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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony,
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To: StockDung who wrote (31004)4/17/1999 4:13:00 PM
From: StockDung  Read Replies (1) of 122087
 
Coyote Network Systems, Inc. (The Diana Corporation) Securities
Litigation (Civ. No. 97-3186). This is a consolidation of what were originally
nine separate actions brought in the United States District Court for the
Central District of California on behalf of purchasers of the Company's common
stock during a class period that extended from December 6, 1994 through May 2,
1997. On July 23, 1997, the Court entered a stipulation and order consolidating
the nine actions for all purposes. On September 9, 1997, plaintiffs filed a
consolidated amended complaint (the "Consolidated Complaint") asserting claims
against the Company, certain of its present and former directors and officers,
and others under Section 10(b) of the Securities Exchange Act of 1934. The
Consolidated Complaint alleges essentially that the Company and other defendants
were engaged in a scheme to inflate the price of the Company's common stock
during the class period through false and misleading statements and manipulative
transactions. The Consolidated Complaint seeks unspecified damages, but
identifies the significant movement in the Company's stock price during the
putative class period (a swing of more than $115 per share) to imply that the
damages that will be claimed will exceed the Company's assets.
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