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CONTIFINANCIAL CLASS ACTION LITIGATION Click to find out why . . .



Keywords & Phrases
CaseNo: CCAL197870, CourtName: CLASS ACTION CASES, State: TX Texas, UniqueCaseRef: LCD>CCAL197870, Dark Fiber, Caprock, Stock, Secondary Offering, Fiber Network, Shares, Caprock Communications, Customers, Carrier, Class Action, Mcaleer, Revenue, Southwest, Demand, Cyr, United States, Executive Officer, Purchased Shares, Federal Securities Laws, Irus, Construction, Individual Defendants, Integrated Services, Irus Sold, Projections, Long-haul Fiber Network, Scalable Long-haul Fiber, Acquired Caprock, Caprock Communications Corporation , ContentID: 120249598

Case Documents
1   COMPLAINT
[ see first page and extracted highlights below  ] ItemID: 122234
25 pages
HTML
Total Documents: 1 document , 25 pages
Price: $ 19.95


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1 . COMPLAINT

EXTRACTED KEY WORDS
DARK FIBER
CAPROCK
STOCK
SECONDARY OFFERING
FIBER NETWORK
SHARES
CAPROCK COMMUNICATIONS
CUSTOMERS
CARRIER
CLASS ACTION
MCALEER
REVENUE
SOUTHWEST
DEMAND
CYR
UNITED STATES
EXECUTIVE OFFICER
PURCHASED SHARES
FEDERAL SECURITIES LAWS
IRUS
CONSTRUCTION
INDIVIDUAL DEFENDANTS
INTEGRATED SERVICES
IRUS SOLD
PROJECTIONS
LONG-HAUL FIBER NETWORK
SCALABLE LONG-HAUL FIBER
ACQUIRED CAPROCK
CAPROCK COMMUNICATIONS CORPORATION



                        UNITED STATES DISTRICT COURT

                        NORTHERN DISTRICT OF TEXAS

                              DALLAS DIVISION

   _____________________________________________

   HECTOR ALFARO, On Behalf of
   Himself and All Others Similarly
   Situated,

                           Plaintiff,

       vs.

   CAPROCK COMMUNICATIONS
   CORPORATION, LEO J. CYR, JERE
   W. THOMPSON, JR. and KEVIN W.
   McALEER,

                           Defendants.
   _____________________________________________


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   Civil Action No.

   CLASS ACTION COMPLAINT
SNIPPETS:
  • CLASS ACTION COMPLAINT FOR VIOLATION OF THE FEDERAL SECURITIES LAWS
  • DEMAND FOR JURY TRIAL
  • This is an action on behalf of those who purchased or otherwise acquired CapRock
  • CapRock owns and operates a scalable long-haul fiber network.
  • The Company's fiber network supports the voice, data, bandwidth, and dark fiber services
  • CapRock's network is located throughout the Southwestern region of the United States.
  • Defendants' false and misleading statements concerning the revenues to be derived from its
  • This upsurge in CapRock's stock price caused by defendants' false and misleading statements
  • On July 6, 2000, days after CapRock's Secondary Offering was completed, CapRock revealed that
  • Plaintiff Hector Alfaro purchased shares of CapRock common stock as described in the attached
  • Defendant Leo J. Cyr was, during the Class Period, President and Chief Operating Officer of
  • was, during the Class Period, Chairman of the Board and Chief Executive Officer of the
  • Defendant Kevin W. McAleer was, during the Class Period, Chief Financial Officer of the
  • The Individual Defendants, by reason of their stock ownership and positions with CapRock,
  • CapRock describes itself as a leading facilities-based integrated communications service
  • CapRock's future construction program carried a significant price tag.
  • By April 24, 2000, CapRock's shares continued to succumb to selling pressure associated with
  • We announced plans to extend our network to 7,500 miles by the end of 2001, to build 30
  • This increase was attributable to increases of 125% in carriers' carrier, 116% in integrated
  • The 125% increase resulted primarily from the sale of IRUs and dark fiber leases.
  • Revenues are recognized immediately on IRUs sold from available fiber on completed network
  • This is a class action on behalf of those who purchased or otherwise acquired CapRock stock
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