Ascend Communications (ASND) Message Board

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Technology Stocks : Ascend Communications (ASND)

ASND 212.55

+1.2%

12:59 PM EST

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To: Pierre Aydin who wrote (26401)	12/5/1997 3:09:00 PM
From: Gary Korn	Read Replies (5) of 61433

This is interesting. ASND found the time to issue a statement, today, saying that the shareholder action against it was baseless: DEC 5, 1997, M2 Communications - 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 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." It has not yet found the time to issue a formal response/denial to the takeover rumors. Gary Korn

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