Telos (TLSRP) preferred Message Board

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Microcap & Penny Stocks : Telos (TLSRP) preferred

TLSRP 41.10

+0.2%

Nov 23 4:00 PM EST

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From: leigh aulper	12/22/2005 2:46:45 PM
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starting to look serious 8 k just filed Item 8.01 Other Events. On December 22, 2005, the Registrant’s Board of Directors established a Special Litigation Committee comprised of independent directors to review and evaluate the matters raised in the derivative suit filed against the Registrant by Costa Brava Partnership III, L.P. relating to the Registrant’s 12% Cumulative Exchangeable Redeemable Preferred Stock. The Special Litigation Committee will investigate, review, and analyze the allegations made in the derivative suit with respect to certain of the Registrant’s directors and officers, and make a determination for the Registrant as to what action the Registrant should take in connection with those matters, including whether or not to institute litigation against those directors and officers. The members of the Special Litigation Committee are Thomas L. Owsley and Bruce J. Stewart

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