Insider filing report for Changes in Beneficial Ownership
- Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
- Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
"Insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise"
- Peter Lynch
What is insider trading>>
- Peter Lynch
What is insider trading>>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Rule 13d-101
Under the Securities Exchange Act of 1934
(Amendment No. 5)*
Ironstone Group, Inc.
- --------------------------------------------------------------------------------
(Name of Issuer)
Common Stock
- --------------------------------------------------------------------------------
(Title of Class of Securities)
463228-20-5
- --------------------------------------------------------------------------------
(CUSIP Number)
Steven N. Machtinger
Hambrecht & Quist California
560 Mission Street
San Francisco, CA 94105
(415) 315-5000
- --------------------------------------------------------------------------------
(Name, Address and Telephone Number of Person Authorized
to Receive Notices and Communications)
09/17/2003
- --------------------------------------------------------------------------------
(Date of Event which Requires Filing of this Statement)
- --------------------------------------------------------------------------------
If the filing person has previously filed a statement on Schedule 13G to
report the acquisition that is the subject of this Schedule 13D, and is filing
this schedule because of ss. 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check
the following box. |_|
NOTE: Schedules filed in paper format shall include a signed original and
five copies of the schedule, including all exhibits. See Rule 13d-7 for other
parties to whom copies are to be sent.
* The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
Page 1 of 10 Pages
CUSIP No. 463228-20-5
- --------------------------------------------------------------------------------
(1) Names and I.R.S. Identification Nos.(entities only) of reporting persons.
Hambrecht & Quist California
94-2856927
- --------------------------------------------------------------------------------
(2) Check the appropriate box if a member of a group (see instructions) (a)|_|
(b)|X|
- --------------------------------------------------------------------------------
(3) SEC use only.
- --------------------------------------------------------------------------------
(4) Source of funds (see instructions).
- --------------------------------------------------------------------------------
(5) Check if disclosure of legal proceedings is required pursuant to Items |X|
2(d) or 2(e).
- --------------------------------------------------------------------------------
(6) Citizenship or place of organization.
California
- --------------------------------------------------------------------------------
Number of shares beneficially owned by each reporting person with:
(7) Sole voting power:
0
(8) Shared voting power:
0
(9) Sole dispositive power:
0
(10) Shared dispositive power:
0
- --------------------------------------------------------------------------------
(11) Aggregate amount beneficially owned by each reporting person.
0
- --------------------------------------------------------------------------------
(12) Check if the aggregate amount in Row (11) excludes certain shares |_|
(see instructions).
- --------------------------------------------------------------------------------
(13) Percent of class represented by amount in Row (11).
0%
- --------------------------------------------------------------------------------
(14) Type of reporting person (see instructions).
CO
- --------------------------------------------------------------------------------
Page 2 of 10 Pages
CUSIP No. 463228-20-5
- --------------------------------------------------------------------------------
(1) Names and I.R.S. Identification Nos.(entities only) of reporting persons.
J.P. Morgan Securities Inc.
- --------------------------------------------------------------------------------
(2) Check the appropriate box if a member of a group (see instructions) (a)|_|
(b)|X|
- --------------------------------------------------------------------------------
(3) SEC use only.
- --------------------------------------------------------------------------------
(4) Source of funds (see instructions).
- --------------------------------------------------------------------------------
(5) Check if disclosure of legal proceedings is required pursuant to Items |X|
2(d) or 2(e).
- --------------------------------------------------------------------------------
(6) Citizenship or place of organization.
Delaware
- --------------------------------------------------------------------------------
Number of shares beneficially owned by each reporting person with:
(7) Sole voting power:
0
(8) Shared voting power:
0
(9) Sole dispositive power:
0
(10) Shared dispositive power:
0
- --------------------------------------------------------------------------------
(11) Aggregate amount beneficially owned by each reporting person.
0
- --------------------------------------------------------------------------------
(12) Check if the aggregate amount in Row (11) excludes certain shares |_|
(see instructions).
- --------------------------------------------------------------------------------
(13) Percent of class represented by amount in Row (11).
0%
- --------------------------------------------------------------------------------
(14) Type of reporting person (see instructions).
