WFI Announces Dismissal of Shareholder Class Action Lawsuit
Tuesday March 14, 4:05 pm ET
Plaintiffs Have 45 Days to Amend Complaint
SAN DIEGO, March 14 /PRNewswire-FirstCall/ -- WFI (Nasdaq: WFII - News), a global leader in the design, deployment, and management of wireless communication networks, technology networks and security systems, announced today that the United States District Court for the Southern District of California has dismissed, with leave to amend, claims against the Company and certain officers and directors in the consolidated shareholder class action lawsuits filed starting in August, 2004. The suits are related to a class period from May 5, 2003 through August 4, 2004. WFI's motion to dismiss the second amended consolidated class action complaint was granted and the action was dismissed by the order of the Honorable John A. Houston, United States District Judge for the Southern District of California. The court gave the plaintiffs 45 days to amend their complaint.
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"WFI is extremely pleased with the decision of the court," said Eric Demarco, President and CEO of WFI. "We have always believed that the plaintiff's case lacked merit, and we look forward to putting this issue behind us and moving forward with our business efforts." |
