KVHI KVH Industries Inc

Teamsters' Pension Fund Leads Class Action Against KVH Industries Plaintiffs Seek to Recover Tens of Millions of Dollars From Company That Misled Investors WASHINGTON, Dec. 13 /PRNewswire/ -- On November 22, the Teamster Affiliates Pension Plan (TAPP), as lead plaintiff, filed a securities class action lawsuit against KVH Industries (NASDAQ:KVHI), the Company's President, CEO, and Director, Martin Kits van Heyningen, and the Company's CFO, Patrick Spratt. The complaint alleges that KVH and its officers, among other things, issued materially false and misleading statements regarding the Company's financial results and the strong demand for one of the Company's new products. The complaint further alleges that the Company failed to disclose to shareholders material facts about the financial condition of the Company in order to complete a $51.5 million public offering of KVH common stock. The lawsuit covers the class period of Oct 1, 2003-July 2, 2004. "We believe actions by top officers at KVH Industries have harmed shareholders, including thousands of Teamster families," said C. Thomas Keegel, Teamster General Secretary-Treasurer, who also serves as Trustee for the Teamsters Affiliates Pension Plan. "We will always fight to protect the retirement security of our members and their families." For more information about the class action lawsuit, contact Samuel Rudman of Lerach, Coughlin, Stoia, Geller, Rudman & Robbins at (631) 367-7100 or at . Founded in 1903, the International Brotherhood of Teamsters represents more than 1.4 million hardworking men and women throughout the United States and Canada. CONTACT: Galen Munroe of the International Brotherhood of Teamsters, +1-202-624-6911. DATASOURCE: International Brotherhood of Teamsters CONTACT: Galen Munroe of the International Brotherhood of Teamsters, +1-202-624-6911 Web site: http://www.teamster.org/

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