CLASS ACTION LAWSUIT FILED AGAINST DIGITRAN SYSTEMS, INC.
LOGAN, Utah, Aug. 19 /PRNewswire/ -- Digitran Systems Incorporated (AMEX: DGT), operating through its wholly owned subsidiary, Digitran, Inc., announced today that a class action lawsuit has been filed against it and its principal officers and directors in the United States District Court for the District of Utah, Central Division. Lorretta G. Gallent, chairman of the board of Digitran, stated that the complaint in the class action alleges misrepresentation contained in certain of Digitran public filings, negligent misrepresentation and violations of the federal securities laws relating to alleged misstatements concerning the company's sales and earnings in fiscal year ended April 30, 1992. Gallent said that the company and its legal counsel have not, as yet, had an opportunity to study in detail the allegations contained in the complaint, but emphasized that the company and its management deny liability and intend to vigorously defend this action. -0- 8/19/93 /CONTACT: Lorretta G. Gallent of Digitran, 801-752-9067/ (DGT)
CO: Digitran Systems, Incorporated ST: Utah IN: CPR SU:
RA-BN -- AT009 -- 4473 08/19/93 16:18 EDT
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|Date:||Aug 19, 1993|
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