View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
May 27, 1987

COMPUTER MEMORIES SETTLES CLASS ACTION

By CBR Staff Writer

Computer Memories Inc, Chatsworth, California has settled the class action suit filed by dissident shareholders in September 1984 alleging misstatements and omissions in its August 1983 prospectus. The defendants will establish a reserve totalling $15.5m, $7m cash from insurance, $4m in cash and $3.5m in new shares from Computer Memories. Computer Memories, now a cash shell, maintains that the allegations are without merit, but did not want the expense of conducting a lengthy jury trial. The settlement cuts the firm’s cashpile down to about $25m.

Content from our partners
Powering AI’s potential: turning promise into reality
Unlocking growth through hybrid cloud: 5 key takeaways
How businesses can safeguard themselves on the cyber frontline

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
THANK YOU