Printcafe Responds to Stockholder Suit, EFI Affirms Support
Press release from the issuing company
June 27, 2003 -- Printcafe has been advised that a class action lawsuit has been filed against the Company alleging, among other things, that the Company made false and misleading statements in connection with its initial public offering and subsequent press releases through October 22, 2002.
Marc Olin, Chairman of the Board and Chief Executive Officer, and Joseph Whang, Chief Financial Officer and Chief Operating Officer, are also named as defendants in the complaint. The lawsuit has been filed in the United StatesDistrict Court for the Western District of Pennsylvania.
The Company stated, "We believe the lawsuit is completely without merit and we intend to vigorously defend against it."
Printcafe has entered into a merger agreement with Electronics for Imaging, Inc. (EFI) which provides for the acquisition of Printcafe for $2.60 per share for each outstanding Printcafe share. The merger is expected to close during the third quarter of 2003.
Joseph Cutts, CFO of EFI said "Printcafe has informed us of this lawsuit, and we have not changed our plans for the merger as a result of the filing of this complaint."
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