Connectivity software company Wall Data has said it will take a $9 million charge to settle a shareholder lawsuit related to charges of violating securities law.
The charge dragged down Wall Data?s preliminary results for the second quarter ended 30 June 1997. Net revenues for the quarter were estimated at $35.5 million compared to $34.8 million for the same quarter last year.
Compensation paid to the retiring chief executive Jim Simpson and restructuring of business units added further charges totalling $1.7 million. Final results for the quarter are due on 17 July.
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