BD, CO
- --------------------------------------------------------------------------------
Page 3 of 10 Pages
CUSIP No. 463228-20-5
- --------------------------------------------------------------------------------
(1) Names and I.R.S. Identification Nos.(entities only) of reporting persons.
Hambrecht & Quist Venture Partners
94-2949080
- --------------------------------------------------------------------------------
(2) Check the appropriate box if a member of a group (see instructions) (a)|_|
(b)|X|
- --------------------------------------------------------------------------------
(3) SEC use only.
- --------------------------------------------------------------------------------
(4) Source of funds (see instructions).
- --------------------------------------------------------------------------------
(5) Check if disclosure of legal proceedings is required pursuant to Items |_|
2(d) or 2(e).
- --------------------------------------------------------------------------------
(6) Citizenship or place of organization.
California
- --------------------------------------------------------------------------------
Number of shares beneficially owned by each reporting person with:
(7) Sole voting power:
0
(8) Shared voting power:
0
(9) Sole dispositive power:
0
(10) Shared dispositive power:
0
- --------------------------------------------------------------------------------
(11) Aggregate amount beneficially owned by each reporting person.
0
- --------------------------------------------------------------------------------
(12) Check if the aggregate amount in Row (11) excludes certain shares |_|
(see instructions).
- --------------------------------------------------------------------------------
(13) Percent of class represented by amount in Row (11).
0%
- --------------------------------------------------------------------------------
(14) Type of reporting person (see instructions).
PN
- --------------------------------------------------------------------------------
Page 4 of 10 Pages
CUSIP No. 463228-20-5
- --------------------------------------------------------------------------------
(1) Names and I.R.S. Identification Nos.(entities only) of reporting persons.
H&Q Ventures IV
- --------------------------------------------------------------------------------
(2) Check the appropriate box if a member of a group (see instructions) (a)|_|
(b)|X|
- --------------------------------------------------------------------------------
(3) SEC use only.
- --------------------------------------------------------------------------------
(4) Source of funds (see instructions).
- --------------------------------------------------------------------------------
(5) Check if disclosure of legal proceedings is required pursuant to Items |_|
2(d) or 2(e).
- --------------------------------------------------------------------------------
(6) Citizenship or place of organization.
California
- --------------------------------------------------------------------------------
Number of shares beneficially owned by each reporting person with:
(7) Sole voting power:
0
(8) Shared voting power:
0
(9) Sole dispositive power:
0
(10) Shared dispositive power:
0
- --------------------------------------------------------------------------------
(11) Aggregate amount beneficially owned by each reporting person.
0
- --------------------------------------------------------------------------------
(12) Check if the aggregate amount in Row (11) excludes certain shares |_|
(see instructions).
- --------------------------------------------------------------------------------
(13) Percent of class represented by amount in Row (11).
0%
- --------------------------------------------------------------------------------
(14) Type of reporting person (see instructions).
PN
- --------------------------------------------------------------------------------
Page 5 of 10 Pages
CUSIP No. 463228-20-5
- --------------------------------------------------------------------------------
(1) Names and I.R.S. Identification Nos.(entities only) of reporting persons.
Venture Associates (BVI) Limited
- --------------------------------------------------------------------------------
(2) Check the appropriate box if a member of a group (see instructions) (a)|_|
(b)|X|
- --------------------------------------------------------------------------------
(3) SEC use only.
- --------------------------------------------------------------------------------
(4) Source of funds (see instructions).
- --------------------------------------------------------------------------------
(5) Check if disclosure of legal proceedings is required pursuant to Items |_|
2(d) or 2(e).
- --------------------------------------------------------------------------------
(6) Citizenship or place of organization.
Bermuda
- --------------------------------------------------------------------------------
Number of shares beneficially owned by each reporting person with:
(7) Sole voting power:
0
(8) Shared voting power:
0
(9) Sole dispositive power:
0
(10) Shared dispositive power:
0
- --------------------------------------------------------------------------------
(11) Aggregate amount beneficially owned by each reporting person.
0
- --------------------------------------------------------------------------------
(12) Check if the aggregate amount in Row (11) excludes certain shares |_|
(see instructions).
- --------------------------------------------------------------------------------
(13) Percent of class represented by amount in Row (11).
0%
- --------------------------------------------------------------------------------
(14) Type of reporting person (see instructions).
