|  | | 2008 News and Press Releases | | |
SETTLEMENT NEWS:
TERAYON COMMS: "Mongeli" Securities Suit Settled for $2.73 Mln.
Staff Writer
Class Action Reporter. April 30, 2008
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EXCERPT: Terayon Communication Systems, Inc., has settled for $2,730,000 a securities suit against it. The putative class action was filed on June 23, 2006, against the Company with the U.S. District Court for the Northern District of California by I.B.L. Investments Ltd. purportedly on behalf of all persons who purchased the Company's common stock between Oct. 28, 2004, and March 1, 2006. The amended complaint incorporated the prior allegations and includes new allegations relating to the restatement of the Company's consolidated historical financial statements as reported in the Company's Form 10-K filed on Dec. 29, 2006. The plaintiffs sought damages, interest, costs and any other relief deemed proper by the court. |
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