Notice of Pendency of Class Action against Alcatel S.A. on Behalf of Former Shareholders of DSC
Communications Corporation.
BusinessWire, Thursday, October 01, 1998 at 11:42
NEW YORK--(BUSINESS WIRE)--Oct. 1, 1998--Wolf Haldenstein Adler
Freeman & Herz LLP filed a class action lawsuit on September 29, 1998,
in the United States District Court for the Southern District of New
York on behalf of all individuals and entities whose shares of common
stock of DSC Communications Corporation ("DSC") were exchanged for
American Depository Receipts ("ADRs") of Alcatel S.A. (NYSE:ALA)
("Alcatel" or the "Company") in connection with Alcatel's acquisition
of DSC on September 7, 1998 (the "Merger"), and who were damaged
thereby.
If you wish to discuss this action please contact Wolf
Haldenstein Adler Freeman & Herz LLP (Michael Miske or David A.P.
Brower, Esq.) at 800/575-0735 or visit their website at www.whafh.com.
The complaint charges Alcatel and certain of its officers and
directors with violations of Sections 11, 12(2) and 15 of the
Securities Exchange Act of 1933, and of Sections 10(b) and 20(a) of
the Securities Exchange Act of 1934 for, among other things, making
public statements and issuing a registration statement and proxy
statement/prospectus in connection with the Merger containing false
and misleading representations regarding the Company's financial
condition and future prospects. The false and misleading
representations artificially inflated the value of Alcatel's ADRs
which Alcatel used to purchase DSC. On September 17, 1998, less than
two weeks after the consummation of the Merger, Alcatel announced that
it would fail to meet analysts' 1998 earning projections by $260
million due to curbs in spending in the European, Asian, and Russian
markets. Alcatel ADRs fell over 37% in value on the day of the belated
announcement. Former DSC shareholders were damaged as the value of
their Alcatel ADRs fell to less than the value of the DCS stock prior
to the announcement of the Merger, despite the payment of an 80%
premium for their shares.
Plaintiff is represented by the law firm of Wolf Haldenstein
Adler Freeman & Herz LLP. The Wolf Haldenstein firm has a full service
commercial practice consisting of more than 35 attorneys based in New
York City and San Diego. The firm's litigation department has been
recognized by courts throughout the country as highly experienced and
skilled in complex litigation, particularly with respect to federal
securities laws, class actions and shareholder litigation. The firm's
qualifications have repeatedly received very favorable judicial
recognition. Additionally, the firm has achieved recoveries of over
one billion dollars for defrauded investors and shareholders.
If you are a member of the class described above, you may, not
later than 60 (sixty) days from September 18, 1998, move the court to
serve as lead plaintiff of the class, if you so choose. In order to
serve as lead plaintiff, however, you must meet certain legal
requirements. If you wish to discuss this action or have any questions
concerning this notice or your rights or interests with respect to
these matters, please contact Wolf Haldenstein Adler Freeman & Herz
LLP at 270 Madison Avenue, New York, New York 10016, by telephone at
800/575-0735 (Michael Miske or David A.P. Brower, Esq.) or via e-mail
at classmember@whafh.com or visit their website at www.whafh.com..
All e-mail correspondence should make reference to Alcatel or
DSC.
CONTACT: Wolf Haldenstein Adler Freeman & Herz LLP
Michael Miske or David A.P. Brower, Esq., 800/575-0735
KEYWORD: NEW YORK
INDUSTRY KEYWORD: COMED COMPUTERS/ELECTRONICS
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