Lucent Settlement Receives Preliminary Approval

According to a Reuters report, the proposed settlement of the securities class action and related suits against Lucent Technologies, Inc. (NYSE: LU.N), a New Jersey-based telecommunications equipment maker, has received preliminary court approval. The $600 million settlement was announced last March. The class action, originally filed in 2000, alleges that Lucent misled investors concerning the demand for optical networking products and engaged in improper accounting.

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