U.S. District Court Rejects Motion Barring TTR Technologies, Inc. From Holding Annual Meeting of Stockholders Today
NEW YORK--(BUSINESS WIRE)--Aug. 26, 2002--TTR TECHNOLOGIES, INC., (Nasdaq NM: TTRE) announced that on August 22, 2002, Judge Laura Swain of the United States District Court rejected a motion for a temporary restraining order to bar the convening of the Company's Annual Meeting of Stockholders, scheduled for today, August 26, 2002.
The motion was made as part of a lawsuit by several alleged shareholders of the Company alleging, among other things, material misstatements and omissions in the proxy statement that was circulated in connection with the scheduled Annual Meeting of the Stockholders, as well as various state law violations.
On the following day, Judge Miriam Cedarbaum of the same court likewise declined to enjoin the annual meeting, and instead, scheduled a trail date of October 8, 2002 for the action.
About TTR Technologies, Inc.
TTR (http://www.ttrtech.com) designs, markets and sells proprietary anti-piracy products. The company has developed and commercialized products for the software and entertainment industries and is expanding its product range and reach through in-house development and joint ventures. In addition to developing SAFEAUDIO(TM), TTR is investing in Digital Rights Management Protection technologies as well as security solutions for the DVD-ROM market. TTR has a joint development and marketing agreement for music CD copy protection with Macrovision Corporation (Nasdaq:MVSN). TTR's shares are listed on the Nasdaq National Market (TTRE).
Forward-Looking Statements
All statements contained herein, as well as oral statements that may be made by the Company or by officers, directors or employees of the Company acting on the Company's behalf, that are not statements of historical fact, constitute "forward-looking statements" and are made pursuant to the Safe-Harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause the actual results of the Company to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. Such risks and uncertainties are outlined in the Company's Annual Report on Form 10-K for 2000, its Quarterly Reports on Form-10Q, and such other documents as are filed with the Securities and Exchange Commission from time to time. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
CONTACT:
TTR Technologies, Inc.
Samuel Brill, 212/527-7599
samb@ttrtech.com
or
Stern & Co.
Investor Relations:
Truc Nguyen, 212/888-0044
tnguyen@sternco.com
Media:
Stan Froelich, 212/888-0044
sfroelich@sternco.com
SOURCE: TTR Technologies, Inc.
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08/26/2002 09:23 EASTERN |
