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IN RE MOBILE TELECOMMUNICATIONS TECHNOLOGIES CORP SECURITIES LITIGATION Click to find out why . . .



Keywords & Phrases
CaseNo: MT105710, CourtName: CLASS ACTION CASES, State: MS Mississippi, UniqueCaseRef: LCD>MT105710, Mtel, Stock, Common, Fugate, United States, Exchange Act, Palmer, Securities, Paging Service, Market, Nationwide Paging, Competition, Omissions, Federal Securities, Mobile Telecommunications, Telecommunication Technologies, Violations, Delaware Corporation, Class Period, Common Stock, Undersigned Attorneys, Annual Report, Profitability, Individual Class Members, Mtel Common Stock, Market Analysts, York, Jurisdiction, Wade Jackson, Net Income, Price, Thereof, Mtt, Proper, Fact Common , ContentID: 120249871

Case Documents
1 1994-05-11 CONSOLIDATED AMENDED COMPLAINT
[ see first page and extracted highlights below  ] ItemID: 123441
27 pages
PDF
2 1994-01-13 CLASS ACTION COMPLAINT
[ see first page and extracted highlights below  ] ItemID: 123436
15 pages
PDF
3 1994-01-10 COMPLAINT
[ see first page and extracted highlights below  ] ItemID: 123439
16 pages
PDF
4 1994-01-06 COMPLAINT
[ see first page and extracted highlights below  ] ItemID: 123440
17 pages
PDF
5 1994-01-06 COMPLAINT 2
[ see first page and extracted highlights below  ] ItemID: 123438
19 pages
PDF
6 1994-01-06 CLASS ACTION COMPLAINT
[ see first page and extracted highlights below  ] ItemID: 123437
15 pages
PDF
Total Documents: 6 documents , 109 pages
Price: $ 44.95


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1 . CONSOLIDATED AMENDED COMPLAINT

EXTRACTED KEY WORDS
COMMON STOCK
MARKET
MTEL COMMON STOCK
CLASS PERIOD1
JONES NEWS
EXCHANAE ACT
JAI
JOHN
DEFENDANTS
DECLINE
GROWTH
INDUSTRY
COST
COMPARES
ARCH
SAYING
SENDERS
DOW JONES NEWS
THEREOF
PLAINTIFFS
UNKNOWN
EXACT
SHARES
PRICE
PRINCIPLES
SOUTHERN DISTRICT
                               IN  THE  UNITED  STATES  DISTRICT  COITRT
                           FOR  THE  SOUTHERN  DISTRICT  OF  MISSI~S~~~'sT"'~oFM'ss'ss'PP~
                                                 JACKSON  DIVISION                                 
                                                                                                   
                                                                                                   
                                                               :                              I    
IN  RE  MOBILE  TELECOMMUNICATION                              :  MASTER  FILE  w.
TECHNOLOGIES  CORP.  SECURITIES                                :  3:94-CV-6                   i-   
                                                                                                   
LITIGATION                                                     : :  CONSOLIDATED  AMENDED
                                                               :  COMPLAINT
THIS  DOCUMENT  RELATES  TO                                    :
ALL  ACTIONS                                                   :  (JURY  TRIAL  DEMANDED)
                                                               :

                   Plaintiffs,               by  their        attorneys,            allege         
upon  information                  and  belief           (based  on,  inter                 alia,  
investigation                made  by  plaintiffs                    by  and  through              
except  as  to  the  allegations                           which  pertain            to  the  named
plaintiffs           and  their             counsel.          Such  allegations                    
information                and  belief        because  many  of  the  material                     
peculiarly           within         the  knowledge             of  the  defendants.
                                                    INTRODUCTION
                    1.         This  is  an  open-market                     securities            
action         against         Mobile  Telecommunication                        Technologies       
("Mtel"         or  the  "Company")                and'certain               of  the  Company's 
and  directors,                 brought        on  behalf            of  purchasers                
stock  during               the  period  March  31,  1993,  through                                
January         5,  1994  (the  "Class"                    and  the  "Class  Period").             
through         SkyTel  Corp.  and  other  subsidiary                               operating      
provides          nationwide               paging  services              and  engages  in  other
communications-related                         businesses.
                    2.          As  alleged        below,            defendants         during     

