BroadVision, Inc. Announces Dismissal of Shareholder Class Action Lawsuits.REDWOOD CITY Redwood City, city (1990 pop. 66,072), seat of San Mateo co., W Calif., on San Francisco Bay; inc. 1868. Manufactures include commmunications, electrical, electronic, and medical equipment. , Calif. -- BroadVision, Inc. (Nasdaq:BVSN BVSN Broadvision, Inc. (stock abbreviation, AMEX) ) announced today that the plaintiffs in all four pending shareholder class action complaints against the Company and its directors have agreed to dismiss their complaints without prejudice Without any loss or waiver of rights or privileges. When a lawsuit is dismissed, the court may enter a judgment against the plaintiff with or without prejudice. When a lawsuit is dismissed without prejudice . The court approved the dismissals on Friday, December 9, 2005. All four complaints related to the previously announced merger agreement with Vector Capital, which was terminated in November. No payments of any kind were made or will be made by the Company or its directors to obtain the dismissal of the four complaints. "We are pleased that each of the plaintiffs has agreed to dismiss the complaints, and that we are now able to redirect our resources to more productive activities," said Pehong Chen, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of BroadVision. About BroadVision BroadVision (Nasdaq:BVSN) is a global provider of web self-service solutions. Our agile commerce and portal applications enable customers to quickly create and adapt online processes to keep pace with changing business requirements. Over 1,000 organizations, serving nearly 75 million registered users, rely on BroadVision's open solutions to power and personalize per·son·al·ize tr.v. per·son·al·ized, per·son·al·iz·ing, per·son·al·iz·es 1. To take (a general remark or characterization) in a personal manner. 2. To attribute human or personal qualities to; personify. their mission-critical web initiatives. Additional information about BroadVision can be obtained at www.broadvision.com. |
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