GTECH Holdings Corp.

Kafenbaum v. GTECH Holdings Corp. et al., No. CA 00 413L, District of Rhode Island. A securities class action was commenced against GTECH and certain officers and directors stemming from the alleged false and misleading statements by the defendants concerning their lottery business activities in the U.K., including their efforts to renew their contract with the U.K. Lottery Commission. As a result of the litigation a recovery of $10.25 million was obtained, representing approximately one quarter of the alleged damages to the class.