Short Take: Microtest suit dismissed

An Arizona Superior Court has dismissed a class-action lawsuit filed against Microtest, a maker of connectivity and diagnostic products. The Maricopa County, Arizona, court's ruling brings an end to court action, initiated last September by shareholders who sued Microtest for alleged securities fraud and insider trading. Microtest's CEO Richard G. Meise said in a statement today that the court's ruling validates his company's claim that the case was without merit.