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| 2001 News and Press Releases |
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HEADLINE ARCHIVED:
Securities Lawsuit Against REMEC Dismissed
By: David L. Morash
PR Newswire. December 10, 2001
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Excerpt: REMEC, Inc. (Nasdaq: REMC) announced that the United States District Court for the Southern District of California has dismissed with prejudice the securities class action lawsuit filed against it in April 1999. REMEC and certain of its officers and directors, and the investment bankers who served as co-lead underwriters of REMEC's February, 1998 secondary offering, were sued by the law firm of Milberg Weiss Bershad Hynes & Lerach LLP and two of its co-counsel as counsel for Charles Vezzetti et al and all others similarly situated, alleging violations of the Securities Exchange Act of 1934 between December 1, 1997 and June 12, 1998. On October 31, 2001, the Court granted REMEC's motion to dismiss the complaint, but gave the plaintiffs the opportunity to file an amended complaint. Plaintiffs did not amend. On December 7, 2001, at the parties' request, the Court signed an Order dismissing the case in its entirety with prejudice. REMEC did not make or promise to make any payment, direct or indirect, to the plaintiffs or their counsel for the dismissal of the action.
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