TSR, Inc. Announces Final Court Order Approving Settlement in the Stockholder Derivative Action
May 26 2021 - 5:00PM
Business Wire
TSR, Inc. (Nasdaq: TSRI) (the “Company”), a provider of
information technology consulting and recruiting services, today
announced that on May 24, 2021, the Supreme Court of the State of
New York, Queens County issued a final order and judgment approving
the settlement in the stockholder class and derivative action
captioned Susan Paskowitz v. James J. Hill et al., No. 715541/2018,
filed by Susan Paskowitz, a stockholder of the Company, on October
16, 2018 (the “Stockholder Action”).
On December 16, 2019, the Company entered into a Stipulation and
Agreement of Settlement with Susan Paskowitz providing for the
settlement of the Stockholder Action (the “Stipulation”). On May
21, 2020, the Court entered an order preliminarily approving the
settlement.
Pursuant to the terms of the final order, the Court fully and
finally approved the settlement set forth in the Stipulation and
dismissed the Stockholder Action with prejudice. The settlement
payment is expected to be paid by the Company’s insurance provider
under its insurance policy.
Forward-Looking Statements
This press release and any statements of employees,
representatives and officers of the Company related thereto
contain, or may contain, among other things, certain
“forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements involve significant risks and uncertainties. Such
statements may include, without limitation, statements with respect
to the Company’s plans, objectives, projections, expectations and
intentions and other statements identified by words such as
“projects,” “may,” “will,” “could,” “would,” “should,” “believes,”
“expects,” “anticipates,” “estimates,” “intends,” “plans,”
“potential” or similar expressions. These statements are based upon
the current beliefs and expectations of the Company’s management
and are subject to significant risks and uncertainties, including
those detailed in the Company’s filings with the Securities and
Exchange Commission. These forward-looking statements involve
certain risks and uncertainties that are subject to change based on
various factors (many of which are beyond the Company’s control).
The Company undertakes no obligation to publicly update any
forward-looking statements, whether as a result of new information,
future presentations or otherwise, except as required by applicable
law.
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version on businesswire.com: https://www.businesswire.com/news/home/20210526005579/en/
Thomas Salerno 631-231-0333
TSR (NASDAQ:TSRI)
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