Terayon - S CDMA player (TERN) Message Board

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Technology Stocks : Terayon - S CDMA player (TERN)

TERN 28.14

-2.1%

Nov 28 12:59 PM EST

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To: Pluvia who wrote (1646)	3/24/2006 5:48:48 PM
From: Pluvia	Read Replies (1) of 1658

GOOD MORNING ZAKI - HOW'S MY FIST? Thx for the $15mm ya yellah-necked lil bitch. i remain, sincerely yer eff'n daddy latimes.com *************** Terayon Settles Shareholder Suit for $15M Wednesday March 22, 5:33 pm ET Terayon Communication Systems Also Pays $65.6 Million to Retire Bond SANTA CLARA, Calif. (AP) -- Broadband services provider Terayon Communication Systems Inc. on Wednesday agreed to pay $15 million to settle a shareholder class action suit from 2000, saying it would cost more to continue contesting the six-year-old suit. ADVERTISEMENT Separately, the Santa Clara, Calif.-based company repaid in full its $65.6 million of 5 percent convertible notes due in 2007. Terayon was forced to repay the bond after the company defaulted because it missed the filing deadline for its third-quarter earnings report. Terayon delayed the filing after saying three weeks ago that it will restate earnings from 2004 and the first half of 2005 because an internal audit found some revenue wasn't booked properly. The class action suit was filed by shareholders in April 2000 in the U.S. District Court, Northern District of California, and alleged Terayon made false and misleading statements in violation of securities laws. The proposed settlement, which would dismiss the suit with prejudice, must be approved by the court. Terayon expects to pay $2.3 million of the payment; insurers would pay the balance. Terayon's shares closed Wednesday down a penny at $1.88 on the Nasdaq before adding 23 cents or 12.2 percent to $2.11 in after-hours electronic trading. The stock has traded between $1.63 and $4.10 over the past year.

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