Presstek, Inc. is a manufacturer of printing machinery and equipment.

According to a press release dated October 13, 2006, the Company, together with certain of its executive officers, have been named as Defendants in a purported securities class action suit. The Complaint alleges, among other things, that the Company and the other Defendants violated Sections 10(b) and 20(a) of the Exchange Act and Rule 10b-5 promulgated thereunder.

Plaintiffs filed a motion for consolidation and the appointment lead Plaintiff and lead Counsel on December 21, 2006. The next day the Defendants filed motions to dismiss the unconsolidated Complaint. Before a ruling on the dismissal motion, Plaintiffs filed an Amended Complaint on February 1, 2007. Lead counsel was appointed February 21, 2007 and Defendants filed a renewed motion for dismissal on March 1, 2007. The motion was denied on September 18, 2007.

Plaintiffs moved to certify the class on January 28, 2008. The motion was denied without prejudice on September 18, 2008.

Motion for preliminary approval of settlement was filed on March 11, 2009. The agreement includes a cash payment of $1,250,000 in exchange for dismissal of claims against the Defendants. Counsel is seeking 1/3 of the settlement fund in attorneys' fees, and reimbursement of $30,000 in expenses.