 |
 |
||
 |
 |
 |
|
 |
|
 |
|
 |
|
 |
|
 |
|
 |
|
 |
|
 |
|
 |
|
 |
|
 |
|
 |
News / Newsletter |
| District Court Sustains Securities Claims on Behalf of TyCom Ltd. Investors |
|
District Court Sustains Securities Claims on Behalf of TyCom Ltd. Investors
You must have Adobe Acrobat Reader to view the complaint and the .
On September 2, 2005, the U.S. District Court for the District of New Hampshire entered a Memorandum and Order that sustained in substantial part securities claims asserted against Tyco International Ltd., L. Dennis Kozlowski and Mark H. Swartz, among others. The action, which is being prosecuted by Wolf Popper LLP, relates to the Initial Public Offering of 70.3 million shares of TyCom Ltd. common stock (a Tyco subsidiary) at $32 a share on July 26, 2000. The action is on behalf of all persons who purchased TyCom common stock on that initial Offering or on the open market between July 26, 2000 and December 17, 2001. The District Court determined, in denying in substantial part defendants’ motion to dismiss, that plaintiff’s complaint sufficiently pleads claims under the federal securities laws that the Registration Statement for the Offering and defendants’ other public statements during the Class Period were materially false and misleading because they misrepresented (i) the demand for bandwidth and (ii) that swaps of capacity with other companies were “sales” that qualified for revenue recognition. Investors seeking more information on this action may contact Robert C. Finkel, Wolf Popper LLP, 845 Third Avenue, New York, NY 10022, T. 212.451.9620; email: irrep@wolfpopper.com.
|
|
__________________________________________________
Home
| Stock Investigation Guide
| Portfolio Monitoring
|
