The parties have reached a tentative $6.1 million settlement of a class action filed against computer retailer CompUSA, Inc. (formerly Nasdaq: CPU) and certain of its officers and directors by stockholders who purchased the company's common stock or publicly traded options between December 31, 1997, and April 29, 1998. The action claims that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company's securities. To recover under the settlement, a completed proof of claim postmarked no later than December 19, 2003, must be mailed to the claims administrator.

In March 2000 CompUSA became a privately held company, under the new leadership of Mexican retail company Grupo Sanborns.

The settlement will not be effective until the court grants it final approval. The court has scheduled a hearing on the matter for October 14, 2003.