I think this is a new one...
Milberg Weiss Announces Class Action Against Alcatel Alsthom
BusinessWire, Wednesday, September 23, 1998 at 00:21
(Published on Tuesday, September 22, 1998 at 00:03)
NEW YORK--(BUSINESS WIRE)--Sept. 23, 1998--Notice is hereby given
that a class action lawsuit was filed on September 18, 1998, on behalf
all persons who exchanged their DSC Communications Inc. (NASDAQ:DIGI)
stock for the American Depository Receipts (the "ADRs") of Alcatel
Alsthom (NYSE:ALA) ("Alcatel" or the "Company") pursuant to a
registration statement (the "Registration Statement") and proxy
statement/prospectus issued on or about July 28, 1998, in connection
with the acquistion of DSC by Alcatel.
The complaint alleges that the Registration Statement was
materially false and misleading because it failed to disclose that
Alcatel was suffering a significant decline in its business and that
the decline was so severe that it would negatively impact its business
for the balance of 1998.
Then, on September 17, 1998, as the complaint alleges, only nine
days after the close of the merger and a mere six weeks since the
dissemination of the Registration Statement, Alcatel shocked the
market by announcing that it would miss analysts' earnings projections
by a staggering $260 million as its European clients curb spending. In
response to this announcement, the market price of Alcatel's ADRs
plunged by almost 50%.
Plaintiffs are represented by the law firm of Milberg Weiss
Bershad Hynes & Lerach LLP ("Milberg Weiss"), among others. Milberg
Weiss has significant experience and expertise prosecuting class
actions on behalf of investors and shareholders. Milberg Weiss
maintains offices in New York City, San Diego, Los Angeles and San
Francisco and is active in major litigations pending in federal and
state courts throughout the United States. Milberg Weiss has taken a
leading role in numerous important actions on behalf of defrauded
investors, and is responsible for a number of outstanding recoveries
which, in the aggregate, total approximately $2 billion. For
additional information about Milberg Weiss, see the firm's website at
milberg.com.
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 Milberg Weiss (Steven G. Schulman or
Samuel H. Rudman) at One Pennsylvania Plaza, 49th Floor, New York, New
York 10119-0165 (Internet electronic mail: classact@microweb.com.).
CONTACT: Milberg Weiss Bershad Hynes & Lerach LLP
Shareholder Relations Dept.
E-Mail: classact@microweb.com.
1-800-320-5081
KEYWORD: NEW YORK
INDUSTRY KEYWORD: TELECOMMUNICATIONS
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