Critical Path Announces Financing Transaction Funds Released From Escrow.Business Editors SAN FRANCISCO--(BUSINESS WIRE)--Dec. 21, 2001 Critical Path, Inc., (Nasdaq:CPTH) a global leader in integrated communications solutions, today announced that a stipulation An agreement between attorneys that concerns business before a court and is designed to simplify or shorten litigation and save costs. During the course of a civil lawsuit, criminal proceeding, or any other type of litigation, the opposing attorneys may come to an agreement of settlement in connection with the shareholder 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. pending against the Company and several of its former officers and directors has been executed by all parties to the litigation. As a result, all funds from the financing transaction announced on November 9, 2001, including the Critical Path convertible notes, have been released from escrow. The release of funds was subject to the completion of the stipulation of settlement, among other previously satisfied conditions. The Company previously announced that it had signed memoranda of understanding in the litigation, which were subject to negotiation and execution of the settlement documents, notice to class members and shareholders, and review and approval by the court. About Critical Path, Inc. Critical Path, Inc. (Nasdaq:CPTH) is a global leader in communication technology and complete messaging solutions for wireless and wireline carriers, service providers and corporations through its integrated platform of messaging applications and directory infrastructure. Critical Path is headquartered in 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 , with offices throughout North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , Europe, Asia 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. . More information on Critical Path can be found at http://www.cp.net./. |
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