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PR: Ride Responds to Shareholder Lawsuit |
PR: Litigation Filed on Behalf of Ride's Holders of Common Stock (3-17-97) PR: Variflex, Inc. Reports Second Quarter; Six Months Results (3-12-97) |
PRESTON, Wash., March 20-- Ride, Inc. (Nasdaq: RIDE) was notified on Monday, March 17, 1997, that it has been named as a defendant in a lawsuit brought by a Virginia shareholder relating to the 1996 decline in the Company's stock price. The suit also names four of the Company's founders as defendants. Ride is currently reviewing the case with legal counsel and with its insurance carrier and intends to vigorously defend this action. "While we take any lawsuit seriously, we will not allow this to divert our focus from our number one goal -- to be the best snowboard company in the world," stated Bob Hall, president and CEO of Ride. "We will continue to develop cutting edge products, provide superior customer service and build the Ride brands." |
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