Case Conclusion Date:January 26, 2005
Outcome:$3.25 Million Settlement
Description:Mr. Fleming successfully represented the founders of a small software company in a securities fraud case in the U.S. District Courtâ€”Northern District of Georgia. The clients were the founders of an Indiana company that developed and sold computer-based practice management systems to medical offices. The defendant corporation acquired the company in a stock-for-stock exchange. Soon after the merger (and prior to the clients being able to sell their newly acquired stock), the stock price of the acquiring company crashed. Mr. Fleming asserted claims against the acquiring company and its top management based on false and misleading statements made in the Merger Agreement about the defendantâ€™s financial condition and business prospects. The case settled on the eve of trial for $3,250,000.00.