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Press ReleaseSource: Applied Digital Solutions
Applied Digital Solutions Settles Class Action Lawsuit
Monday March 10, 9:11 am ET
PALM BEACH, Fla.--(BUSINESS WIRE)--March 10, 2003--Applied Digital Solutions, Inc. (Nasdaq: ADSX - News), an advanced technology development company, announced today that it has reached a memorandum of understanding to settle the pending and consolidated shareholder class action lawsuit.
The settlement involved no admission of liability and will be entirely covered by proceeds from insurance. The settlement is subject to various conditions, including court approvals and approval of a special litigation committee of the Company's Board of Directors.
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