Period         affirmatively                knew  (or,  at  a  minimum,                    



disregarded)               adverse  material                   information              regarding  
operations,               competitive             position          and  future            
Thus,  for  example,                    defendants             knew  from  internal                
other  non-public                    sources  that:              (i)  increasing                  
eroding         Mtel's        profits            and  operating               margins  and  would 
Company  to  radically                     alter       its  pricing                 structure;     
experiencing               substantial               cost  over-runs                 in  the 
construction               of  new  products;                  and  (iii)            Mtel  was 
substantial               losses        in  joint        ventures             in  the 
Alone  or  in  combination,                          these  adverse  conditions                    
Mtel's        business          and  operations,                  undermining               the 
SNIPPETS:
  • Mtel common stock traded at $18.25 on March 31, 1993, and
  • principles.
  • at a price of $26% per share and has been damaged thereby.
  • share and 200 shares of Mtel common stock on August 25,
  • While the exact number of Class members is unknown to plaintiffs
  • thereof.
  • a Dow Jones News
  • senders.
  • saying that:
  • other companies (such as Arch
  • share in 1994 and in 1995, and this compares
  • but the cost of the new marketing
  • in the industry;
  • growth would decline;
  • known to defendants.
  • The market for Mtel common stock was open, well, r
  • John N;
  • Jai P.
  • Exchanae Act During The Class Period1

  • 2 . CLASS ACTION COMPLAINT

    EXTRACTED KEY WORDS
    PROPER
    MTT
    LEONARD BARRACK
    MSB
    SMITH
    CRAIG
    JELLIFFE
    MGZINCO
    BIGGS
    EDMONSON
    EXCHANGE ACT
    CLASS PERIOD
    SUSTAINED DAMAGES
    MEMBERS
    FACT COMMON
    CLASS ACTION
    MENT
    DEFENDANTS
    ATTORNEYS
    ROBERT FUGATE
    PALMER
    CONN
    EUGENE
    SOUTHERN DISTRICT
    
                                                                                                       
                                                                                                       
                                                                                                       
                                    IN  THE  UNITED  STATES  DISTRICT
                                FOR  THE  SOUTHERN  DISTRICT  OF
                                                         JACKSON  DIVISION
    
                                                                                CIVIL  ACTION          
    EUGENE  S.  CONN,  on
    behal?  of  himself                     and  all                            NO.
    others         similarly               situated,                 : .
                                    Plaintiff,
    
                         V*                                          :
    
    MOBILE  TELECOMMUNICATION                                        :          JURY  TRIAL  DEMANDED
    TECHNOLOGIES  CORP.,  JOHN  N.                                   :
    PALMER,  AND  J.  ROBERT  FUGATE,  :
                                    Defendants,                      :
    
                                                   CLASS  ACTION  COMPLAINT
    
                Plaintiff,            by  his  attorneys,                      submits       this 
    Complaint             (l'Complaintlt)                against             the  defendants       
    allegations                 made  in  this  Complaint                        are  based  on 
    belief,          except  those  allegations                               that  pertain        to 
    tiff        and  his  counsel.                   Plaintiff's                 information        and
    based,  inter                alia,        on  the  investigation                       made  by 
    attorneys.
    
    
                               NATURE  OF  ACTION  AND  S-Y                                OF 
    
                        1.  This  is  a  shareholder                             class  action      
    of  a  plaintiff                class          (the  l'ClasslV)  consisting                    of 
    of  the  common  stock  of  Mobile                               Telecommunication              
    or  the  l'CompanylV)  from  March  31,  1993  through                                         and 
    January           4,  1994  (the  "Class  Period").
    
