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Short Take: Shiva investors sue

Shiva investors have brought a class-action lawsuit against the company charging it with misrepresenting the market demand for its products, its competitive strength, and financial health. One of the defendants is charged with profiting from the false information to the tune of $1.9 million. The suit was filed in the U.S. District Court, Southern District of New York, on behalf of investors who bought Shiva stock between September 23, 1996 and March 13, 1997.

Shiva investors have brought a class-action lawsuit against the company charging it with misrepresenting the market demand for its products, its competitive strength, and financial health. One of the defendants is charged with profiting from the false information to the tune of $1.9 million. The suit was filed in the U.S. District Court, Southern District of New York, on behalf of investors who bought Shiva stock between September 23, 1996 and March 13, 1997.