DHB Industries Will Vigorously Defend Lawsuits
2005年9月23日 - 7:14AM
PRニュース・ワイアー (英語)
WESTBURY, N.Y., Sept. 22 /PRNewswire-FirstCall/ -- DHB Industries
Inc. (AMEX:DHB), DHB Industries, Inc., operating principally in the
field of body armor, announced that, since September 16, 2005, it
has been served with a number of lawsuits, all of which contain
similar allegations. One of the lawsuits is filed as a derivative
action and names the Company and all of its directors as
defendants. All of the other lawsuits are purported class actions
and name the Company and all or some of its directors as
defendants. The lawsuits allege violations of the federal
securities laws and/or state law claims based on purported fraud,
misrepresentation, and breach of fiduciary duty. The central
allegation in each lawsuit is that DHB public disclosures from
April 2004 to August 2005 were false or misleading because they did
not disclose certain information. The lawsuits allege that DHB's
body armor products were defective and failed to meet the standards
of its customers, and that these alleged facts should have been
publicly disclosed. The lawsuits seek monetary damages and various
forms of equitable relief. The Company adamantly denies that any of
its public disclosures have been false or misleading. These
lawsuits followed DHB's announcement, on August 30, 2005, that it
was discontinuing production of Zylon(R)-containing bullet
resistant products due to the sudden, unexpected action of the
National Institute of Justice (NIJ), a division of the Department
of Justice, in issuing a Body Armor Standard Advisory Notice
alerting law enforcement agencies of the potential risks associated
with the use of Zylon(R) in body armor. As a result, the Company
immediately announced on August 30, 2005, that it was implementing
a replacement program to assist customers who presently have body
armor containing Zylon(R). As previously disclosed, the Company
remains confident in the safety and performance of all of its body
armor products, including those containing Zylon(R). The vast
majority of body armor sold by the Company does not contain any
Zylon(R). This includes substantially all of the body armor sold to
branches of the U.S. Military. During the past five years, sales of
body armor containing Zylon(R) made up less than five percent of
the Company's total revenues. All of these models were certified by
the NIJ prior to being sold to customers. The Company cannot
predict the outcome of the lawsuits or whether the Company's
financial condition or results of operations may be materially
affected as a result of the lawsuits. Because of their similarity,
the Company believes that most or all of the lawsuits will be
consolidated into a single action and that the Company will not be
required to defend all of the lawsuits individually. The Company
believes that the recently filed lawsuits are baseless and intends
to vigorously defend them. About DHB Industries, Inc. DHB
Industries Inc.'s Armor Group is in the rapidly growing protective
body armor industry. Its highly recognized subsidiaries, Point
Blank Body Armor Inc. (http://www.pointblankarmor.com/) and
Protective Apparel Corporation of America (PACA)
(http://www.pacabodyarmor.com/) are focused on the design,
manufacture, and distribution of bullet resistant and protective
body armor for military, law enforcement, and corrections in the US
and worldwide. DHB Armor Group's customers include the U.S. Army,
Air Force, Navy, Marines, Coast Guard, Secret Service, FBI, DEA,
INS, ATF, NATO, U.S. Marshals, the NYC Police Department, the LA
Police Department, and the California Highway Patrol. DHB Sports
Group produces and markets a comprehensive line of athletic
supports and braces which are merchandised through national
superstore chains including Target and Wal-Mart, as well as private
label distributors such as Meijer, Amerisource, Cardinal Health,
and CDMA. DHB maintains facilities in Westbury, NY, Deerfield
Beach, FL, Pompano Beach, FL, Oakland Park, FL, Jacksboro, TN, and
Arlington, VA. To learn more about DHB Industries Inc., visit the
website at http://www.dhbindustries.com/. Safe Harbor Statement
under the Private Securities Litigation Reform Act of 1995: The
Statements which are not historical facts contained in this press
release are forward-looking statements that involve certain risks
and uncertainties including but not limited to risks associated
with the uncertainty of future financial results, additional
financing requirements, development of new products, government
approval processes, the impact of competitive products or pricing,
technological changes, the effect of political and economic
conditions and other uncertainties detailed in the Company's
filings with the Securities and Exchange Commission. Company
Contact: Dawn Schlegel, CFO DHB Industries Inc. 516/997-1155
DATASOURCE: DHB Industries Inc. CONTACT: Dawn Schlegel, CFO, DHB
Industries Inc., +1-516-997-1155, Web site:
http://www.dhbindustries.com/ http://www.pointblankarmor.com/
http://www.pacabodyarmor.com/
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Dhb Industries (AMEX:DHB)
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Dhb Industries (AMEX:DHB)
過去 株価チャート
から 6 2023 まで 6 2024