Sierracin will self-insure its directors and officers.

Chairman Christoph Tribull, a 42.5% shareholder, was among those voting for the new liability coverage; he and Sierracin are being sued for a total of $110 million by a former director and an ex-president, and the firm's current coverage will not be renewed. The action was taken at a 15-minute annual meeting at the aerospace and electronics firm's Sylmar headquarters, where many of the about 20 shareholders in attendance expressed outrage that no questions were allowed.

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