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Case Status:    SETTLED
On or around 05/17/1999 (Date of order of final judgment)

Filing Date: February 26, 1998

On May 24, 1999, District Court for the Eastern District of Michigan approved the settlement of the class action lawsuit filed against Data Systems Network. The complaints alleged violations of the Securities Exchange Act of 1934 resulting from alleged nondisclosures and misrepresentations of information concerning the Company's financial results and future prospects due to accounting irregularities. A settlement fund was established to benefit a class of purchasers who bought the Company's stock during the period of May 16, 1996 through February 24, 1998. The fund included $900,000 provided by the Company's insurer and 650,000 shares of the Company's common stock, which the Company issued on June 22, 1999.

COMPANY INFORMATION:

Sector: Technology
Industry: Computer Networks
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: DSYS
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. Michigan
DOCKET #: 98-CV-70854
JUDGE: Hon. John Corbett O'Meara
DATE FILED: 02/26/1998
CLASS PERIOD START: 03/05/1997
CLASS PERIOD END: 02/24/1998
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Miller Faucher Cafferty & Wexler, LLP
    101 North Main Street - Suite 570, Miller Faucher Cafferty & Wexler, LLP, MI 48104
    734.769.2144 ·
  2. Wolf Popper, LLP
    845 Third Avenue, Wolf Popper, LLP, NY 10022-6689
    877.370.7703 212.486.2093 · IRRep@wolfpopper.com
No Document Title Filing Date
COURT: E.D. Michigan
DOCKET #: 98-CV-70854
JUDGE: Hon. John Corbett O'Meara
DATE FILED: 07/10/1998
CLASS PERIOD START: 05/15/1996
CLASS PERIOD END: 02/24/1998
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Miller Faucher Cafferty & Wexler, LLP
    101 North Main Street - Suite 570, Miller Faucher Cafferty & Wexler, LLP, MI 48104
    734.769.2144 ·
  2. Wolf Popper, LLP
    845 Third Avenue, Wolf Popper, LLP, NY 10022-6689
    877.370.7703 212.486.2093 · IRRep@wolfpopper.com
No Document Title Filing Date