THE DEFENDANTS’ DENIALS OF WRONGDOING AND LIABILITY Sample Clauses

THE DEFENDANTS’ DENIALS OF WRONGDOING AND LIABILITY. Defendants have denied and continue to deny that they violated the federal securities laws and maintain that their conduct was at all times proper and in compliance with all applicable law. Defendants have denied and continue to deny specifically each and all of the claims alleged in the Action, along with all charges of wrongdoing or liability against them arising out of any of the conduct, statements, acts or omissions alleged, or that could have been alleged, in the Action. Defendants also have denied and continue to deny, inter alia, the allegations that any of the Defendants made, knowingly or otherwise, any material misstatements or omissions; that Defendants acted negligently, recklessly or with culpable intent; that any member of the Class has suffered any damages; that the price of Orbital ATK common stock was artificially inflated by reason of the alleged misrepresentations, omissions, or otherwise; or that the members of the Class were harmed by the conduct alleged in the Action or that could have been alleged as part of the Action. In addition, Defendants maintain that they have meritorious defenses to all claims alleged in the Action. Nonetheless, taking into account the uncertainty, risks, costs, and distraction inherent in any litigation, especially in complex cases such as this Action, Defendants have determined that it is desirable to them that the Action be settled in the manner and upon the terms and conditions set forth in this Stipulation.
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Related to THE DEFENDANTS’ DENIALS OF WRONGDOING AND LIABILITY

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