Tandon Corp, Chatsworth, California has has reached agreement in principle, subject to court approval, to settle securities class action and related shareholder lawsuits initially filed in July: Tandon has not admitted any liability and says almost all the cash portion of the settlement will be covered by insurance; the settlement fund will consist of $8m in cash, 930,000 Tandon shares, and $10m face amount of coupons to be used toward the purchase of Tandon computers; if they are not so used, they can be exchanged at 35 percent of face amount for cash or Tandon shares; up to $100 in coupons can apply toward purchase of each computer.
