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MORE) Dow Jones Newswires

04-06-05 0830ET

DJ Digital Video Says Judge Finds In Favor Of Former CEO >DVID


PALO ALTO, Calif. (Dow Jones)--In a wage dispute involving a former chief executive, Digital Video Systems Inc. (DVID) said a judge denied the company's motions for a new trial and found in favor of the former chief executive, who sought compensation allegedly due to her.

The developer of digital video technologies filed a notice of appeal Tuesday with the California Court of Appeal, Digital Video said in a press release Wednesday.

On Feb. 1, a jury in a case in the Superior Court of Santa Clara County, Calif., rendered a verdict against the Digital Video, finding that the company's former chief executive, Mali Kuo, had a series of binding agreements with the company and that she was entitled to about $2.67 million.


Corrected April 8, 2005 15:49 ET (19:49 GMT)

(MORE) Dow Jones Newswires

04-06-05 1057ET

DJ Digital Video Says Judge Finds In Favor Of Former CEO -2-
A month later, the judge held hearings to consider the company's motions for a new trial.

Meanwhile, in a separate case involving B.H. Lee, the former chief executive of the company's Korean unit, DVS Korea Co., the Seoul High Court in South Korea ruled in the company's favor regarding a salary and severance dispute.

Separately Wednesday, Digital Video said Nasdaq's terms included the company being able to meet a closing bid price of at least $1 a share on or before Feb. 23 and for a minimum of 10 consecutive trading days thereafter.

Separately, Digital Video said it received a letter from Nasdaq indicating the company has complied will all terms of the Nasdaq panel decision dated Jan. 6.

Nasdaq's letter further stated that the company has resolved the concerns and additional deficiencies raised by the Nasdaq staff in a letter dated March 14 related to compliance with the Nasdaq's shareholder approval requirements, shareholders' equity/market value/net income requirements, as well as board and audit committee requirements.

Shares of Digital Video were trading recently at $2.63, down 28 cents, or 9.6%, on volume of 40,885 shares. Average daily volume is 15,770 shares.

Company Web site: http://www.dvsystems.com


-Jenny Park; Dow Jones Newswires; 201-938-5400; [e-mail]


Corrected April 8, 2005 15:51 ET (19:51 GMT)

(END) Dow Jones Newswires

04-06-05 1105ET

DJ REPEAT & CORRECT: Digital Video Releases Litigation Results


(An item at 10:57 a.m. EDT Wednesday implied there was only one litigation case involving one person. There were two separate cases -- one in the Superior Court of Santa Clara County and the other in the Seoul High Court in South Korea.)

PALO ALTO, Calif. (Dow Jones)--In a wage dispute involving a former chief executive, Digital Video Systems Inc. (DVID) said a judge denied the company's motions for a new trial and found in favor of the former chief executive, who sought compensation allegedly due to her.

The developer of digital video technologies filed a notice of appeal Tuesday with the California Court of Appeal, Digital Video said in a press release Wednesday.

On Feb. 1, a jury in a case in the Superior Court of Santa Clara County, Calif., rendered a verdict against the Digital Video, finding that the company's former chief executive, Mali Kuo, had a series of binding agreements with the company and that she was entitled to about $2.67 million. A month later, the judge held hearings to consider the company's motions for a new trial.

Meanwhile, in a separate case involving B.H. Lee, the former chief executive of the company's Korean unit, DVS Korea Co., the Seoul High Court in South Korea ruled in the company's favor regarding a salary and severance dispute.

Separately Wednesday, Digital Video said Nasdaq's terms included the company being able to meet a closing bid price of at least $1 a share on or before Feb. 23 and for a minimum of 10 consecutive trading days thereafter.

Separately, Digital Video said it received a letter from Nasdaq indicating the company has complied will all terms of the Nasdaq panel decision dated Jan. 6.

Nasdaq's letter further stated that the company has resolved the concerns and additional deficiencies raised by the Nasdaq staff in a letter dated March 14 related to compliance with the Nasdaq's shareholder approval requirements, shareholders' equity/market value/net income requirements, as well as board and audit committee requirements.

Shares of Digital Video were trading recently at $2.63, down 28 cents, or 9.6%, on volume of 40,885 shares. Average daily volume is 15,770 shares.

Company Web site: http://www.dvsystems.com


-Jenny Park; Dow Jones Newswires; 201-938-5400; [e-mail]


(END) Dow Jones Newswires

04-08-05 1544ET










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