CO
- --------------------------------------------------------------------------------
Page 6 of 10 Pages
CUSIP No. 463228-20-5
- --------------------------------------------------------------------------------
(1) Names and I.R.S. Identification Nos.(entities only) of reporting persons.
Hamquist
- --------------------------------------------------------------------------------
(2) Check the appropriate box if a member of a group (see instructions) (a)|_|
(b)|X|
- --------------------------------------------------------------------------------
(3) SEC use only.
- --------------------------------------------------------------------------------
(4) Source of funds (see instructions).
- --------------------------------------------------------------------------------
(5) Check if disclosure of legal proceedings is required pursuant to Items |_|
2(d) or 2(e).
- --------------------------------------------------------------------------------
(6) Citizenship or place of organization.
California
- --------------------------------------------------------------------------------
Number of shares beneficially owned by each reporting person with:
(7) Sole voting power:
0
(8) Shared voting power:
0
(9) Sole dispositive power:
0
(10) Shared dispositive power:
0
- --------------------------------------------------------------------------------
(11) Aggregate amount beneficially owned by each reporting person.
0
- --------------------------------------------------------------------------------
(12) Check if the aggregate amount in Row (11) excludes certain shares |_|
(see instructions).
- --------------------------------------------------------------------------------
(13) Percent of class represented by amount in Row (11).
0%
- --------------------------------------------------------------------------------
(14) Type of reporting person (see instructions).
PN
- --------------------------------------------------------------------------------
Page 7 of 10 Pages
CUSIP No. 463228-20-5
- --------------------------------------------------------------------------------
(1) Names and I.R.S. Identification Nos.(entities only) of reporting persons.
H&Q Ventures Management Co. LLC
- --------------------------------------------------------------------------------
(2) Check the appropriate box if a member of a group (see instructions) (a)|_|
(b)|X|
- --------------------------------------------------------------------------------
(3) SEC use only.
- --------------------------------------------------------------------------------
(4) Source of funds (see instructions).
- --------------------------------------------------------------------------------
(5) Check if disclosure of legal proceedings is required pursuant to Items |_|
2(d) or 2(e).
- --------------------------------------------------------------------------------
(6) Citizenship or place of organization.
Delaware
- --------------------------------------------------------------------------------
Number of shares beneficially owned by each reporting person wit
h:
(7) Sole voting power:
0
(8) Shared voting power:
0
(9) Sole dispositive power:
0
(10) Shared dispositive power:
0
- --------------------------------------------------------------------------------
(11) Aggregate amount beneficially owned by each reporting person.
0
- --------------------------------------------------------------------------------
(12) Check if the aggregate amount in Row (11) excludes certain shares |_|
(see instructions).
- --------------------------------------------------------------------------------
(13) Percent of class represented by amount in Row (11).
0%
- --------------------------------------------------------------------------------
(14) Type of reporting person (see instructions).
CO
- --------------------------------------------------------------------------------
Page 8 of 10 Pages
Item 1. Security and Issuer.
This Amendment to Schedule 13D relates to the common stock (the "Common
Stock") of Ironstone Group, Inc., a Delaware corporation (the "Issuer").
The principal executive office of the Issuer is located at 9665
Chesapeake Drive, Suite 430, San Diego, CA 92123. This Amendment is
being filed to report that the reporting persons have disposed of their
holdings in the Issuer and have ceased to be reporting persons.
Item 2. Identity and Background.
(a) No changes from Amendment No. 4 except that Chase Securities
Inc. merged with J.P. Morgan Securities Inc. and now operates under
the name J.P. Morgan Securities Inc.
(b) No changes from Amendment No. 4 except that Hambrecht & Quist
California's address is now 560 Mission Street, San Francisco, CA
94105.
(c) No changes from Amendment No. 4 except as follows:
1. The directors and officers of Hambrecht & Quist California are
as follows:
David Golden (Chief Executive Officer and Director) whose principal
occupation is as a managing director of J.P. Morgan Chase & Co.,
Inc.
James Hutter (Director) whose principal occupation is as a managing
director of J.P. Morgan Partners LLC.
Lisa Lewis (Chief Financial Officer and Director) whose princial
occupation is as a vice president of J.P. Morgan Chase & Co., Inc.
Steven N. Machtinger (General Counsel and Sectretary) whose
principal occupation is as a managing director of J.P. Morgan Chase
& Co., Inc.
