Oh, geez, the blood suckers are out already. Class action #1:
Thursday December 9, 7:37 pm Eastern Time
Company Press Release
SOURCE: Entwistle & Cappucci LLP
Entwistle & Cappucci LLP
Announces Class Action Lawsuit Against Tyco
International Ltd.
NEW YORK, Dec. 9 /PRNewswire/ -- Pursuant to Section 21(D)(a)(3)(A)(i) of the Securities
Exchange Act of 1934 (the ''Exchange Act''), Entwistle & Cappucci LLP, a prominent New York
law firm specializing in securities litigation, hereby gives notice that a class action lawsuit for
violations of the federal securities laws has been filed against Tyco International Ltd. (''Tyco'' or
the ''Company'') (NYSE: TYC - news) and certain of its officers and directors in the United States
District Court for the Southern District of Florida. The lawsuit was brought on behalf of all persons
who purchased Tyco common stock between December 10, 1998 and December 8, 1999,
inclusive (the ''Class Period'').
The complaint charges Tyco and certain of its officers and directors with violations of Sections
10(b) and 20(a) of the Exchange Act as well as Rule 10b-5 promulgated thereunder. The
complaint alleges that defendants issued a series of materially false and misleading statements
concerning Tyco's financial condition and future growth prospects. Specifically, the complaint
charges that defendants had taken ''accounting baths'' related to certain acquisitions in order to
improve future period operating results. Prior to the disclosure of the adverse facts described
above, certain insiders sold over 1.5 million shares of Tyco to the investing public at artificially
inflated prices. These sellers realized over $170 million in proceeds from these insider trading
activities.
Plaintiff seeks to recover damages on behalf of Class members and is represented by the law firm
of Entwistle & Cappucci LLP, which has significant experience in both prosecuting and defending
complex business, securities and antitrust actions on behalf of individuals, corporations, government
entities and other institutions. Entwistle & Cappucci's attorneys have personally handled cases
resulting in significant recoveries to defrauded investors. The firm currently serves as Lead Counsel
and/or as a member of the plaintiff's Executive Committee in many high profile securities class
actions now pending throughout the country. Entwistle & Cappucci's work in representing financial
institutions, venture capital, and asset management funds in a variety of complex commercial
disputes and transactions, further positions it to bring a unique perspective to the prosecution of
complex litigation.
If you purchased Tyco common stock during the Class Period, December 10, 1998 through
December 8, 1999, you may move the Court to serve as a lead plaintiff no later than February 7,
2000, 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, wish to participate in the action as a class representative, or have
any questions concerning this notice, or your rights or interests with respect to this matter, please
contact plaintiff's counsel, Vincent R. Cappucci, Esq. of Entwistle & Cappucci LLP, 400 Park
Avenue, 16th Floor, New York, New York 10022 (Telephone: 212-894-7200; E-mail:
mboyle@entwistle-law.com).
SOURCE: Entwistle & Cappucci LLP
biz.yahoo.com
Don't get excited, people, the only winner is going to be this firm.
Lynn
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