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Technology / AI and automation

MICRO WAREHOUSE MOVES TOWARD CLASS ACTION SETTLEMENT

Micro Warehouse Inc has reached a tentative settlement of the consolidated securities class action lawsuit that arose when the company announced plans in 1996 to restate certain financial statements covering a period from 1992 to 1995. The proposed settlement provides for the payment of $30m, of which up to $9m can be freely tradable common shares. The company says the settlement marks an important step in resolving all pending claims brought by shareholders.

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CBR Staff Writer

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