I received in the mail, a form to complete, to establish myself as a class member in a class lawsuit against NN for the period of March 28, 1994 and August 1, 1994 for damages caused by what lawyers claim to be false and misleading statements by the company causing the stock to collapse from $55 to 28 5/8 on August 1, 1994.
The claim is to come before the court on Oct 6, 1998, or thereabouts. The company is settling (from my understanding)without claiming responsibility of the damage claims.
If you believe you are a member of this "claimant class", you may contact, by writing:
Claims Administrator
re: Newbridge Networks Securities Litigation
P.O. Box 5100
Larkspur, California 94977-5100
Settlement is to be 50% of losses,(the difference of purchase price and sale price)plus interest,if sold during that period.
OR
100% of losses,(the difference of purchase price and 28 5/8), if retained past August 1, 1994, plus interest.
I remember 4,500,000 being in escrow for this settlement.
Len |