    
    
                     2.  During  the  Class  Period,                           defendants          
    its  financial              condition,         prospects,              operations,            
    and  liquidity              in  a  materially            false  and  misleading                   
    Defendants            did  so  through  a  series                    of  materially            
    leading         public       statements           in  press  releases                    and 
    Securities            and  Exchange  Commission                       ("SEC").           
    statements            concerning           the  Company's  business,                       
    and  capital           resources,           and  prospects               were  false  and 
    
    SNIPPETS:
  • FOR THE SOUTHERN DISTRICT OF
  • EUGENE S. CONN, on
  • PALMER, AND J. ROBERT FUGATE,:
  • attorneys.
  • defendants.
  • ment of the class action.
  • fact common to the Class are:
  • Whether the members of the Class have sustained damages and, if so, what is the proper
  • On January 5, 1994, before the market opened, MTT stunned
  • Class Period.
  • Exchange Act.
  • EDMONSON, BIGGS, MGZINCO h JELLIFFE
  • Craig D. Smith (MSB #9436)
  • Leonard Barrack

  • 3 . COMPLAINT

    EXTRACTED KEY WORDS
    MEMBERS
    MTEL COMMON STOCK
    BRODY
    STULL
    ESQ
    WEISS
    JOSEPH
    LAW
    JULES BRODY
    LAW OFFICES
    BALA PLAZA EAST
    COUNSEL
    DECLINE
    VENTURES
    GARRISON
    THEREOF
    FACT COMMON
    PLAINTIFFS
    UNKNOWN
    EXACT
    PROSPECTS
    OBLIGATIONS
    EXCHANGE ACT
    SHARES
    PRINCIPLES
    MOBILE
    ROBERT FUGATE
    
                                                                                                       
                                                                                                       
    
    
    
    
    
                                  IN  THE  UNITED  STATES  DISTRICT  COURT                             
                             FOR  THE  SOUTHERN  DISTRICT  OF  MISSISSIPPI                             
    
     ROCHELLE  AGRIS  AND  RICHARD  BELADINO,                                            Civil     
                                                Plaintiffs,                              COMPLAINT
                                -against-                                      ;
     JOHN  N.  PALMER,  JAI  P.  BHAGAT,  J.                                   i         CLASS  ACTION
    ROBERT  FUGATE  AND  MOBILE
    TELECOMMUNICATION  TECHNOLOGIES                                            ;
     CORP.,                                                                    ;         PLAINTIFFS    
                                                                                            TRIAL  BY 
                                                Defendants.
    
    
                      Plaintiffs,             by  their         attorneys,           for  their     
    against         the  defendants,             allege         upon  information             and 
    except  as  to  paragraph                   5,  which  is  alleged                on  knowledge,   
    follows:
    
                                              JURISDICTION           AND  VENUE
                      1.         This  Court  has  jurisdiction                       of  this     
    under  Section              27  of  the  Securities              Exchange  Act  of  1934  (the
    "Exchange         Act")       as  amended,          15  U.S.C.  5  78aa,  and  28  U.S.C.
    SS  1331  and  1337,  and  under  the  doctrine                             of  pendent 
                      2.         The  claims        herein        arise  under  Section               
    20(a)  of  the  Exchange  Act  [15  U.S.C.  S  78j(b)                                 and  S 
    Rule  lob-5  promulgated                   thereunder          by  the  Securities              
    Commission          [17  C.F.R.  S  240.1023-53  and  under  common  law
    principles.
                      3.        Venue  is  properly               laid  in  this  District             
    to  S  27  of  the  Exchange  Act  and  28  U.S.C.                               s  1391(b)  and 
    
    
    
    
    
    i
    
    
    
     acts,  conduct,                combination             and  conspiracy             complained     
     including          the  preparation,                   issuance           and  dissemination      
    
    SNIPPETS:
  • ROBERT FUGATE AND MOBILE
  • principles.
  • shares of Mtel common stock on October 26, 1993, at $ 31 5\8 per share.
  • with the Exchange Act.
  • obligations.
  • prospects.
  • While the exact number of Class members is unknown to plaintiffs
  • law and fact common to the Class are:
  • thereof.
  • Garrison:
  • ventures.
  • OF COUNSEL:
  • Three Bala Plaza East
  • 667-7056 LAW OFFICES OF JOSEPH H. WEISS
  • Joseph H. Weiss, Esq.
  • New York, New York 10016
  • 532-4171 STULL STULL & BRODY
  • Jules Brody, Esq.

