Advertisement

Lotus Development Corp. is being sued for...

Lotus Development Corp. is being sued for alleged securities fraud in connection with delays in an upgraded version of its popular Lotus 1-2-3 software program. The suit alleges that the Boston-based firm and two of its directors, Jim P. Manzi and Alexander V. d’Arbeloff, “disseminated false and misleading information” about delivery of Lotus 1-2-3 Release 3. The suit was filed in federal last week by a shareholder, Matthew J. Berliner, on behalf of everyone who bought Lotus stock between Feb. 25 and Oct. 7. He is seeking to make it a class action. “The allegations are entirely without merit,” Lotus attorney Henry B. Gutman said.


Advertisement