MedQuist Inc.

Mt. Laurel, NJ: (Mar-28-07) A shareholder putative class action lawsuit was filed by lead plaintiff William Steiner against MedQuist, Inc., et al. involving the company and several former officers of the company as defendants. The class action accused MedQuist of violating sections of the Securities Exchange Act of 1934. The Greater Pennsylvania Pension Fund subsequently, on November 15, 2005, filed the operative Second Amended Complaint, which asserts these same causes of action for violation of the federal securities laws, and alleged such violations occurred from April 23, 2002, through November 2, 2004. Though not admitting to any wrongdoing or liability, MedQuist entered into a Memorandum of Understanding on March 23, 2007 in which it agreed to pay $7.75 million to settle all claims, throughout the class period, against all defendants in the action. [DIGITAL 50 NEWS: MEDQUIST SETTLEMENT]