The principal address of these persons is c/o Hambrecht & Quist
California, 560 Mission Street, San Francisco, CA 94105.
2. The officers and directors of J.P. Morgan Securities Inc.
(formerly Chase Securities Inc.) are Paul W. Brandow, James M.
Collins, Felice Di Iorio, Margaret B. Serravalli, John Steinhardt
and Mark Werner. All of these persons are directors and managing
directors of J.P. Morgan Chase and Co, Inc. except for James Collins
who is a director and vice president. The address for all of these
persons is c/o J.P. Morgan Securities Inc., 270 Park Avenue, New
York, NY 10017. The principal occupation of each such person is the
same as their title with J.P. Morgan Securities Inc.
(d) To the best knowledge of the reporting persons, during the last
five years none of the reporting persons or their officers,
directors or controlling persons has been convicted in a criminal
proceeding (excluding traffic violations or similar misdemeanors).
(e) In April 2002, the Securities and Exchange Commission ("SEC")
along with the New York Stock Exchange, Inc. ("NYSE"), NASD, Inc.
("NASD"), the Office of the New York Attorney General and other
state attorneys general and securities regulators launched a joint
investigation into research analyst conflicts of interest at J.P.
Morgan Securities Inc. ("JPMSI") and eleven other large
investment-banking firms.
In April 2003, this matter was resolved against JPMSI and nine other
firms in what has been referred to as a "global settlement." As
part of this settlement, on April 28, 2003, the SEC filed a
complaint ("Complaint") against JPMSI in the United States District
Court for Southern District of New York (the "District Court") in a
civil action captioned Securities and Exchange Commission v. J.P.
Morgan Securities Inc., docket number 03 CV 2939 (the "Action").
The Complaint alleges that JPMSI violated NASD Conduct Rules 2110,
2210(d)(1)(A), and 3010 and NYSE Rules 342, 401, 472, and 476(a)(6)
by engaging in acts and practices that created and/or maintained
inappropriate influence by the investment banking department over
JPMSI research analysts, thereby imposing conflicts of interest on
JPMSI's research analysts; failing to manage these conflicts in an
adequate or appropriate manner; making payments to other
broker-dealers not involved in an underwriting transaction when the
firm knew that these payments were made, at least in part, for
research coverage, and failing to disclose or cause to be disclosed
in offering documents or elsewhere the fact of such payments; and
failing to establish and maintain adequate policies, systems, and
procedures reasonably designed to detect and prevent the foregoing
investment banking influences and conflicts of interest. The SEC
sought relief in the form of an injunction, disgorgement of proceeds
JPMSI obtained as a result of the conduct described in the
Complaint, a civil penalty, and other payments. The Complaint was
served on JPMSI on May 1, 2003.
On April 21, 2003, JPMSI executed a Consent in which it neither
admitted nor denied the allegations of the Complaint and consented
to the entry of a Final Judgment in the Action. The Final Judgment,
if entered as submitted, will permanently enjoin JPMSI from
violating the NYSE and NASD rules cited above. It will also order
JPMSI to make payments totaling $80 million, including $25 million
as a penalty, $25 million as disgorgement of commissions and other
monies, $25 million to be used for the procurement of independent
research, and $5 million to be used for investor education. JPMSI
will make the required payments in accordance with the time schedule
set forth in the Final Judgment. In addition, the Final Judgment
will order JPMSI to comply with undertakings set forth in an
addendum to the Final Judgment, which include certain structural and
other reforms intended to address research analyst conflicts of
interest. JPMSI will comply with the undertakings.
On July 28, 2003, the Securities & Exchange Commission filed a
complaint in the United States District Court for the Southern
District of Texas alleging that during the period of December 1997
to September 2001, J.P. Morgan Chase & Co. ("JPMC") aided and
abetted Enron Corp.'s violation of the antifraud provisions of the
federal securities laws, Section 10(b) of the Securities Exchange
Act of 1934 and Exchange Act Rule 10b-5. JPMC is the parent company
of Hambrecht & Quist California and J.P. Morgan Securities Inc. The
Complaint alleged that Enron Corp. manipulated its reported
financial results through a series of commodity derivative
transactions known as prepays which were entered into with JPMC.
