Court dismisses class-action suit against Diebold

Court dismisses class-action suit against Diebold
Tags: Bank / Credit Union, Diebold, Incorporated, Manufacturers, North America, Public Companies, Regulatory Issues
September 2, 2008

NORTH CANTON, Ohio — The 2005 lawsuit filed against Diebold Inc. by five shareholders has been dismissed.

According to a news release, the cases, which also named certain current and former Diebold officers and directors, alleged violations of federal securities laws. The U.S. District Court for the Northern District of Ohio dismissed the cases Aug. 22 and entered a judgment in favor of Diebold and the other defendants.

A separate class action suit against Diebold and certain current and former officers and directors filed by participants in the company's 401(k) plan — alleging breaches of duties under the Employee Retirement Income Security Act of 1974 — remains open.