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Technology / AI and automation

TRICORD LATEST CLASS ACTION SUIT VICTIM

Plymouth, Minnesota-based Tricord Systems Inc is the latest victim of shareholder blackmail – class action lawsuits alleging federal securities law violations have been filed against the company and some of its directors and officers in response to its announcement that second quarter revenues would be below analysts’ expectations; the complaints are without merit and it plans to defend itself against the suits, the company said, but usually they end up settling as legal costs start mounting dangerously.

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CBR Staff Writer

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