Word: centigram
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Dates: during 1990-1999
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...quarter of the nation's securities-fraud suits are brought against California-based firms. One target was Centigram Communications Corp. of San Jose, which was sued after its stock dropped from $14 to $11 in late 1994. Lerach accused company officials of dumping stock nine months earlier. Although a judge threw out all but one charge, Centigram decided, after nearly a year of fighting, to settle for $1.5 million, a typical corporate approach. "We did an economic analysis," says president and CEO George Sollman. "I calculated that going into court and trying this would cost us between...
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