Fraud-ridden contract computer products manufacturer Comptronix Corp, Guntersville, Alabama, says it is continuing negotiations with its bank lenders and term lenders to complete an overall restructuring of its financing package, but uncertainties over the shareholder class action litigation may affect its ability to complete restructuring, so it is trying to reach a settlement of the suits, although there is no guarantee that a restructuring or settlement will be achieved; it also confirmed that it has terminated employment of Allen Shifflett and Paul Medlin for cause – both had earlier been suspended following discovery of the fraud.
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