  • 4 . COMPLAINT

    EXTRACTED KEY WORDS
    MEMBERS
    YORK
    MTEL COMMON STOCK
    PURCHASE
    PLAINTIFF
    ATTORNEYS
    FLOOR
    PENN PLAZA
    PROPER
    MISLEADING
    RCCCNT
    TOUR
    COVERAGE
    LYY3
    HDD
    VTI
    RICHMULLD
    MARTIN AQRHCY
    PRICE-CUTTING
    THEREOF
    FACT COMMON
    ANRL
    U-5-C
    TEUCOMMUNICATION TECHNOLOGIES
    DIIACAT
    DLMER
    JOIIN
    
    DARnAR~          E.  CIIELES,                                                                    
                                                                                           1
                                                       Plaineiff,
                               -against-                                                   1
                                                                                           1  C.&MS 
    JOIIN  N.  !DLMER,  JU  I!.  DIIACAT,  J.
    RORERT  FUGATE  AND  MORItvR                                                           ;
    TEUCOMMUNICATION  TECHNOLOGIES
    CORP.,                                                                                 :         
                                                                                                       
                                                       Defendants.
    
    
                        Plaintiff,                 by  her  attozncycr,                    for  her 
    Lhe  &f~n~rrLY,                    alleye~               upvrl  idurtaaliurr            arrd 
    paragraph           5,  which  ia  allegmd  on  knowledge,                                      as 
    
    
    
                        1.      Tbie  court  hat  juriediction                                   of 
    Ser:Liurl        27  UT  Lhr             Srcur.iLie!y            Exchdnye  AcL  wl:  2934          
    
    Act"1  as  amended,  15  U;S.C.  §  7&a,  and  28  U-5-C.  Jf  1331  anrl  1.337,
    and  under  the  doctrine                         of  pendent  jurkdiction.
                        2.      The  claims                     htrtiu             &rise:  udar        
    
    20(a)         ot  the  Exchange  Act  [1S  U.S.C.  5  78j  (bl  and  Q  78t_(a)l                   
    Rule  lob-5           promulgated                         thereunder              by  the 
    Commission  (17  C.F.R.  9  24O.lOb-51                                         and  under  comman 
                       3,       Venue  is  properly                           laid  in  this  Distrlcrs
    5  3.7  of  t.he  exchange                      Act.       and  2FL IT-S-C.  I  1391  (h)  and     
    3&E,          conduct,      combination                     and  concpiracy             compktincd 
    
    the  preparation,                  issuance  and  dissemination                              of 
                                                                           -I-
    
    
    
    misleading                  information            to  the  investing                public,       
    substantial                part  in  the  District              of  Mississippi.                
    Telecommunication                   Technologies             Corp.  ("Mtel"          or  the 
    
    maintained           its  principal               place  of  business            in  this  District
    relevam           times.
                        4.          In  connection         with  the  conduct  complained              
    defendants,                    directly            or  indirectly,                   used  the 
    instrumentalities                   of  interstate              commerce,  including               
    interstate           telephone               communications          and  the  facilities          
    securities           exchanges.
    
    SNIPPETS:
  • JOIIN N.!DLMER, JU I!. DIIACAT, J.
  • TEUCOMMUNICATION TECHNOLOGIES
  • § 7&a, and 28 U-5-C.
  • Jf 1331 anrl 1.337,
  • members of the Class as all members of the Class are similarly
  • and fact common to the Class are:
  • thereof.
  • the Martin Aqrhcy of RichmuLld, Vti.
  • hdd been awarded the Company*s
  • lYY3, defendants announced r.hat.
  • we have Eripled our coverage in less than tour
  • to an annualized 44 percent in the most rcccnt
  • misleading.
  • Mtel common stock.
  • were induced to and did purchase Mtel common stock at artificially
  • proper under the circumstancesDated: January 6,
  • One Penn Plaza, 49th Floor
  • New York, New York 10119 Phone: 594-5300 Attorneys for Plaintiff

