SeeBeyond Technology Corporation ("SeeBeyond" or the Company) produces business and system integration software.

The original Complaint charges SeeBeyond and certain of its officers and directors with violations of federal securities laws. Among other things, Plaintiff claims that Defendants' material omissions and the dissemination of materially false and misleading statements regarding SeeBeyond's business prospects, revenue and earnings caused SeeBeyond's stock price to become artificially inflated, inflicting damages on investors. The Complaint alleges that SeeBeyond overstated the demand for its software products and failed to disclose that the Company had improperly recognized certain revenues.

According to the Company’s FORM 10-K for the fiscal year ended December 31, 2004, beginning on July 3, 2002, several purported class action shareholder Complaints were filed in the United States District Court for the Central District of California against the Company and several of its officers and directors. The actions were subsequently consolidated and a consolidated amended Complaint was filed purportedly brought on behalf of purchasers of common stock of SeeBeyond between December 10, 2001 and May 7, 2002. The Complaint generally alleged that Defendants made false statements about SeeBeyond’s operating results and business, while concealing material information. The litigation was settled for $13.1 million, which was paid by the Company’s insurers. The settlement provided for a complete dismissal of all claims against SeeBeyond and the individual Defendants.