Business Services Industry

ICT GROUP INC. Makes Announcement

Business Wire, August 4, 1998

LANGHORNE, Pa.--(BUSINESS WIRE)--Aug. 4, 1998--ICT GROUP, INC. (Nasdaq: ICTG) reported on May 20, 1998, that Judge Charles R. Weiner of the United States District Court for the Eastern District of Pennsylvania dismissed a class action complaint alleging that ICT GROUP and certain of its directors had violated provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934.

The action arose out of an initial public offering of the company's common stock in June 1996. However, Judge Weiner granted the plaintiff leave to file an amended complaint with respect to one category of allegations not sufficiently pled.

On July 28, 1998, Judge Weiner denied ICT GROUP's motion to dismiss the plaintiff's First Amended Complaint without prejudice to allowing ICT GROUP to renew their arguments at the conclusion of discovery. ICT GROUP denies all allegations of wrongdoing.

ICT GROUP, headquartered in Langhorne, PA, is an independent provider of call center teleservices for sales, marketing and customer care.

It employs more than 370 professionals in management, sales, systems and operations and approximately 4,500 telephone sales and service representatives and research interviewers.

The company manages 30 call centers in 9 states, Europe and Canada, from which it supports outbound and inbound calling for domestic and multinational corporations and institutions, primarily in the insurance, financial services, telecommunications, information technology, health care, energy and hospitality/transportation industries.

   CONTACT:  Porter, LeVay & Rose Inc.
              INVESTOR CONTACT:
              Jeffrey O'Keefe, 212/564-4700
                  or
              MEDIA CONTACT:
              ICT GROUP, INC.
              Carl E. Smith, 215/702-2023

COPYRIGHT 1998 Business Wire
COPYRIGHT 2008 Gale, Cengage Learning

 

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