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Case Status:    SETTLED
On or around 02/23/1999 (Date of order of final judgment)

Filing Date: March 02, 1998

According to a press release dated March 5, 1999, Raster Graphics (Pink Sheets: RGFX) today announced the final judicial approval of the settlement of certain class action lawsuits, which were pending against the Company since March 1998. The lawsuits alleged that the Company and several of its officers and directors violated federal securities laws. Judicial approval of the settlement of these lawsuits is a condition to the proposed merger between Raster Graphics and Gretag Imaging Group, Inc., a leading provider of imaging and photofinishing equipment.

The Final Judgment and Order of Dismissal was granted by the United States
District Court in the Northern District of California on February 19, 1999.
Under the terms of the settlement, the plaintiffs have received $4.5 million, of
which Raster Graphics paid $850,000; the remaining $3.65 million has been paid
by the Company's insurance carrier. These sums had been previously placed in an
escrow account pending approval of the settlement.

As reported by the Company’s Form 10-Q For The Quarter Ended September 30, 1998, on October 1998, the Company entered into a Memorandum of Understanding (MoU) with the securities litigation plaintiffs. This MoU contains the essential terms of settlement for the above referenced securities litigation. In consideration for a mutually agreed release, the plaintiffs will receive $4.5 million. Of this amount, the Company has accrued $850,000 as of March 31, 1998, and subsequently paid such amount directly into an escrow account and the balance was paid by the Company's insurance carrier. The settlement is conditioned upon receiving final judicial approval. There can be no assurances such approval will be obtained.

On March 1998, several class action lawsuits were filed in both state and federal courts on purported behalf of shareholders who purchased the Company's stock during various periods in 1997 through early 1998. The complaints allege, among other things, violation of federal securities laws and that defendants made false and misleading statements in press releases, SEC filings and/or other public statements and seek unspecified damages.


Sector: Technology
Industry: Computer Peripherals
Headquarters: United States


Ticker Symbol: RGFX
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: N.D. California
DOCKET #: 98-CV-0807
JUDGE: Hon. Fern M. Smith
DATE FILED: 03/02/1998
CLASS PERIOD END: 02/03/1998
  1. Berman DeValerio Pease Tabacco Burt & Pucillo (CA)
    425 California Street, Suite 2025, Berman DeValerio Pease Tabacco Burt & Pucillo (CA), CA 94104
    415.433.3200 415.433.6382 ·
  2. Goodkind Labaton Rudoff & Sucharow LLP
    100 Park Avenue, Goodkind Labaton Rudoff & Sucharow LLP, NY 10017
    212.907.0700 212.818.0477 ·
  3. Hanzman, Criden, Korge, Chaykin, Ponce & Heise, P.A.
    200 S. Biscayne Blvd., Hanzman, Criden, Korge, Chaykin, Ponce & Heise, P.A., FL 33131
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