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·Two securities class action lawsuits were filed against Gilat Satellite Networks and a number of its officers and directors Monday.
The litigation includes actions filed in U.S. District Court for the Eastern District of New York and in the U.S. District Court for the Eastern District of Virginia. The complaints were filed on behalf of purchasers of Gilat securities between Aug. 14, 2000, and Oct. 2, 2001, and allege violations of federal securities laws and claims that the defendants issued material misrepresentations to the market.
Gilat said it hasn't received the complaints to date, but has reviewed one of the complaints available online, and said that it believes that the lawsuits are without merit. The company said it intends to vigorously defend its position in the litigation.
In another legal move, a federal court judge agreed to postpone a hearing concerning the programming spat between EchoStar and Disney until March 18. The skirmish involves EchoStar's carriage of ABC Family on its DISH Network DBS service.
According to the Associated Press, the companies are close to negotiating an end to their spat, although details of an agreement between the two sides were not known at press time.
From SkyReport (Used with permission)
The litigation includes actions filed in U.S. District Court for the Eastern District of New York and in the U.S. District Court for the Eastern District of Virginia. The complaints were filed on behalf of purchasers of Gilat securities between Aug. 14, 2000, and Oct. 2, 2001, and allege violations of federal securities laws and claims that the defendants issued material misrepresentations to the market.
Gilat said it hasn't received the complaints to date, but has reviewed one of the complaints available online, and said that it believes that the lawsuits are without merit. The company said it intends to vigorously defend its position in the litigation.
In another legal move, a federal court judge agreed to postpone a hearing concerning the programming spat between EchoStar and Disney until March 18. The skirmish involves EchoStar's carriage of ABC Family on its DISH Network DBS service.
According to the Associated Press, the companies are close to negotiating an end to their spat, although details of an agreement between the two sides were not known at press time.
From SkyReport (Used with permission)
