Telebit announced a settlement in the 1995 class-action litigation against Telebit and its current or former officers and directors on behalf of shareholders who alleged violations of federal securities laws. The settlement requires Telebit to contribute $200,000 of the $2 million settlement, with the remainder to come from insurance. The settlement is subject to approval by the federal district court in Boston. Telebit develops remote access solutions for computer networks.
Short: Telebit announced $2 million settlement
Telebit announced a settlement in the 1995 class-action litigation against Telebit and its current or former officers and directors on behalf of shareholders who alleged violations of federal securities laws. The settlement requires Telebit to contribute $200,000 of the $2 million settlement, with the remainder to come from insurance. The settlement is subject to approval by the federal district court in Boston. Telebit develops remote access solutions for computer networks.