Integral Systems ‘making progress’ in resolving lawsuitPosted on
Integral Systems announced that a preliminary order was filed approving voluntary dismissal of a shareholder derivative action against the company.
The lawsuit was filed July 14 in the U.S. District Court for the District of Maryland. The order included a Notice of Voluntary Dismissal of Derivative Action.
The shareholder filing the complaint had submitted a demand letter Feb. 23 to the company’s board of directors. The company said it anticipates final resolution of this action in “a reasonable period of time.”
“We are pleased that we are making progress in resolving this outstanding matter, and we are looking forward to a resolution so that we may focus our attention on the growth of the company and delivering value to our customers and shareholders,” CEO Paul Casner said in a statement.
Based in Columbia, Md., Integral Systems provides integrated technology solutions for SATCOM-interfaced networks.