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Case Status:    SETTLED
On or around 06/17/1998 (Date of order of final judgment)

Filing Date: March 28, 1997

According to the firm's 10-K dated 10/27/1998, on January 12, 1998, the Company announced that it had reached an agreement in principle settling the Shareholder Securities Class Action ("Lawsuit") filed against the Company and certain of its officers in March 1997. The settlement, which was approved by the Court on June 15, 1998, resulted in the distribution of $1,350,000 minus approved attorney's fees and related expenses, to purchasers of the Company's common stock in the Company's initial public offering, and during the period of November 26, 1996 to February 13, 1997. The entire $1,350,000 cash settlement was paid by the Company's insurance
carrier. The settlement included a release of all claims that were asserted or
that could have been asserted in the Lawsuit against the Company and its
officers and directors. The Company agreed to the settlement solely to avoid the expense, burdens and uncertainties of further litigation and continues to deny that it has any liability on account of the matters asserted in the litigation or that the Plaintiffs' claims have merit.


Sector: Technology
Industry: Software & Programming
Headquarters: United States


Ticker Symbol: MANC
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data

"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: E.D. New York
DOCKET #: 97-CV-1504
JUDGE: Hon. Michael L. Orenstein
DATE FILED: 03/28/1997
CLASS PERIOD END: 02/13/1997
  1. Bernstein Litowitz Berger & Grossmann LLP (Westfield, NJ)
    220 St. Paul Street, Bernstein Litowitz Berger & Grossmann LLP (Westfield, NJ), NJ 07090
    908.928.1700 908.301.9008 ·
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