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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This blog is for informational purposes only. In other words, it does not constitute legal advice and is not intended to create an attorney-client relationship. Online readers should not act upon any information presented on this blog without seeking professional legal counsel. Finally, the posts on this blog represent the personal views of Lyle Roberts, not the views of his law firm or clients.
The author apologizes for any factual errors in this blog. Although he will act quickly to correct errors pointed out to him, he declines to take responsibility for the mischief that may result in the interim.
The 10b-5 Daily · News and events related to securities class action litigation. Containing all facts, with particularity, and an occasional dose of commentary.
The 10b-5 Daily 