StellEnt Securities Litigation

On July 31, 2003, Zimmerman Reed filed a securities class action lawsuit on behalf of Stellent, Inc. (Nasdaq: STEL) shareholders who purchased or acquired common stock during the period from October 3, 2001 through April 1, 2002 (“Class Period”). The action was filed in the United States District Court for the District of Minnesota, alleging Stellent and certain of its officers and directors issued a series of materially false and misleading statements and omitted material facts concerning the company's financial condition. Specifically, Plaintiffs alleged Stellent misrepresented and omitted information concerning the company's reported revenue and related party activities. As a result of Defendants' false statements, the company's stock traded at artificially inflated levels.

On November 16, 2005, District Court Judge Richard H. Kyle granted final approval of the proposed $12 million Settlement.

Stellent's Historical Stock Prices and Class Period - October 2, 2001 through April 1, 2002: