Zeev's Turnips - No Politics Message Board

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Strategies & Market Trends : Zeev's Turnips - No Politics

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To: Pierre who wrote (29647)	2/12/2002 3:15:35 PM
From: Softechie	Read Replies (1) of 99280

A purported class-action lawsuit has been filed against Nortel Networks (NT), charging that the company improperly induced participants in a company retirement plan to buy company stock. The suit charges that Nortel engaged in "material misrepresentations and omissions" to persuade participants in the Nortel Networks Long-Term Investment Plan to buy and keep company stock. The lawsuit, filed under the Employee Retirement Income Security Act, seeks "plan-wide" relief and seeks an unspecified amount of damages. Nortel said it "intends to vigorously defend this lawsuit."

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