IT Group, Inc.

Company Name
IT Group, Inc.
Stock Symbol
Class Period
October 21, 1998 to February 23, 2000
United States District Court, Western District of Pennsylvania
Settled Case

On February 27, 2003 a claim was filed in the United States District Court for the Western District of Pennsylvania, Case No. 02-1927, on behalf of shareholders who purchased securities of IT Group, Inc. ("IT Group”) between October 21, 1998 and February 23, 2000, inclusive (the “Class Period”).

The Complaint charges certain of IT Group’s directors, executive officers and others with violations of federal securities laws.  Among other things, plaintiff claims that defendants' omissions and misleading statements concerning IT Group’s business operations and financial performance caused IT Group’s stock price to become artificially inflated, inflicting damages on investors.  The amount of $3.4 million was recovered in damages on behalf of IT Group shareholders.