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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (date of earliest
event reported): March 1, 1995
NETWORK SYSTEMS CORPORATION
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(Exact name of registrant as specified in its charter)
Delaware 0-9691 41-1231031
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(State of or (Commission File Number) (IRS Employer
other jurisdiction Identification No.)
of incorporation)
7600 Boone Avenue North, Minneapolis, MN 55428
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(Address of principal executive offices)
612-424-4888
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(Registrant's telephone number)
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Item 5. OTHER EVENTS.
Settlement of Class Action Lawsuit
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The Company issued a press release on March 1, 1995 announcing it had reached an
agreement to settle the two lawsuits related to the proposed merger between the
Company and Storage Technology Corporation. A copy of this press release is
attached as an exhibit to this Report and is incorporated by reference herein.
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Item 7. EXHIBITS
99.1 Press Release dated March 1, 1995.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this Report to be signed on its behalf by the
undersigned hereunto duly authorized.
NETWORK SYSTEMS CORPORATION
Date: March 1, 1995 By: /s/ MALCOLM D. REID
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Malcolm D. Reid
Vice President, Secretary
and General Counsel
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FOR IMMEDIATE RELEASE
Contact: Paul JJ Payack: 612.424.1555
Internet: [email protected]
NETWORK SYSTEMS CORPORATION (NSC) ANNOUNCES
SETTLEMENT OF SHAREHOLDER LITIGATION
Minneapolis, March 1 -- Network Systems Corporation (NASDAQ: NSCO), today
announced that it has agreed to a settlement of lawsuits related to the proposed
merger between Network Systems and StorageTek. As previously disclosed, two
complaints have been filed against Network Systems and members of its Board of
Directors in the State Chancery Court in Delaware. In one of the complaints,
StorageTek was also named as a defendant. Under the terms of this settlement,
which is subject to court approval, the plaintiffs have agreed that they will
withdraw their motion to enjoin the merger and that the complaints, including
claims for damages, will be dismissed.
Network Systems also announced that on February 23, 1995 its Board of Directors
unanimously reaffirmed its view that the merger between Network Systems and
StorageTek is fair to, and in the best interests of, Network Systems and its
stockholders.
The Company has sent out additional supplemental proxy materials related to the
merger.
Minneapolis-based Network Systems Corporation provides comprehensive solutions
for successfully implementing high performance enterprise networks. NSC has 11
international subsidiaries and sales and service in more than 30 countries. An
ISO 9001-certified company, NSC posted 1994 revenues of $231 million.
