FileNet Settles Shareholder Suit: FileNet Corp., a...

FileNet Settles Shareholder Suit: FileNet Corp., a maker of computers that process documents, said it has settled a shareholder lawsuit filed against it last year. Michael Friedman, a FileNet shareholder, alleged in his suit that the Costa Mesa company’s officers misled investors by issuing statements that portrayed FileNet’s financial prospects as brighter than they actually were. The company decided to settle the suit by paying Friedman $10,000 plus $85,000 for legal fees, said Mark St. Clare, chief financial officer. He said the cost of fighting the suit would have been greater than the cost of the settlement.