Tandem Computers Inc, Cupertino, says that it will have to take a $6m net charge with its fiscal second quarter figures to cover the costs of settling an October 1984 class action suit arising from its 1982 restatement of revenues and earnings: the settlement, which will not materially affect Tandem’s financial position, calls for the claims against Tandem and the individual defendants to be dismissed without any admission or presumption of liability by the defendants, with a payout of $16.5m to which Tandem will contribute $9.375m on a pre-tax basis, insurance the rest.
TANDEM TO COVER COSTS OF CLASS ACTION SUIT
