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Technology Stocks : American Power Conversion -- Ignore unavailable to you. Want to Upgrade?

To: Ray Cote who wrote (2018)	5/26/1998 12:16:00 PM
From: JimieA	Read Replies (3) \| Respond to of 2574

American Power Conversion Settles Pending Securities And Derivative Action Litigation WEST KINGSTON, R.I., Feb. 26 /PRNewswire/ -- American Power Conversion Corporation (Nasdaq: APCC - news) today announced that agreements-in-principle have been reached to settle pending securities and derivative action litigation. ''While APC and its officers and directors continue to believe that the suits are without merit, settlement at this stage is clearly in the Company's best interests,'' said Rodger B. Dowdell, Jr., APC's president and CEO. ''We are pleased to dispose of these actions now, enabling us to eliminate the distraction associated with this litigation.'' Under the terms of the tentative settlements, both the federal class action litigation and the state derivative litigation will be settled. The entire settlement amount is being borne by the liability insurance carrier which insures the Company, its directors and its officers. The tentative settlements in each case are subject to certain conditions including court approval.