JPMC consented, without admitting or denying the allegations of the
complaint, to the entry of a final judgment. On July 28, 2003 the
United States District Court for the Southern District of Texas
entered a final judgment, (1) enjoining JPMC, its agents, servants,
employees, attorneys, assigns and all persons in active concert or
participation with them who receive actual notice of the final
judgment by personal service or otherwise from violating, directly
or indirectly, Section 10(b) of the Exchange Act and Rule 10b-5
promulgated thereunder; and (2) ordering JPMC to pay a total of
$135,000,000: $65,000,000 representing disgorgement, prejudgment
interest thereon in the amount of $5,000,000, and a civil penalty of
$65,000,000 pursuant to Section 21(d) of the Exchange Act. No
portion of the penalty was waived. JPMC made payment of
$135,000,000 on July 28, 2003.
(f) See above.
Item 3. Source and Amount of Funds or Other Consideration.
No changes from Amendment no. 4
Item 4. Purpose of Transaction.
No changes from Amendment No. 4.
Item 5. Interest in Securities of the Issuer.
(a) None.
(b) None.
(c) On September 17, 2003, the persons listed below sold that number
of shares set forth next to their names for a price per share of
$0.70 in private transactions.
(d) No changes from Amendment No. 4.
(e) September 17, 2003.
Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to
Securities of the Issuer.
No changes from Amendment No. 4.
Item 7. Material to be Filed as Exhibits.
Exhibit 1 - Joint Filing Undertaking filed as part of Amendment No. 4 is
hereby incorporated by reference.
Page 9 of 10 Pages
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
Hamquist
Date: 09/23/2003 /s/ Jackie A. Berterretche
Name: Jackie A. Berterretche
Title: Attorney-in-Fact
Hambrecht & Quist California
Date: 09/23/2003 /s/ Steven N. Machtinger
Name: Steven N. Machtinger
Title: General Counsel
J.P. Morgan Securities Inc.
Date: 09/23/2003 /s/ Steven N. Machtinger
Name: Steven N. Machtinger
Title: Managing Director
Hambrecht & Quist Venture Partners
Date: 09/23/2003 /s/ Jackie A. Berterretche
Name: Jackie A. Berterretche
Title: Attorney-in-Fact
H&Q Ventures Management Co. LLC
Date: 09/23/2003 /s/ Steven N. Machtinger
Name: Steven N. Machtinger
Title: Officer of its General
Partner
H&Q Ventures IV
Date: 09/23/2003 /s/ Jackie A. Berterretche
Name: Jackie A. Berterretche
Title: Attorney-in-Fact
Venture Associates (BVI) Limited
Date: 09/23/2003 /s/ Chiquita Harding
Name: Chiquita Harding
Title: Assistant Treasurer
The original statement shall be signed by each person on whose behalf the
statement is filed or his authorized representative. If the statement is signed
on behalf of a person by his authorized representative (other than an executive
officer or general partner of the filing person), evidence of the
representative's authority to sign on behalf of such person shall be filed with
the statement: Provided, however, That a power of attorney for this purpose
which is already on file with the Commission may be incorporated by reference.
The name and any title of each person who signs the statement shall be typed or
printed beneath his signature.
ATTENTION--Intentional misstatements or omissions of fact constitute Federal
criminal violations (See 18 U.S.C. 1001). (Secs. 13(d), 13(g), 14(d), 23, 48
Stat. 894, 895, 901; sec. 8, 49 Stat. 1379; sec. 203(a), 49 Stat. 704; sec. 10,
78 Stat. 88a; Secs. 2, 3, 82 Stat. 454, 455; secs. 1, 2, 3-5, 84 Stat. 1497;
sec. 18, 89 Stat. 155; secs. 202, 203, 91 Stat. 1494, 1498, 1499; 15 U.S.C.
78m(d), 78m(g), 78n(d), 78w) [44 FR 2145, Jan. 9, 1979; 44 FR 11751, Mar. 2,
1979; 44 FR 70340, Dec. 6, 1979; 47 FR 11466, Mar. 16, 1982; 61 FR 49959, Sept.
24, 1996; 62 FR 35340, July 1, 1997; 63 FR 2867, Jan. 16, 1998; 63 FR 15287,
Mar. 31, 1998]
Page 10 of 10 Pages