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IN RE CHROMATICS COLOR SCIENCES INTERNATIONAL INC SECURITIES LITIGATION Click to find out why . . .



Keywords & Phrases
CaseNo: CCS104781, CourtName: CLASS ACTION CASES, UniqueCaseRef: LCD>CCS104781, Ccsi, Class Period, Chromatics, Misleading, Materially False, United States, Market, Bilirubin, Exchange Act, Securities, Class Action, York, Colormate Device, Technology, Common Stock, Individual Defendants, Distribution, Bilirubin Infant, Monitoring, Instrument, Material Facts, Colormate, Business Prospects, Allegations, Blood Tests, Report, Commercial Distribution, W-olf Popper Llp, Infant Jaundice, Corporate Officers, Measurement, Avon, Patents, Cost, Investors, Asensio, Tic-bilimeter , ContentID: 120249561

Case Documents
1 1999-01-08 CONSOLIDATED AMENDED COMPLAINT
[ see first page and extracted highlights below  ] ItemID: 122038
37 pages
PDF
2 1998-06-10 COMPLAINT
[ see first page and extracted highlights below  ] ItemID: 122037
34 pages
PDF
Total Documents: 2 documents , 71 pages
Price: $ 24.95


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1 . CONSOLIDATED AMENDED COMPLAINT

EXTRACTED KEY WORDS
CCSI
DEFENDANTS
CHROMATICS
MISLEADING
MATERIALLY FALSE
PLAINTIFFS
UNITED STATES
EXCHANGE ACT
SECURITIES
MARKET
CLASS ACTION
YORK
BILIRUBIN
COLORMATE DEVICE
COMMON STOCK
TECHNOLOGY
INDIVIDUAL DEFENDANTS
DISTRIBUTION
BILIRUBIN INFANT
MONITORING
MATERIAL FACTS
BUSINESS PROSPECTS
ALLEGATIONS
BLOOD TESTS
INSTRUMENT
COMMERCIAL DISTRIBUTION
W-OLF POPPER LLP
INFANT JAUNDICE
CORPORATE OFFICERS
W-OLF  POPPER  LLP
Stephen  D.  Oestreich  (SDO  8933)
Carl  L.  Stine  (CLS  3000)
845  Third  Avenue
New  York,  New  York  10022
(2 12)  759-4600

Plaintiffs'  Lead  Counsel


UNITED  STATES  DISTRICT  COURT
SOUTHERN  DISTRICT  OF  NEW  YORK
"`-"""-""-`--`----------*--------------*-----------*-----~
TN RE  CHROMATICS  COLOR  SCIENCES                                    `:        Consolidated 
INTERNATIONAL                    INC.                                           98  Civ.  31  I1 
                                                                                                   
SECURITIES  LITIGATION                                                                             
""-"""-`-"-`-`-"-`--------------------------------------*---x                   Juw  Trial 
                                                                                                   
                                                                                                   
                                                                                                   
                                                                                                   
                                                                                                   
                                                                                                   
                                                                                                   
                       CONSOLIDATED                     AMENDED  CLASS  ACTION  COMPLATiST         
                                                                                                   
                                                                                                   
                                                                                                   
                        Plaintiffs,  by their  attorneys,  on  behalf  of  themselves  and  the 

represent,  for  their  Consclidated  Amended  Class Action  Complaint  (the  "Complaint"),  make 

following  allegations  against  defendants  upon  information  and  belief(except  as to 

specifically  pertaining  to  plaintiffs  and  their  counsel,  which  are  based  on  personal 

based  upon  the  thorough  investigation  conducted  by and  under  the  supervision  of 

counsel.

                                                      NATURE  OF  THE  ACTION

                         1.          This  is a class action  on  behalf  of  all  purchasers  of 

Chromatics  Color  Sciences International,  Inc.  ("CCSI"  or  the  "Company")  between  July  30,

 1997  and  June  9,  1998, inclusive  (the  "Class  Period"),  seeking  to pursue  remedies  under

