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| 2002 News and Press Releases |
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HEADLINE ARCHIVED:
Shareholder Suit Against Broadvision Dismissed By Federal Court
By: Staff Writer
Business Wire. September 16, 2002
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EXCERPT: BroadVision Inc. (Nasdaq:BVSN), a leading provider of enterprise portal applications, announced today that the United States District Court in Northern California has issued a decision dismissing, with prejudice, the shareholders' securities class action lawsuit pending before that Court. The complaint in the dismissed lawsuit had alleged BroadVision and certain officers of the company had violated federal securities laws by disseminating false and misleading statements concerning the Company's 4th quarter 2000 financial results, the release of its new product, its business and its prospects for 2001 and beyond. "We are very pleased with the Court's decision. We believed all along that the lawsuit was unwarranted, and the Court's decision allows us to focus all of our energy on running our business," said Dr. Pehong Chen, president and CEO.
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