Great Wolf Resorts Inc. Class Action Dismissed

A class action lawsuit filed by investors against Great Wolf Resorts Inc. alleged its 2004 initial public offering and subsequent July 2005 announcement that earnings fell short of expectations for the second quarter of 2005, violated securities laws. A securities fraud lawsuit filed in December 2005 alleged its stockholders lost millions through inflated stock prices since the company went public. The suit claimed the company knew and concealed it had defective internal operational controls and issued false and misleading earning forecasts to maintain an inflated stock price. Great Wolf Resorts is America's largest developer of indoor water park resorts. The United States District Court of the Western District of Wisconsin dismissed the pending consolidated class action complaint. (Jun-14-06) [TRADING MARKETS]