Zomax Signs Agreement to Settle Shareholder Class Action Lawsuit
28 4월 2005 - 10:01PM
PR Newswire (US)
Zomax Signs Agreement to Settle Shareholder Class Action Lawsuit
MINNEAPOLIS, MN, April 28, 2005 /PRNewswire-FirstCall/ -- Zomax
Incorporated (NASDAQ:ZOMX), today announced that it has signed an
agreement to settle, without admission of liability, the class
action lawsuit pending against the Company relating to alleged
securities law violations in 2000. The agreement, which is
dependent upon the completion of certain discovery by the
plaintiffs' counsel and final approval by the United States
District Court in Minneapolis, resolves all shareholder class
members' claims against the Company and certain of its former
officers. The agreement calls for $2.25 million to be paid in cash
by the Company's directors' and officers' insurer and the issuance
by the Company of 1.5 million shares of its common stock. "The
settlement of this class action lawsuit will be a positive step in
our efforts to resolve the issues created by the events of 2000,"
said Anthony Angelini, President and CEO of Zomax. "We are pleased
to have a settlement agreement so we can focus our time and efforts
on other important core operating activities of our business." As
earlier announced, the Company recorded charges in the third and
fourth quarters of 2004 related to the 1.5 million shares to be
issued as part of the settlement. The charge associated with these
shares will continue to be adjusted based on the market price of
the Company's stock until final approval of the settlement by the
Court. With respect to comparable claims of the SEC associated with
its investigation into these activities in 2000, the Company's
previously disclosed settlement offer remains under consideration
by the SEC. About Zomax: Zomax helps companies more efficiently
bring their products and content to market worldwide. Zomax'
solutions enhance the process of sourcing, production, and
fulfillment through a modular suite of supply chain services. These
services include "front-end" customer contact and e-commerce
services, material management, CD/DVD production, assembly and
kitting services, JIT physical and electronic fulfillment and
returns management. Founded in 1993, Zomax operates 11 facilities
across the United States, Canada, Mexico and Ireland. The Company's
Common Stock is traded on the NASDAQ Stock Market under the symbol
"ZOMX". For more information on Zomax, visit http://www.zomax.com/
or call (866) 553-9393. DATASOURCE: Zomax Incorporated CONTACT:
Company Contacts, Anthony Angelini, President and CEO,
+1-763-553-9300, or Rob Rueckl, Chief Financial Officer,
+1-763-553-9300, both of Zomax, Inc.; or Investor Contacts, Douglas
Sherk, CEO, or Jennifer Beugelmans, Senior Vice President, both of
EVC Group, Inc., +1-415-896-6820 Web site: http://www.zomax.com/
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