SNIPPETS:
  • W-OLF POPPER LLP
  • New York, New York 10022
  • UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK
  • Plaintiffs, by their attorneys, on behalf of themselves and the Class they &k to c:
  • following allegations against defendants upon information and belief(except as to allegations
  • Chromatics Color Sciences International, Inc. ("CCSI" or the "Company") between July 30,
  • During the Class Period, dcfcndants
  • These statements caused the publicly traded price of CCSI's common stock to become
  • This action arises under Sections 10and 20of the Exchange Act,
  • Securities Exchange Commission Rule 1 Ob-5,
  • In connection with the acts and conduct complained of, defendants,
  • documents, conversations and contacts with other corporate officers and employees, attendance
  • future business prospects via access to internal corporate documents,
  • are sometimes hereinafter referred to as the "Individual Defendants."
  • for pleading purposes and to presume that the false and misleading information conveyed in the
  • so that the market price of the Company's publicly traded securities
  • business and future sales materially false and misleading.
  • Plaintiffs bring this action as a class action under Rules 23and 23
  • material facts about the business, operations, prospects and financial condition of the
  • applications involving the detection and monitoring of certain chromogenic diseases.
  • commercial distribution of the Company's Color-mate Device.
  • terms of safety, effectiveness, technology, and intended use to another legally marketed
  • monitoring of infant jaundice, a market currently dominated by standard blood testing.
  • falsely portrayed the Company's Colormate Device as
  • estimate of both the number of bilirubin tests performed per year
  • compared to traditional blood tests currently accepted by a large majority of the medical
  • non-invasive monitoring of bilirubin infant jaundice in the U.S. As a result of the Comp~any's
  • agreements for the commercial distribution of its Colormate Device,
  • Instrument Markets" by Frost & Sullivan estimated that the world bilirubinometer market was

  • 2 . COMPLAINT

    EXTRACTED KEY WORDS
    COLORMATE
    BILIRUBIN
    REPORT
    TECHNOLOGY
    MEASUREMENT
    AVON
    MARKET
    PATENTS
    COST
    INVESTORS
    INSTRUMENT
    ASENSIO
    TIC-BILIMETER
    JAUNDICE
    SKIN
    PRINCIPALS
    WARRANTS
    SHARES
    OFFERING
    REVENUE
    BLOOD
    INDUSTRY
    COMMON
    EMPLOYEE
    EXPENSES
    APPLICATIONS
    BUSINESS
    HOSPITALS
    NEWBORNS
    
     UNITED  STATES  DISTRICT                               COURT
     SOUTHERN  DISTRICT                        OF  NEW  YORK
                                   ------------------                            --
     L.  F.  M3rlK,                                                                                    
                                                                                                       
      No.
    
                                                    Plaintiff,
                                                                                          I            
      COMPLAIN
                          -  against                -                      /                           
                                                                                                    I
                                                                                          /
     CHROMATICS                COLOR  SCIENCES                                            /         1  
     INTERNATIONAL                   INC.,DARBY_               S.,                        I
     MACFARLANE,  ARTHUR  GUIR?,                                    DAVID  K.  /  '                    
     MACFARLANE  and  LESLIE  FOGLESONG,                                                  j ,
                                                    Defdndants.
    
    
                         Plaintiff,                     individually                    and  on  behalf
     similarly           situated,                  by  his  attorneys,                            
        upon
     information                and  belief                 (except         for           those        
    to  G:lair:ciff                                                                        I
                                    which           are  based  on  personal                           
    
    
                                                          NATURE         OF  THE  ACTION
    
                         1.           Plaintiff               brings             this            
         on
    behzif          of.  a  class              (the        "Class")              consisting            
                                                                                           (  1
    other          persons         or  entities                    who  purchased                      
                                                                                           I
    securities            of.  defendant                    CHROMATICS  COLOR  SCIENCES  INTEI 
    INC.,  (l'Chromaticsll                     or  the  10Companyll)  during                           
    
    1997  through                ;rune  9,  1998,                   inclusive                     (the 
    recover          damages  caused                      to  the  Class  by  defendants'              
         of
    the  federal                securities                laws.
    
    
    
    
                  i
    
    
    SNIPPETS:
  • in monito 1 ing bilirubin
  • infant jaundice.
  • it on the skin
  • the Colormate
  • be used by hospitals,
  • and expenses
  • I?:':!>- employee
  • Tic-BiliMeter
  • ani analyst report published
  • financial market participants
  • I newborns
  • in the Asensio
  • instrument.
  • any new technology
  • cost of performing
  • blood tests are done internally
  • In,June of 1988 CCSI leased
  • to Avon.
  • industry.
  • This offering
  • was sold by Investors
  • to:IA's principals.
  • shares worth $1.2 million
  • and warrants
  • CCSI's next two patents
  •    |