Market Overview

TransAct Technologies and Avery Dennison Corporation Settle All Outstanding Litigation


TransAct Technologies Incorporated (Nasdaq: TACT) ("TransAct" or "the Company"), a global leader in market-specific solutions, including printers, terminals, software and other products for transaction-based and other industries, announced today that the Company and Avery Dennison Corporation have resolved the dispute which was the subject of the lawsuit filed by Avery Dennison to the parties' mutual satisfaction.

"With this litigation behind us, management can now commit its full attention to our existing businesses and our many long-term growth opportunities," said Bart C. Shuldman, Chairman and CEO of TransAct Technologies. "The Company's Board of Directors remains committed to returning capital to shareholders through ongoing quarterly dividends and our existing stock repurchase program. However, we have decided to cancel the non-discretionary, pre-scheduled Rule 10b5-1 trading plan that was part of our stock repurchase authorization which was otherwise scheduled to end on April 30, 2015. Our current share repurchase authorization remains in effect with approval to purchase shares from time to time and as market and business conditions warrant."

Posted-In: News Legal


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