AHT Corporation Reaches Agreement to Settle Shareholder Class Action.Business Editors TARRYTOWN, NY--(BUSINESS WIRE)--January 27, 2000 AHT AHT Animal Health Trust (Suffolk, England) AHT American Hairless Terrier (dog breed) AHT After Hours Trading AHT Animal Health Technician AHT Anchor Handling Tug Corporation (Nasdaq: AHTC AHTC Akademischer Hockey Und Tennis Club ) announced today that it has reached an agreement to settle the consolidated shareholder class action filed against the Company in the U.S. District Court for the Southern District of New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . Under the agreement, AHT would issue 886,437 shares of its Common Stock to the class members. The Company will also deposit $300,000 in escrow escrow Instrument, such as a deed, money, or property, that constitutes evidence of obligations between two or more parties and is held by a third party. It is delivered by the third party only upon fulfillment of some condition. to cover the costs of notice to the class, administration of the settlement and plaintiff attorneys' expenses. The consolidated class action, which resulted from eleven putative Alleged; supposed; reputed. A putative father is the individual who is alleged to be the father of an illegitimate child. A putative marriage is one that has been contracted in Good Faith and pursuant to ignorance, by one or both parties, that certain class actions filed against AHT from July 1 through August 17, 1998 following a decline in the Company's stock price, alleges that the Company had made certain misrepresentations and omissions regarding its operations, performance and financial condition. The proposed settlement provides for dismissal of the pending class action without any admission of wrongdoing wrong·do·er n. One who does wrong, especially morally or ethically. wrong  do on the part of the Company. The proposed settlement is subject to the District Court's approval. Class members will receive Court-approved notification shortly regarding the proposed settlement. AHT Corporation (Nasdaq: AHTC) is a leading national provider of Internet-based healthcare e-commerce among physicians, other healthcare providers and healthcare organizations. The Company provides information technology enabling the electronic management of laboratory and prescription transactions. AHT's customer base is comprised of some of the nation's leading hospital systems, national and regional laboratories, pharmacy benefit managers and pharmacies. For more information, please visit AHT's web site at www.ahtech.com. This press release contains forward-looking information regarding AHT Corporation. The forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Forward-looking statements, including statements as to industry trends, future economic performance, anticipated profitability, anticipated revenues and expenses, anticipated transactions, legal actions, planned product development, and products or service line growth may be significantly impacted by certain risks and uncertainties, including, but not limited to, failure of the clinical e-commerce industry to develop at anticipated rates, failure of the Company's clinical information technology products and services and planned products to gain significant market acceptance ,customer delay in installing new systems because of their Y2K-related issues, delays in customer acceptance of AHT software, competition and other economic factors. There can be no guarantee that the Court will approve the settlement. These forward-looking statements speak only as of the date hereof, and the Company disclaims any intention or obligations to update these forward-looking statements in the future. Additional risks and uncertainties are described in AHT's public filings with the Securities and Exchange Commission. |
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