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NICE Settles Class-Action Securities Litigation; Settlement Covered by Insurance; Claims Settled Without Admission of Liability or Wrongdoing.

Publication: Business Wire
Publication Date: 11-MAR-02
Format: Online - approximately 538 words
Delivery: Immediate Online Access

Article Excerpt
Business Editors, High-Tech Writers

RA'ANANA, Israel--(BUSINESS WIRE)--March 11, 2002

NICE Systems (Nasdaq:NICE), a worldwide leader of multimedia recording solutions, applications and related professional services for business interaction management, today that the District Court in Tel Aviv has approved a settlement agreement relating to class-action securities litigation against NICE in Israel as a result of the restatement of its financial statements for 1999 and 2000.

Under the terms of the agreement, all claims by Israeli shareholders against the Company or...

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