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Technology Stocks : PictureTel (PCTL) -- Ignore unavailable to you. Want to Upgrade?

To: margin_man who wrote (728)	4/9/1998 10:11:00 PM
From: StormRider	Read Replies (1) \| Respond to of 920

EXCELLENT NEWS!!!! Thanks for the heads up! Here it is: PictureTel Wins Patent-Infringement Lawsuit Brought By Datapoint Corporation Jury Also Finds Patent Claims Of Datapoint To Be Invalid ANDOVER, Mass. and DALLAS, April 9 /PRNewswire/ -- Today, after a month- long trial, a 10-member jury unanimously agreed that PictureTel Corporation (Nasdaq: PCTL - news) did not infringe any patent claims of Datapoint Corporation (NYSE: DPT - news), in a suit filed by Datapoint against PictureTel. In addition, the jury unanimously agreed that the patent claims asserted against PictureTel were invalid. Datapoint had sought upwards of $200 million in its claim against PictureTel, which the jury denied in total. Datapoint has the right to appeal the decision, as a matter of course. biz.yahoo.com ******************************************************** This then, of course, negates this lawsuit: ****************************************************** Class Action Commenced by Kaufman Malchman Kirby & Squire, LLP. NEW YORK--(BUSINESS WIRE)--April 3, 1998--YOU ARE HEREBY NOTIFIED that on March 20, 1998 Kaufman Malchman Kirby & Squire, LLP filed a class action lawsuit against Picturetel Corporation (''Picturetel'') (NASDAQ: PCTL - news) and certain of its officers and directors. The proposed class comprises purchasers of Picturetel common stock between September 16, 1996 and November 19, 1997, inclusive (the ''Class Period''). The lawsuit was filed in the United States District Court for the District of Massachusetts. The complaint asserts that defendants violated section 10(b) of the Securities Exchange Act of 1934 and SEC rule 10b-5, and alleges that defendants' SEC filings and public statements misrepresented the materiality of a lawsuit that Datapoint Corporation [NYSE:DPT - news] had commenced against Picturetel for patent infringement. At the end of the Class Period, Picturetel admitted publicly that the outcome of the patent infringement lawsuit could have a material adverse impact upon the company. In prior statements, defendants had contended that the lawsuit was unlikely to have a material adverse upon its business or operations, and, during this period, Picturetel insiders sold millions of dollars of their personal Picturetel holdings. ************************************************************ This just made my weekend!!! Looking forward to Monday!!! :-))))