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Ascend Communications, Inc. Issues Response to Class Action Suit
Business Wire - December 04, 1997 08:00
%ASCEND-COMMUNICATIONS ASND %CALIFORNIA %COMPUTERS %ELECTRONICS %COMED %TELECOMMUNICATIONS V%BW P%BW
ALAMEDA, Calif.--(BUSINESS WIRE)--Dec. 4, 1997--Ascend Communications, Inc. (NASDAQ:ASND) today issued a statement regarding a class action complaint filed on December 2, 1997 in the United States District Court for the Central District of California. The complaint alleges certain violations of the federal securities laws by the Company and certain of its directors and officers, who are named as defendants in the suit, arising from alleged misstatements or omissions by the Company. The suit was filed as a class action on behalf of four named plaintiffs and others are purportedly similarly situated.
Ascend Communications' President and CEO, Mory Ejabat, stated, "We believe the allegations in the complaint are completely without merit and we intend to defend this action vigorously."
About Ascend Communications
Ascend Communications, Inc. develops, manufactures and sells wide area networking solutions for telecommunications carriers, Internet service providers and corporate customers worldwide. For more information about Ascend and its products, please visit the Ascend web site at www.ascend.com , or e-mail info@ascend.com .
Ascend is headquartered at One Ascend Plaza, 1701 Harbor Bay Parkway, Alameda, Calif., 94502. Phone (800) ASCEND4; Fax (510) 747-2300.
CONTACT: Ascend Communications, Inc.
PR
Eric Warren, 510/747-6683
eric.warren@ascend.com
or
Investor Relations
Kristina Graziano, 510/747-2345
kristina.graziano@ascend.com
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