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January 13, 2003

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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