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Bergeson Eliopoulos Negotiates
Favorable Settlement for Former CEO of InaCom
On January 13, 2003, the United States District
Court for the District of Delaware approved the settlement of
the securities class action, In re InaCom Corporation Securities
Litigation, Master File No. 00-701 (JJF). In this class action,
Plaintiffs alleged that defendants issued materially false and
misleading press releases and other statements regarding InaCom's
financial condition as part of a scheme to artificially inflate
the value of InaCom's securities, thereby violating Sections 11,
12(a)(2), and 15 of the Securities Act of 1933, and Sections 10(b),
14(a), and 20(a) of the Securities Exchange Act of 1934, and Rules
10b-5 and 14a-9 promulgated thereunder. After defendants filed
extensive motions to dismiss the consolidated amended complaint,
and despite plaintiffs' allegations of potentially hundreds of
millions of dollars in damages, the class action was successfully
settled for an amount below the primary insurance policy limits.
Bergeson Eliopoulos, LLP attorneys Daniel Bergeson and Caroline
McIntyre represented the former Chairman of the Board of InaCom
in the litigation and negotiations leading to the favorable settlement.
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