SCRIPT SYSTEMS ANNOUNCES ACTION BY STOCKHOLDER GROUP
SCRIPT SYSTEMS ANNOUNCES ACTION BY STOCKHOLDER GROUP HACKENSACK, N.J., Nov. 27 /PRNewswire/ -- Script Systems, Inc.
(NASDAQ: SCPT), today announced that an action has been started in the Superior Court of New Jersey by a stockholder group seeking to set aside the issuance of a series of preferred stocks with enhanced voting rights on Nov. 21, 1991. The plaintiffs are also seeking to adjourn the meeting of the shareholders scheduled for Dec. 19, 1991, and to require that the record date for the annual meeting of the shareholders be the date of the earlier canceled meeting, Oct. 7, 1991, so that the holders of the preferred shares would not be able to vote. Other relief is also sought by the plaintiffs.
In addition to the company and its directors, O'Donnell Davis Management, Inc., the purchaser of the preferred stock, is a defendant in the case. Script and O'Donnell expect to vigorously defend the action. -0- 11/27/91 /CONTACT: Barry Mindes of Script Systems, 201-343-8500; or Sam Witchel of Scharff, Witchel & Co., 212-983-1060, for Script/ (SCPT) CO: Script Systems, Inc. ST: New Jersey IN: SU:
JT-GK -- NY040 -- 7797 11/27/91 14:28 EST
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|Date:||Nov 27, 1991|
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