VIENNA, Va., June 18 /PRNewswire/ -- GRC International (NYSE: GRH) today
reported that one of its shareholders has filed suit in the Delaware Chancery
Court claiming that the company made unlawful amendments to its Shareholder
Rights Plan, including extending the Plan beyond its original expiration in
1995. The shareholder asks the court to declare that the Plan has expired, and
seeks unspecified damages.
The company believes that its actions were in compliance with Delaware
law, and intends to contest the suit vigorously. The company does not expect
the suit to have any effect on its operations.
As previously announced, the company accelerated the expiration of the
Rights Plan by more than five years from December 31, 2005, to August 31,
2000, in order to provide an orderly expiration.
GRC International Inc., with headquarters in Vienna, Va., provides
knowledge-based professional services and high-quality technology-based
product solutions to government and commercial customers. GRCI is a publicly
traded company listed on the New York Stock Exchange under the symbol GRH.
Additional details about the company can be obtained on the Internet at
http://www.grci.com/.
Inquiries: Wayne Jackson, Director, Corporate Communications,
703-506-5038. GRCI press releases are available on the Internet through
Company News On-Call at http://www.prnewswire.com/.
SOURCE GRC International
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Related links:
http://www.grci.com
Company News On-Call:
http://www.prnewswire.com/comp/320275.html or fax,
800-758-5804, ext. 320275
CONTACT:
Wayne Jackson, Director, Corporate
Communications of GRC International, 703-506-5038
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