Case Number: No. 99-371-GMS
Practice Area: Securities Fraud & Investor Protection
Case Status: Settled
Settlement Amount: $16.5 million
Court: United States District Court for the District of Delaware
Berger Montague served as Lead Counsel and obtained a $16.5 million settlement in this securities fraud class action in the United States District Court for the District of Delaware against Adams Golf and its top officers and directors in connection with Adams Golf’s initial public offering. The case also named as defendants the underwriters for the IPO. Led by Executive Shareholder Sherrie R. Savett, the lawsuit claimed that the offering documents for the IPO misrepresented and failed to disclose the material risk posed by gray marketing. At the time of the IPO, according to the plaintiffs, Adams Golf’s business was severely impacted as a result of ongoing gray marketing activity that involved discounters’ sale of Adams Golf clubs at low prices.
If you are an investor and have questions about a potential securities fraud lawsuit, please contact Berger Montague.
About Berger Montague
Berger Montague is a national law firm focusing on complex civil litigation in federal and state courts throughout the United States. For over half a century, Berger Montague has played lead roles in consequential, precedent-setting cases and has recovered over $50 billion for its clients and the classes they have represented. Berger Montague is headquartered in Philadelphia and has offices in Chicago, Minneapolis, San Diego, San Francisco, Toronto, and Washington, D.C.