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January 10, 1988

TANDON SETTLES SECURITIES CLASS ACTION AND SHAREHOLDER LAWSUITS

By CBR Staff Writer

Tandon Corp, Chatsworth, California has has reached agreement in principle, subject to court approval, to settle securities class action and related shareholder lawsuits initially filed in July: Tandon has not admitted any liability and says almost all the cash portion of the settlement will be covered by insurance; the settlement fund will consist of $8m in cash, 930,000 Tandon shares, and $10m face amount of coupons to be used toward the purchase of Tandon computers; if they are not so used, they can be exchanged at 35 percent of face amount for cash or Tandon shares; up to $100 in coupons can apply toward purchase of each computer.

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