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Technology Stocks : VALENCE TECHNOLOGY (VLNC)
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To: Pallisard who wrote (18250)2/11/2000 1:39:00 PM
From: rich evans  Read Replies (3) of 27311
 
Pallisard, the law suit was not discussed except to say that it was settled and brought under the old law which is very significant. The reform act of 1996 requires facts which create a strong inference of fraud before a lawsuit can proceed. This lawsuit did not require that and therefore settlement was in VLNC's best interest to get rid of it. It looks like insurance will only pay the cash portion based on news release but that is not entirely clear.
Rich
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