According to a court docket, the court dismissed the case with a $900,000 class settlement on November 30, 1999.

According to a Press Release dated 8/31/98, the action charges that MTI Technology issued materially false and misleading statements during the Class Period about the results for its 1998 fiscal first quarter. In particular, it is charged that, on May 21, 1998, MTI's senior officers, in a conference call with stock market analysts, misrepresented the continuing negative impact sales from Europe were having on first quarter results and failed to inform investors of the continuing delay in its Gladiator Enterprise 3600 Fibre Channel Storage System.