  • 5 . COMPLAINT 2

    EXTRACTED KEY WORDS
    DEFENDANTS
    PLAINTIFF
    STOCK
    COMMON
    FUGATE
    UNITED STATES
    PALMER
    EXCHANGE ACT
    SECURITIES
    PAGING SERVICE
    NATIONWIDE PAGING
    LAW
    MARKET
    COMPETITION
    OMISSIONS
    FEDERAL SECURITIES
    MOBILE TELECOMMUNICATIONS
    TELECOMMUNICATION TECHNOLOGIES
    VIOLATIONS
    DELAWARE CORPORATION
    UNDERSIGNED ATTORNEYS
    ANNUAL REPORT
    PROFITABILITY
    CLASS PERIOD
    INDIVIDUAL CLASS MEMBERS
    MARKET ANALYSTS
    JURISDICTION
    WADE JACKSON
    NET INCOME
    
                                                                                   S(IUTHERN         
                                                                                                    
                               l-N  THE  UNITED  STATES  DISTRICT  CO&T
                            FOR  THE  SOUTHERN  DISTRICT  OF MIssIs  IPPI                        JAN "
                                            JACKSON  DIVISION                                    J. 
    
     WADE  JACKSON,
    
                     Plaintiff,
    
            VS.                                                              CML  ACTION  NO.  3  I'?+ 
     MOBILE  TELECOMMUNICATIONS
     TECHNOLOG&S  CORJ?OR4TION,
     a Delaware  corporation,
    JOHN  N.  PALMER,  J. ROBERT
    FUGATE  and DAVID  W.  GARRISON,
    
                    Defendants.
    
    
                                     CLASS  ACTION  COMPLAINT
    
            Plaintiff,  Wade Jackson, by and through his undersigned attorneys, alleges the following
    
    upon information  and belief,  based on publicly  available  information,  and the investigation  of
    
    counsel:
    
            1.      This  is an action alleging  violations  by the Defendants of the federal securities
    
    laws  arising  from  false statements and omissions  regarding the &an&l  condition  of  Mobile
    
    TelecommuniCation  Technologies  Corp.  ("MTEL"  or the  "Company").  PlaintifY  brings  this
    
    action  on his  Own behalf  and on behalf  of  all  persons or  entities  that acquired the common
    
    stock of  MTEL  between  October 28, 1993 and January 4,  1994.  Plaintiff  seeks, on behalf  of
    
    himself  and the Class, damages, expenses of  suit, and other relief.
    
                                     JURISDICTION         AND  VENUE
    
           2.       This  Court  has jurisdiction  of  this  action  under Section  27  of  the 
    
    Exchange  Act  of  1934 (the  "Exchange  Act"),  15 U.S.C.  §78(aa), and 28  U.S.C.  $133 1, by
    
    
    
     reason of  the  federal  questions  alleged  herein  and principles  of  supplemental 
    
    SNIPPETS:
  • MOBILE TELECOMMUNICATIONS TECHNOLOG&S CORJ?OR4TION,
  • FUGATE and DAVID W. GARRISON,
  • Plaintiff, Wade Jackson, by and through his undersigned attorneys, alleges the following
  • This is an action alleging violations by the Defendants of the federal securities
  • TelecommuniCation Technologies Corp. ("MTEL" or the "Company").
  • This Court has jurisdiction of this action under Section 27 of the Securities
  • Plaintiff brings these claims under Sections 10and 20of the Exchange Act,
  • Supplemental state law claims are brought for negligent misrepresentation.
  • including the United States mails and interstate telephone communications,
  • Defendant, MTEL, is a Delaware corporation, with its principal place of business
  • the common stock of MTEL was traded on the
  • NASDAQ National Market System in a well-developed and efficient trading market.
  • Defendant, John N. Palmer, was at all material times the Chairman
  • including the third quarter report filed during the Class Period described herein.
  • omissions as described in this Complaint.
  • Because the damages suffered by individual Class Members
  • reduced pricing for its nationwide paging service after the Page Net announcement of October '
  • 28, 1993, and the resulting effect on profitability;
  • Net income for the fourth quarter of 1992 was reported at
  • 1992 Annual Report on Form 10-K, which was thereafter filed with the SEC pursuant to the
  • on the competition in our industry.
  • led market analysts to conclude that the effect of competition from
  • Defendants named herein for the violations of the federal securities laws and state law

