Monday, October 04, 2004
Black Box Corporation Announces Final Court Approval of Settlement in Securities Class Action Litigation
Black Box Corporation (NASDAQ:BBOX) today announced that the United States District Court for the Western District of Pennsylvania entered a final order approving the settlement of the case captioned In Re Black Box Corporation Securities Litigation (Civil Action No. 03-CV-412). The settlement provides for the payment of $2 million into a settlement fund in exchange for a dismissal of the action with prejudice and a full and complete release of any and all claims against defendants. The Company’s directors’ and officers’ liability policy covered $1.5 million of the settlement payment, with the remaining $500,000 being paid by the Company. There having been no objections to the terms of the settlement filed with the Court, the final order will become non-appealable on October 12, 2004.
Black Box is the world’s largest technical services company dedicated to designing, building, and maintaining today’s complicated network infrastructure systems. Black Box services clients of all sizes in 141 countries throughout the world.
Black Box Corporation