beginning in the first
  • Blair") was a co-lead underwriter in the November 1996 Offering.
  • Defendants' false portrayal of the Company's financial condition and relationship with UPS
  • However, these representations were materially false because at the time of the November 1996
  • APAC further stated that this policy would result in an approximately 20% reduction in
  • 10b-5, and Section 20of the Exchange Act, 15 U.S.C. § 78t.

  • 4 . CIVIL DOCKET

    EXTRACTED KEY WORDS
    CONSOLIDATING
    PLTFFS
    LAM
    MOTION
    JUDGE
    JONES
    SERVE
    APAC TELESERVICES
    MOTION APPOINTING
    DEFENDANT
    DEFTS
    CO-LEAD COUNSEL REPRESENTING
    JUDGE BARBARA
    THEODORE
    SCHWARTZ
    RESET
    MOTION APPROVING
    CONSOLIDATED PLAINTIFF
    SELECTION
    SCHOENGOLD
    SPORN
    MILBERG WEISS
    MILBERG WEISS BERSHAD
    KAREN BEHR
    BARNEY
    WILLIAM BLAIR
    PRE-TRIAL CONFERENCE
    MEMORANDUM
    RESPONSE
    
     Docket as of May 7, 1998 [retrieved 5/16/98]
    Proceedings include all events.
    1:97cv9145           Behr v. APAC Teleservices, et al                               LEAD
    
                                                                           LEAD
                                  U.S. District Court
         Southern District of New York - Civil Database (Foley Square)
    
                          CIVIL DOCKET FOR CASE #: 97-CV-9145
    
    Behr v. APAC Teleservices, et al                                       Filed: 12/11/97
    Assigned to: Judge Barbara S. Jones                     Jury demand: Plaintiff
    Demand: $0,000                                          Nature of Suit: 850
    Lead Docket: None                                       Jurisdiction: Federal Question
    Dkt# in other court: None
    
    Cause: 28:1331 Fed. Question: Securities Violation
    
    
    KAREN BEHR, on behalf of                 Samuel P Sporn
    herself and all other                    [COR LD NTC]
    shareholders of APAC                     Schoengold & Sporn
    TELESERVICES, INC. similarly             233 Broadway
    situated                                 New York, NY 10279
            plaintiff                        (212) 964-0046
    
                                             Joel P. Laitman
                                             [COR LD NTC]
                                             Jay P. Saltzman
                                             [COR LD NTC]
                                             Schoengold & Sporn, P.C.
                                             233 Broadway
                                             New York, NY 10279
                                             (212) 964-0046
    
    
    DOMINIC A. CASTALDO                      Paul D. Young
            consolidated plaintiff           [COR LD NTC]
                                             Milberg Weiss Bershad Hynes &
                                             Lerach LLP
                                             One Pennsylvania Plaza
                                             New York, NY 10119-0165
                                             (212) 594-5300
    
                                             Joel P. Laitman
                                             [COR LD NTC]
                                             Schoengold & Sporn, P.C.
                                             233 Broadway
                                             New York, NY 10279
    
    SNIPPETS:
  • consolidated plaintiff
  • THEODORE G. SCHWARTZ
  • APAC TELESERVICES, INC.
  • 12/24/97 -- Pre-trial conference set at 2:45 2/13/98 before Judge Jones
  • for defts APAC TeleServices dated 1/30/98, reset pretrial
  • Jones) (lam) [Entry date 02/09/98]
  • pltffs' Motion for Appointment of Lead Pltffs and approval
  • support memorandum
  • APAC Teleservices, for William Blair & Co., for Smith
  • Barney, Inc., for Lehman Brothers, for Merrill Lynch & Co.,
  • Schwartz (signed by Judge Barbara S. Jones).
  • to serve as lead pltffs in the actions to be consolidated;
  • approving their selection of Schoengold & Sporn,
  • Milberg Weiss Bershad et al as Co-Lead Counsel representing
  • Behr and Arnold Podber et al Re: motion appointing
  • Schoengold & Sporn, PC and Milberg Weiss Bershad et al as
  • 3/23/98 11 REPLY MEMORANDUM by Karen Behr re:
  • counsel for pltff writes in response to defts'
  •    |