Black Box Corporation Announces Final Court Approval of Settlement in Securities Class Action Litigation.PITTSBURGH Pittsburgh (pĭts`bərg), city (1990 pop. 369,879), seat of Allegheny co., SW Pa., at the confluence of the Allegheny and the Monongahela rivers, which there form the Ohio River; inc. 1816. -- Black Box Corporation (Nasdaq:BBOX) today announced that the United States District Court for the Western District of Pennsylvania The United States District Court for the Western District of Pennsylvania sits in Pittsburgh, Erie, and Johnstown, Pennsylvania. It is composed of ten judges as authorized by federal law. Chief Judge Donetta W. Ambrose presides. entered a final order approving the settlement of the case captioned In Re Black Box Corporation Securities 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. (Civil Action No. 03-CV-412). The settlement provides for the payment of $2 million into a settlement fund in exchange for a dismissal A discharge of an individual or corporation from employment. The disposition of a civil or criminal proceeding or a claim or charge made therein by a court order without a trial or prior to its completion which, in effect, is a denial of the relief sought by the commencement of the of the action with prejudice and a full and complete release of any and all claims against defendants. The Company's directors' and officers' liability policy covered $1.5 million of the settlement payment, with the remaining $500,000 being paid by the Company. There having been no objections to the terms of the settlement filed with the Court, the final order will become non-appealable on October October: see month. 12, 2004. Black Box is the world's largest technical services company dedicated to designing, building and maintaining today's complicated network infrastructure systems. Black Box services clients through 117 offices in 141 countries throughout the world. Black Box and the diamond logo are registered trademarks of BB Technologies, Inc. |
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