Attunity Announces Motion for Summary Judgement Filed; Also Announces Change to Board of Directors.Business Editors WAKEFIELD, Mass.--(BUSINESS WIRE)--Sept. 20, 2002 Attunity Ltd. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : ATTU Attu, island: see Aleutian Islands. - News), a leader in business process, application and data integration solutions for the extended enterprise, today announced that it has been served with legal papers seeking approximately $600,000 in damages under a breach of contract claim. The plaintiffs, Special Situations Fund III L.P., Special Situations Cayman Fund, L.P., Special Situations Private Equity Fund, L.P. and Special Situations Technology Fund, L.P., major investors in the company, claim that the company breached its obligation to register by December 31, 2001 the securities they purchased from the company in a late October 2001 private placement. Such securities were subsequently registered for resale by means a registration statement filed with the U.S. Securities and Exchange Commission. The company believes that it has good and valid defenses to the claim and intends vigorously defend itself. Attunity also announced that Stephen J. Kohn has resigned from his position on Attunity's board of directors, effective Thursday September 19, 2002. Attunity wishes to express its appreciation for the many years of insight, guidance and the contributions made by Mr. Kohn during the years in which he served as a director of the company. About Attunity Ltd. Attunity(TM) is a leading provider of eBusiness solutions that deliver dynamic business process, application and data integration within and across enterprises. Attunity gives organizations the power to leverage their IT investments by automating and managing business processes within the enterprise and with partners, suppliers and customers over the Internet. The company's portfolio of software and services work in concert. Its eBusiness Integration Suite utilizes the standards-based technologies of Attunity Connect(TM) and Attunity BPI (Bits Per Inch) The measurement of the number of bits stored in one linear inch of a track (storage channel) on a disk or tape. Bit density on magnetic disks has reached 800,000 bpi (800 Kbpi). See tpi, areal density and magnetic disk. BPI - bits per inch (TM) to insure rapid ROI (Return On Investment) The monetary benefits derived from having spent money on developing or revising a system. In the IT world, there are more ways to compute ROI than Carter has liver pills (and for those of you who never heard of that expression, it means a lot). while maintaining business agility for the future. Attunity delivers production-proven software and services to more than 1,000 companies worldwide and has strategic alliances with Oracle, Compaq, and other world-class partners. Attunity products are available through direct sales and support offices in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Israel, the United Kingdom, France, the People's Republic People's Republic n. A political organization founded and controlled by a national Communist party. of China, and Australia, as well as distributors in Japan, S.E. Asia, Europe and Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. . For more information, visit www.attunity.com or send email to info@attunity.com. Copyright (c) 2002 Attunity Ltd. All rights reserved. Attunity, the Attunity logo, Application Adapter A layer of software that converts the data from the application into a common form acceptable for integration with other applications. See application integration and integration server. Framework, Attunity AAF AAF abbr. Army Air Forces , Attunity Connect and Web Services (1) Loosely, any online service delivered over the Web. Such usage appears in articles from non-technical sources, but not in IT-oriented publications, because definition #2 below describes the correct use of the term. Process Integration are trademarks of Attunity Ltd. All other marks are the property of their respective owners. (Except for the historical information contained herein, the matters discussed in this news release include forward-looking statements that may involve a number of risks and uncertainties. Actual results may vary significantly based upon a number of factors, including but not limited to risks and product technology development, market acceptance of the products and continuing product demand, the impact of competitive products and pricing, changing economic conditions, both here and abroad, release and sales of new products by strategic resellers and customers, and other risk factors detailed in the company's most recent annual report and other filings with the Securities and Exchange Commission.) |
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