Business Services Industry
RADISYS ASSERTS NO SUBSTANCE TO LAWSUIT; RadiSys Volunteers Cooperation with SEC
Business Wire, Jan 31, 1997
HILLSBORO, Ore.--(BUSINESS WIRE)--Jan. 31, 1997--In response to inquiries, RadiSys Corp. (NASDAQ: RSYS) reasserted today that there is no substance to the allegations of financial discrepancies that were made by a former employee in a wrongful termination lawsuit filed in July 1996.
The company reported that the litigation is currently in the discovery phase, with certain documentation having been exchanged and depositions scheduled to continue into February.
In connection with this lawsuit, in November 1996 RadiSys received some inquiries regarding this lawsuit and whether it had been contacted by the SEC. At that time, RadiSys had not been contacted by the SEC. Subsequently, RadiSys contacted the SEC and volunteered its full cooperation.
RadiSys reported yesterday that the SEC later asked RadiSys to voluntarily provide the SEC with supporting documentation for its financial statements and certain additional information related to the allegations in the litigation. The company promptly provided the SEC with all of the requested documents. The SEC's letter stated that the request "should not be construed as an adverse reflection on any person, security, issuer, or transaction." The company has not been contacted by the SEC since complying with its request and intends to cooperate fully with any inquiry from the SEC in the future.
RadiSys is the leading independent supplier of embedded computer technologies used by OEMs in manufacturing automation, telecommunications, medical equipment, transportation, test and measurement, and retail/office automation applications.
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For more information, contact RadiSys at investor.relations@radisys.com or World Wide Web Page: http://www.radisys.com or call the RadiSys Investor Relations Line at 503-615-RSYS.
CONTACT: RadiSys Corp.
Brian V. Turner, 503/615-1100
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