Court Approves DHB Industries Securities Class Action Lawsuit Settlement
United States District Court Eastern District of New York, had granted the plaintiffs’ motion for preliminary approval of the settlement of a class action lawsuit filed against DHB Industries Inc. , a leader in the field of protective body armor on behalf of all persons who purchased or otherwise acquired DHB shares during the period from November 18, 2003 through November 30, 2006.
As of June 30, 2007, the Company had approximately $7 million outstanding under its credit facility. During the first six months of 2007, debt outstanding averaged approximately $6 million. Outstanding amounts fluctuate daily based on collections from customers and the timing of payments for goods and services.
As of June 30, 2007, the Company had 51,027,535 shares of its common stock issued and outstanding.
Additionally, the Company reaffirmed that it remains on track to file audited annual financial results through 2006 by the end of the third quarter of 2007. The Company is working with its independent auditors to complete the financial statements required by the Securities and Exchange Commission (SEC).
Filed under Class Action, General Law, Settlements
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