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Article: Pomeroy IT Solutions, Inc. Enters into Memorandum of Understanding to Settle Purported Class Action Lawsuit Related to Pending Merger.
- Article from:
- PR Newswire
- Article date:
- November 5, 2009
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HEBRON, Ky., Nov. 5 /PRNewswire-FirstCall/ -- Pomeroy IT Solutions, Inc. , an information technology ("IT") solutions provider (the "Company"), announced today that it entered into a memorandum of understanding to settle the purported class action lawsuit styled Hughes v. Pomeroy IT Solutions, Inc., et al., Case No. 4631-CC, filed on October 8, 2009 in the Commonwealth of Kentucky Boone Circuit Court. The lawsuit alleges, among other things, that the Company's directors are in breach of their fiduciary duties to stockholders in connection with the Company entering into the Agreement and Plan of Merger dated as of September 25, 2009 by and among the Company, Project ...