  • 6 . CLASS ACTION COMPLAINT

    EXTRACTED KEY WORDS
    STOCK
    PRICE
    MTT
    COMMON STOCK
    CLASS PERIOD
    REPORT
    PALMER
    SIMON
    SAMUEL
    LEONARD BARRACK
    BACINE
    RODOS
    MSB
    SMITH
    CRAIG
    JELLIFFE
    MOZINGO
    BIGGS
    EDMONSON
    PROPER
    FEES
    TXB EXCEWGE ACT
    ENORMOUS PRICE
    TERIAL FACTS
    ADVERSE
    PUBLIC DISCFTOSURB
    COMMERCIAL SERVICE
    LLAIF
    SOLD
    
                                     IN  THE  WITED  STATES  DISTRICT
                                 FOR  THE  SOUTHERN  DISTRIff                           OF
                                                            JACKSON  DIVISION                          
                                                                                                       
    
    
                                                                       :           CIVIL  ACTION
    ALVIN  LEVIN,  Tmstee                           for                :
    Winslow's            Pharmacy,             Inc.                    :
    Profit          Sharing          Plan,  on                         .
    behalf          of  himself             and  a11                   :
    others          similarly              situated,                   :
                                     Plaintiff,                        :
                         v.                                            : :
    MOBILE  TELECCMMUNICATION                                          :           my  TRI.A&  DEMANDED
    TECHNOLOGIES  CORP.,  JOKN  N.                                     :
    PALMER,  AND  J.  ROBERT  FUGATE,  : i
                                    Defendants.                        :
    
                                                    CLASS  ACTION  CWPLAIFT
    
                Plaintiff,            by  its  attorneye,                        submits  this  Class 
    Complaint             (11Complaiett4)  'against                            the  defendants      
    allegations                 made  in  this  Complaint                         are  based  on 
    belief,          except  those  allegations                                 that  pertain       to 
    Liff        and  his  counsel.                     Plaintiff's                 information      
    based,  inter                alia,        on  the  investigation                      made  by  and
    attorneys.
    
    
    
                       1.  This  fs  a  shareholder                               class  action      
    of  a  plaintiff                class           (the  MClasall)  consisting                     of 
    of  the  common  stock  of  Mobile  Telecommunication                                            
    or  the  llCompanylf)  from  March  31,  1993  through  and  including
    January  4;  1994  (the  "Class  Period").
    
    
    
                        2.  During  the  Class                    'Period,  defendants                 
    
     its  financial                condition,         prospects,               operations,          
    and  liquidity                 in  a  materially              false  and  misleading               
    Defendants               did  so  through              a  series         of  materially            
    misleading               public         statements           in  press  releases  and  filings     
    the  Securities                 and  Exchange  Commission  (flSEC~~).  Defendants'
    public          statements              concerning           the  Ccmpany'a  business,             
    liquidity               and  capital          resources,             and  prospects            were
    misleading               and  misrepresented                  and  failed            to  disclose  
    
    SNIPPETS:
  • ccmmon stock on August 17, 1993, at $28X, and has suffered
  • John N. Palmer - Chairman and Chief Executive
  • On or about March 31, 1993, MTT filed with the SEC its Report on Form IO-K for the year
  • On October 12, 1993, MTT announced t5at it had sold
  • llaif cf commercial service."
  • PUBLIC DISCftOSURB OF ADVERSE =TERIAL FACTS
  • price of $69 to $39.
  • The Company stated that this enormous price
  • SECTIONS 10AND 20QF TXB EXCEWGE ACT AM,
  • Section IOcf the Exchange Act and Rule lob-S promulgated
  • as to the price of MTT common stock.
  • stock during the Class Period.
  • expert's fees; and
  • just and proper.
  • EDMONSON, BIGGS, MOZINGO & JELLIFFE
  • Craig D. Smith (MSB #9436)
  • -and-BARRACK, RODOS & BACINE
  • Leonard Barrack
  • Samuel R. Simon
  •    |