HUDSON, Mass., March 4 /PRNewswire/ -- ACT Manufacturing, Inc.
(Nasdaq: ACTM) today announced that is has been named as a defendant in a
securities class action lawsuit filed in the United State District Court for
the District of Massachusetts purportedly on behalf of purchasers of the
Company's common stock during the period October 1, 1997 to February 25, 1998.
The complaint also names as defendants certain of the Company's directors and
officers. The complaint alleges, among other things, that the defendants
knowingly made misstatements to the investing public about the Company's
inventory and the accuracy of its accounting practices.
The Company believes the allegations in the complaint are without merit
and intends to vigorously contest them.
ACT Manufacturing, Inc., headquartered in Hudson, Massachusetts, provides
value added electronics manufacturing services for original equipment
manufacturers ("OEMs") in the networking, computer, telecommunications,
industrial and medical equipment markets. The Company provides OEMs with
complex printed circuit board ("PCB") assembly primarily utilizing advanced
surface mount technology ("SMT"), mechanical and molded cable and harness
assembly, electro-mechanical sub-assembly, and total system assembly and
integration.
This Press Release contains forward-looking statements which are made
pursuant to the safe harbor provisions of The Private Securities Litigation
Reform Act of 1995. The Company's periodic reports filed with the Securities
and Exchange Commission, including the Company's annual report on Form 10-K
for the period ending December 31, 1996 and quarterly reports on Form 10-Q for
the first, second and third quarters of 1997 detail some important risk
factors that could cause actual results to differ materially from any
forward-looking statements.
SOURCE ACT Manufacturing, Inc.
/CONTACT: Douglass C. Greenlaw of ACT Manufacturing,
978-562-8046/ (ACTM) |
