Gilat Satellite Networks Ltd. said today that it has become aware of two securities class action lawsuits filed against it and certain of its officers and directors.
The litigation includes actions filed on March 11, 2002 in the United States District Court for the Eastern District of New York and on March 11, 2002 in the United States District Court for the Eastern District of Virginia.
These complaints are brought on behalf of purchasers of securities of the Company between August 14, 2000 and October 2, 2001 inclusive, and allege violations of the federal securities laws and claim that the defendants issued material misrepresentations to the market.
The Company has not received the complaints to date but has reviewed one of the complaints available online and believes that the lawsuits are without merit. The Company intends to vigorously defend its position in this litigation.
