Masstor System Corp, Santa Clara, California, has settled the class action lawsuit filed against it in 1984, and has had to raise $1.5m for its share of the settlement, most of it from a private placing of shares: it will therefore have to record a $1.5m one-time charge for the quarter to September 30, having […]
Masstor System Corp, Santa Clara, California, has settled the class action lawsuit filed against it in 1984, and has had to raise $1.5m for its share of the settlement, most of it from a private placing of shares: it will therefore have to record a $1.5m one-time charge for the quarter to September 30, having a negative effect on what is historically a slow quarter; a final court approval of the settlement is likely in November.
