Cambridge Technology Partners Announces Dismissal of Lawsuit Filed Related to 1998 Acquisition of Excell Data Corporation
CAMBRIDGE, Mass.--(BUSINESS WIRE)--March 3, 2000--Cambridge Technology Partners (Massachusetts), Inc. (NASDAQ:CATP) (Cambridge), a global e-business solutions provider, today announced that the United States District Court for the District of Massachusetts granted summary judgment dismissing in its entirety a lawsuit brought in connection with Cambridge's 1998 acquisition of Excell Data Corporation. The litigation was brought by certain former shareholders of Excell who received shares of Cambridge stock and made certain allegations concerning violations of the federal securities laws, as well as state law.
Cambridge's CEO Jack Messman stated, "We are extremely pleased with the decision by the federal court in Boston. Throughout the course of the litigation, Cambridge steadfastly maintained that the lawsuit lacked merit. The Court's decision today justifies our vigorous defense of these claims and affirms our conduct associated with this transaction."
About Cambridge Technology Partners
Cambridge Technology Partners is a global e-solutions provider. Working in collaboration with Global 1000, high-velocity middle market companies and .com start-ups, Cambridge combines a deep understanding of New Economy issues with integrated, end-to-end services and a proven track record of shared risk and rapid, guaranteed delivery. Cambridge generated $612 million in 1998 and has more than 4,500 employees and 55 offices worldwide. Cambridge on the Web: ctp.com.
CONTACT:
Cambridge Technology Partners
Donna L. LaVoie, 1-617-914-8073
dlavoi02@ctp.com
or
Cambridge Technology Partners
Claire Murphy, 1-617-914-8862
cmurph@ctp.com |
