Trans-Lux to fight claims brought by Gamco in court

By Lisa Kerner

Charlotte, N.C., Feb. 4 - Gamco Investors, Inc. and its affiliates including Mario Gabelli filed a complaint, both individually and derivatively, on behalf of Trans-Lux Corp. in the U.S. District Court for the Southern District of New York.

The complaint was filed on Jan. 29 against four of the company's directors - Richard Brandt, Thomas Brandt, Matthew Brandt and Michael R. Mulcahy - and names the company as a nominal defendant, according to a form 8-K filed with the Securities and Exchange Commission.

According to Trans-Lux, the alleged basis for the complaint is the company's sale of its entertainment division to Storyteller Theaters Corp. in July 2008.

Trans-Lux said it will vigorously defend the company and its directors against claims it believes are without merit.

Gamco recently reported the sale of Trans-Lux shares, reducing its stake in the Norwalk, Conn.-based company to 44.33%, according to a prior SEC filing.

Trans-Lux designs, manufactures and installs large-scale indoor and outdoor LED electronic display systems.

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