AVT Corporation to Vigorously Defend Class-Action Lawsuit.Business Editors KIRKLAND, Wash.--(BUSINESS WIRE)--March 23, 2000 On March 21, 2000, a lawsuit was filed in the United States District Court for the Western District of Washington The United States District Court for the Western District of Washington is the Federal district court whose jurisdiction comprises the following counties: Clallam, Clark, Cowlitz, Grays Harbor, Island, Jefferson, King, Kitsap, Lewis, Mason, Pacific, Pierce, San Juan, Skagit, alleging that during the period January 20, 2000 through March 17, 2000, AVT AVT avian arginine vasotocin. See vasotocin. Corporation (Nasdaq:AVTC AVTC Antivirus Test Center (informatics, University of Hamburg) AVTC Automatic Vehicular Traffic Control ) and several officers and directors made or participated in misrepresentations about the Company's business and future prospects. The lawsuit seeks unspecified damages on behalf of a proposed class of purchasers of the Company's stock during that period. The Company believes that the allegations of the lawsuit are without merit and intends to vigorously defend this action. AVT Corporation is the leading provider of business-to-business communications solutions, helping organizations control and meet the high demands of their communications workflow. The company specializes in developing and marketing its CallXpress unified messaging Having access to e-mail, voice mail and faxes via a common computer application or by telephone. For example, unified messaging may send faxes and digitized voice mail to a mail server that turns them into e-mail attachments. solution, its RightFAX and CommercePath fax and communications servers, and its MediaLinq electronic document delivery services. AVT has over 65,000 systems installed worldwide, with 80 percent of the Fortune 100 using the company's award winning products and services. AVT is headquartered in Kirkland, WA and has main offices in Tucson, AZ, Portland, OR, and San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden , CA. In addition, AVT has sales and support offices in the United Kingdom, Germany, Hong Kong, Dubai, and Tokyo. Founded in 1982, AVT is publicly traded under the symbol "AVTC" on the NASDAQ National Market. AVT maintains a site on the World Wide Web at www.avtc.com. This press release contains forward-looking statements within the meaning 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. These forward-looking statements involve risks and uncertainties, including technical and competitive factors, which could cause the Company's results and the timing of certain events to differ materially from those discussed in the forward-looking statements. Such risks are detailed in AVT's latest Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. filed with the Securities and Exchange Commission. NOTE TO EDITORS: News releases are available from AVT's Newsroom fax server. Call 425/820-4089 and follow the prompts. This is document number 77139. News releases can also be found on AVT's World Wide Web site at www.AVTC.com. |
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