According to the docket, on January 15, 1999, a Motion was filed by the defendant to stay discovery in the parallel state securities class action, and on January 29, 1999, the Court entered a Stipulation and Order for voluntary dismissal of the class action. There is no mention in the Notice of Settlement for the state court action of a settlement involving the federal action.

The complaint charges P-Com and certain of its officers and directors with violations of the securities laws. P-Com supplies equipment and services for access to worldwide telecommunications and broadcast networks. This action arises out of defendants' dissemination of false and misleading statements about P-Com's business, operations and prospects, which statements were made for the purpose of allowing the individual defendants herein to sell over 672,000 shares of their P-Com stock at prices as high as $23 per share for proceeds of more than $13.1 million and allowing P-Com to use (sell) $42 million worth of P-Com stock as currency to acquire Central Resources Corporation ("CRC"), RT Masts Limited ("RT Masts") and Telematics, Inc. ("Telematics").