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Tech Industry

i2 hit with class-action suit

A Vermont law firm filed a class-action lawsuit against i2 Technologies on behalf of the software maker's common stock shareholders. The complaint accuses i2 and its board of allegedly violating the Securities Exchange Act of 1934 by providing materially false and misleading information about i2's business, particularly its difficulties implementing its technology at sporting goods manufacturer Nike. As a result, the suit says, i2's stock traded at artificially inflated prices. Although no specific amount was specified, the investors are looking to recover damages.

A Vermont law firm filed a class-action lawsuit against i2 Technologies on behalf of the software maker's common stock shareholders. The complaint accuses i2 and its board of allegedly violating the Securities Exchange Act of 1934 by providing materially false and misleading information about i2's business, particularly its difficulties implementing its technology at sporting goods manufacturer Nike. As a result, the suit says, i2's stock traded at artificially inflated prices. Although no specific amount was specified, the investors are looking to recover damages.