A.T. Cross Securities Securities Litigation

A.T. Cross developed and marketed Pen Computing Products, including its Crosspad. According to the lawsuit, A.T. Cross improperly accounted for sales of its Crosspad that effectively masked its true sales trend. The lawsuit claims that the Defendants engaged in improperly undisclosed revenue recognition practices, including contingent sales, sales with rights of returns, and channel stuffing activities and did not properly account for such sales practices. The lawsuit claims that the Defendants misled investors by concealing these sales practices from the public while making positive statements about A.T. Cross's Pen Computing Business. The Defendants deny they did anything wrong.

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