January 1 2003
| Company: |
Leap Wireless International, Inc. |
| Ticker Symbol: |
OTC BB: LWIN |
| Class Period: |
February 11, 2002 to July 24, 2002 |
| Court: |
Southern District, CA |
| Date Filed: |
Dec-31-02 |
| Allegations: |
|
The Complaint alleges that, at the time the Company announced its financial results for the fiscal year ending on December 31, 2001 (i.e., on February 11, 2002) and throughout the remainder of the Class Period, Defendants concealed the deteriorated value of its wireless license assets by relying upon a fraudulent impairment test of those assets, which resulted in a gross and material overstatement of the value of Leap's assets in the Company's financial statements.
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