Shiva Corporation Settles Shareholder Lawsuits Filed In 1997
BEDFORD, Mass., Jan. 11 /PRNewswire/ -- Shiva Corporation (Nasdaq: SHVA) today announced that on January 6, 1999, it agreed to settle certain securities law actions pending against the company in California, and against the company and certain officers and directors in Massachusetts. The settlement is contingent upon final approval by the United States District Court for the District of Massachusetts.
The cases involved are Schwartz, et al. v. Shiva Corporation, Los Angeles Superior Court Case Number BC 164278 and In re Shiva Corporation Securities Litigation, United States District Court for the District of Massachusetts Civil Action Number 97-11159-WGY. The settlement amount is $4.35 million, a portion of which will be paid by Shiva's insurer. |
