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June 28, 1990

DSC COMMUNICATIONS HAS TOP MEET $9M OF LAWSUIT

By CBR Staff Writer

Despite insurance, some of those shareholder class action lawsuits do costs companies real money, and DSC Communications Corp, which had to answer charges rather less frivolous than is usually the case, is having to meet $9m of a $30m award made by a Dallas court against the company, top officers, auditors Arthur Andersen & Co and its investment banker: the lawsuit alleged that shareholders were defrauded by the company publishing inflated financial statements for some periods of 1984 and 1985; the company subsequently changed its accounting procedures and redid the figures.

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