Securities Litigation: Jarden

Darquea v. Jarden Corp. et al
USDC SD New York
Disclosure
Acquisition

Background

Company background

Litigation background

Darquea v. Jarden Corp. et al
10(b) and 20(a) claims over statements about expected benefits of an acquisition
USDC SD New York (White Plains) 7:06-cv-00722-CLB
Initially filed 1.31.06

Lead plaintiffs

Imperial County Employees Retirement System
Construction Industry and Laborers Joint Pension Trust and City of Pontiac Policemans and Firemens Retirement System

SEC disclosure

Form 10-Q 7.31.08 At page 29
In January and February 2006, purported class action lawsuits were filed in the Federal District Court for the Southern District of New York against the Company and certain Company officers alleging violations of the federal securities laws. The actions were filed on behalf of purchasers of the Companys common stock during the period from June 29, 2005 (the date the Company announced the signing of the agreement to acquire Holmes) through January 11, 2006.

The complaints, which are substantially similar to one another, allege, among other things, that the plaintiffs were injured by reason of certain allegedly false and misleading statements made by the Company relating to the expected benefits of the THG Acquisition. Joint lead plaintiffs were appointed on June 9, 2006.

The lead plaintiffs filed an amended consolidated complaint on August 25, 2006 naming the Company, Consumer Solutions and certain officers of the Company as defendants (collectively Defendants) and containing substantially the same allegations as in the initial complaints. On October 20, 2006, Defendants filed a motion to dismiss the consolidated amended complaint. On May 31, 2007, the Court issued an opinion denying Defendants motion to dismiss. On July 3, 2007, Defendants filed a Motion for Reconsideration of the order denying Defendants motion to dismiss. On September 5, 2007, the court granted Defendants motion for reconsideration, but reaffirmed its May 31, 2007 denial of Defendants motion to dismiss. Defendants answered the amended consolidated complaint on July 10, 2007. On September 10, 2007, Plaintiffs moved for class certification. On March 6, 2008, the Court issued an opinion certifying a class comprised of purchasers of the Companys common stock during the period from June 29, 2005 through January 11, 2006.

Claims

Complaint