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| Lawsuit Against REMEC Directors Dismissed |
SAN DIEGO, April 10 /PRNewswire-FirstCall/ -- REMEC, Inc. (Nasdaq: REMC), announced today that the Superior Court of the State of California, County of San Diego, has entered a dismissal of the purported shareholder derivative lawsuit filed against the directors of REMEC in September 2002 by the law firm of Robbins Umeda & Fink, LLP in the name of David Szalay, derivatively on behalf of the Company. The complaint asserted, among other things, that the directors breached their fiduciary duties in relation to the merger between Spectrian Corporation and REMEC that was completed on December 20, 2002. On March 4, 2003, the plaintiffs' attorneys filed a motion to dismiss the case and to be awarded $875,000 in attorneys' fees and expenses. On April 3, 2003, Robbins Umeda & Fink, LLP requested a dismissal of the case in its entirety, which was granted by the court on April 3, 2003. REMEC did not make or promise to make any payment, direct or indirect, to the plaintiffs or their counsel for the dismissal of the action. About REMEC REMEC is a designer and manufacturer of high frequency subsystems used in the transmission of voice, video and data traffic over wireless communications networks and in space and defense electronics applications. REMEC is located at 3790 Via de la Valle, Del Mar, CA 92014. For more information, visit the company's Web site at http://www.remec.com or call (858) 505-3713. Statements in this press release that are not historical are forward-looking statements, which involve known and unknown risks and uncertainties. Actual results could differ materially from those implied by such forward-looking statements due to a variety of factors, including, general and industry economic conditions, competition, development factors, operating costs and other risks and uncertainties that are detailed from time to time in our filings with the Securities and Exchange Commission. SOURCE REMEC, Inc.
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