Acrodyne Communications, Inc. Announces Lead and Liaison Plaintiffs' Counsel Have Been Approved.Business Editors COCKEYSVILLE, Md.--(BUSINESS WIRE)--Nov. 13, 2000 Acrodyne Communications, Inc. (Nasdaq: ACROE) today announced that lead and liaison Plaintiffs' counsel have been approved by the United States District Court United States District Court In the U.S., any of the 94 trial courts of general jurisdiction in the federal judicial system. Each state, as well as the District of Columbia and the Commonwealth of Puerto Rico, has at least one federal district court. judge presiding pre·side intr.v. pre·sid·ed, pre·sid·ing, pre·sides 1. To hold the position of authority; act as chairperson or president. 2. To possess or exercise authority or control. 3. over the consolidated class action lawsuits class action lawsuit A lawsuit in which one party or a limited number of parties sue on behalf of a larger group to which the parties belong. For example, investors may bring a class action lawsuit against a brokerage firm that has actively promoted a tax alleging violations of federal securities laws against the Company. Additionally, the Plaintiffs were given until January 31, 2001 to file an Amended Complaint amended complaint n. what results when the party suing (plaintiff or petitioner) changes the complaint he/she has filed. It must be in writing, and can be done before the complaint is served on any defendant, by agreement between the parties (usually their lawyers), . The Court also agreed to a joint request by Plaintiffs' counsel and counsel representing the Company to the appointment of a magistrate judge preside pre·side intr.v. pre·sid·ed, pre·sid·ing, pre·sides 1. To hold the position of authority; act as chairperson or president. 2. To possess or exercise authority or control. 3. over settlement discussions. Commenting on the Court's actions, Nat Ostroff said, "This presents the best opportunity for Acrodyne to resolve the shareholder suits in a timely and equitable manner. Unless an acceptable resolution to the current litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. is reached quickly, the Company's ability to continue operations may be in question. This press release includes forward-looking statements based on the Company's current expectations and projections about future events. These forward-looking statements are subject to a number of risks, uncertainties and assumptions about the Company that could cause actual results to differ materially from those in such forward-looking statements. Potential risks and uncertainties include, but are not limited to, the results of the continuing review of the Company's financial records and such other risk factors as are described in the Company's past press releases and filings with the Securities and Exchange Commission. The Company undertakes no obligation to update the forward-looking statements contained in this press release. |
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