A class action was filed in the U.S. District Court for the Southern District of New York on behalf of purchasers of shares in Dawson Science Corporation ("Dawson") (NASDAQ:DWSC), currently trading as Integrated Transportation Network Group ("ITN") (NASDAQ:ITNG) during the period from March 25, 1997 through December 30, 1997 (the "Class Period").

Dawson was a holding company primarily engaged in the business of rental cars, taxis, and automobile repair in China. Under a reorganization plan, Dawson transferred all its assets, liabilities, and obligations to defendant ITN.

The Complaint alleged that during the Class Period defendants concealed from plaintiff, class members, and the investing public numerous related transactions entered into by Dawson, the true value and nature of acquisitions made by Dawson, the true projected revenue and earnings potential of Dawson, and the numerous risk factors associated with Dawson's business ventures. In addition, throughout the Class Period, defendants continuously disseminated materially false and misleading statements regarding the Company's current financial performance and future business prospects.

Update

This case has been dismissed by mutual stipulation of the parties.