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Article: Tidel Reaches Agreement to Settle Securities Class Action Lawsuits.
- Article from:
- PR Newswire
- Article date:
- July 6, 2004
CopyrightCOPYRIGHT 2004 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Tidel Technologies, Inc. (Other OTC: ATMS) announced today that it has reached an agreement in principle to settle the securities class action lawsuits that have been consolidated under the caption George Lehocky v. Tidel Technologies, Inc., James T. Rash, Mark K. Levenick, James L. Britton III and Jerrell G. Clay; Civ. Act. No. H-01-3741 in the United States District Court for the Southern District of Texas. The settlement is subject to a definitive agreement and court approval. The shareholder class will receive a cash payment of $3 million, which will be funded by Tidel's directors and officers liability insurance, and a stock payment of two million shares of Tidel ...
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