Datron Rejects Unfounded Charges in KVH Lawsuit.Business Editors VISTA, Calif.--(BUSINESS WIRE)--Feb. 22, 2000 Datron Systems Inc. (Nasdaq:DTSI DTSI Defense Trade Security Initiative DTSI Digital Twin Spark Ignition DTSI Datron/Transco Systems Incorporated DTSI DataTel Solutions, Inc. (San Antonio, Texas) ) today announced it has been advised that a lawsuit has reportedly been filed against its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Datron/Transco Inc., by a competitor in the mobile satellite communications market. The lawsuit, apparently filed by KVH Industries KVH Industries Incorporated is an electronics firm based in Middletown, Rhode Island. The company produces electronic compasses, fiber optic gyroscopes, and control systems for satellite dishes. External Links
David A. Derby, chairman, president and chief executive officer, stated, "To date, Datron has not been served with this lawsuit; however, we have received a 'courtesy' copy of the complaint from the plaintiff's attorneys. It is regrettable that a full eight days have passed since KVH KVH Keith Van Horn (basketball player) KvH Katrina vanden Heuvel (editor; The Nation) twice announced its baseless charges in the press. We have to question the motives of a competitor who apparently is more concerned with a press announcement than with pursuing the legal merits of its case. Nevertheless, we can assure our stockholders, customers and other stakeholders that we will aggressively defend the company against the plaintiff's unfounded charges." This news release may contain "forward-looking statements" as defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. A variety of factors could cause the Company's actual results to differ from the anticipated results expressed in such forward-looking statements. These include, among others, uncertainties stemming from the dependence of the Company on foreign sales and on large orders from a relatively small number of customers, risks relating to the decline in the company's traditional defense business and the company's efforts to develop and market consumer products, lack of timely development or customer acceptance of new products, changes in products and services offered by satellite service providers and their related suppliers and the ability of the company to negotiate satisfactory business relationships with those providers and suppliers, worldwide economic downturns and currency devaluations, restrictions imposed by the U.S. government on the export of company products, and the impact of competition. Investors are referred to the company's periodic reports under the Securities Exchange Act of 1934, including without limitation the Investment Considerations set forth in the company's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. . Datron Systems provides products and services addressing the needs of emerging satellite and radio communication markets. |
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