GTTIF - What's the latest news on Grandetel?? Message Board

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Technology Stocks : GTTIF - What's the latest news on Grandetel??

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To: Guy who wrote (27)	10/31/1997 3:49:00 PM
From: Albert Shilin	Read Replies (1) of 58

Think about it. If the management knows that they still have to face bankruptcy, they would not settle the other lawsuits. Read the following about the California Lawsuits: Kayne v. MTC Electronic Technologies Co., Ltd. et al., a lawsuit commenced in the United States District Court for the Central District of California was filed on or about January 23, 1995 by a number of former shareholders of the Company. Plaintiffs served a first amended complaint on or about August 29, 1995, claiming violations of the Exchange Act and Rules, the California Corporations Code, RICO, fraud and negligent misrepresentation on the part of the Company and certain of its former officers and directors and breach of fiduciary duty on the part of certain of its former officers and directors. The allegations duplicate in large part the allegations contained in the class action litigation to which the Company and its former officers and directors are parties in New York. The Judicial Panel on Multi-District Litigation has consolidated this lawsuit with the class action litigation for pre-trial purposes. The trial date has been tentatively set in early 1998. Albert

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