Medtech Insight is part of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call +44 (0) 20 3377 3183

Printed By

UsernamePublicRestriction
UsernamePublicRestriction

ADAC Labs

This article was originally published in The Gray Sheet

Executive Summary

Company reaches agreement-in-principle to settle a consolidated class action lawsuit alleging the company issued false and misleading financial results from January 1996 to December 1998 (1"The Gray Sheet" Jan. 18, 1999, In Brief). The settlement, which is contingent upon approval by the federal court in the Northern District of California, will award the plaintiff class $20 mil. An agreement also has also been reached in related litigation brought against current and former company executives, calling for the defendants to "contribute their respective benefits under certain directors and officers insurance policies to the company." The total pre-tax cost to the company, including legal fees, amounts to $10-11 mil., and this amount will be reflected in the company's first fiscal quarter of 2000, ended Jan. 2
Advertisement

Related Content

Advertisement
UsernamePublicRestriction

Register

MT012816

Ask The Analyst

Please Note: You can also Click below Link for Ask the Analyst
Ask The Analyst

Your question has been successfully sent to the email address below and we will get back as soon as possible. my@email.address.

All fields are required.

Please make sure all fields are completed.

Please make sure you have filled out all fields

Please make sure you have filled out all fields

Please enter a valid e-mail address

Please enter a valid Phone Number

Ask your question to our analysts

Cancel