GTIS - Will it be a Phoenix or not ? Message Board

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Technology Stocks : GTIS - Will it be a Phoenix or not ?

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To: Bill Gizzo who wrote (1383)	1/13/1998 11:55:00 AM
From: Bill Gizzo	Read Replies (1) of 2319

From Gameaddict.com news GT Shrugs Aside Law Suit Industry: GT Interactive has shrugged aside the impending stockholder lawsuit, stating that as far as it's concerned audits were carried out above board. "I can't discuss details but we believe it's entirely without merit and we intend to defend ourselves vigorously," explained GT's Alleyne Mills. GT stockholders had filed a class action suit against the company that alleges improper accounting. The stockholders involved had all purchased stock between August 1st '96 and December 12th '97, and claim that GT inflated the worth of its shares by giving an inaccurately optimistic financial report. As with most legal cases, this could drag out. In other news, GT has announced it is to launch N64 Baseball title Mike Piazza's StrikeZone in Spring '98, which will be competing with Acclaim's All-Star Baseball '98 and MLB Presents Ken Griffey, Jr. Cheers Bill

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