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Technology Stocks : Nortel Networks (NT) -- Ignore unavailable to you. Want to Upgrade?

To: larry pollock who wrote (10241)	3/13/2001 2:33:21 PM
From: larry pollock	Respond to of 14638

Chief Operating Officer of Nortel Networks Takes Medical Leave of Absence Following Surgery TORONTO--(BUSINESS WIRE)--March 13, 2001--John A. Roth, president and chief executive officer, Nortel Networks Corporation (NYSE:NT - news; TSE:NT. - news), today announced that Clarence J. Chandran, chief operating officer, Nortel Networks, has decided on his doctor's advice to take a six to 12-month medical leave of absence. Chandran has had surgery twice in the past few months to address complications arising from an incident in June 1997 in Singapore in which he was seriously injured in a stabbing attack. Chandran has been advised to take a medical leave of absence to recuperate fully from his recent surgeries. ``While we will miss Clarence greatly during the medical leave, we fully support this decision,'' Roth said. ``I would like to extend on behalf of all of us at Nortel Networks our best wishes for his speedy recovery.'' Roth will be assuming Chandran's day-to-day responsibilities during his recuperation. Chandran was appointed chief operating officer of Nortel Networks in June 2000. As is indicated in the proxy circular and proxy statement for the April 26, 2001 annual and special meeting of shareholders to be held in Calgary that Nortel Networks has commenced mailing to its shareholders today and is filing with securities regulators, Chandran has also been nominated by the Board of Directors of Nortel Networks for election as a Director for the first time at the April 26, 2001 shareholders' meeting. ``At this time, we expect that Clarence would be able to serve as a Director of the Corporation if elected at the meeting and that Clarence will continue to stand as a nominee for election to the Board of Directors,'' Roth said. Nortel Networks is a global Internet and communications leader with capabilities spanning Optical, Wireless, Local, Personal Internet and eBusiness. The Company had 2000 U.S. GAAP revenues of US$30.3 billion and serves carrier, service provider and enterprise customers globally. Today, Nortel Networks is creating a high-performance Internet that is more reliable and faster than ever before. It is redefining the economics and quality of networking and the Internet, promising a new era of collaboration, communications and commerce. Visit us at www.nortelnetworks.com. Nortel Networks, the Nortel Networks logo and the Globemark are trademarks of Nortel Networks. -------------------------------------------------------------------------------- Contact: Nortel Networks Tina Warren, 905/863-4702 tinawarr@nortelnetworks.com

To: larry pollock who wrote (10241)	3/13/2001 2:38:12 PM
From: Bosco	Read Replies (2) \| Respond to of 14638

Hi larry - to be clear, generally I think many of these suits are fivolous. But you are right, the cost to mount a defense probably will be absorbed by the co, unless there is a way to countersue [I ve not heard that is possible in class action suits though.] I think FRX did reclaim its cost from ABT [?] but it is not class action stuff CSCO vs NT. CSCO has been guiding down its estimates with ambiguous language. OTOH, NT was still bullish 5 weeks before the bomb. As I ve said that to Ken and others, legally, maybe it is defensible, but the ambulance chasers [I don't mean you, Ken <g>] have a better case. Ultimately, if the insurance cos [& NT] figure it is cheaper to settle out of court, it is the cost of doing business, I guess best, Bosco

To: larry pollock who wrote (10241)	3/13/2001 7:51:02 PM
From: David F.	Respond to of 14638

cisco has nothing better than nortel...........

To: larry pollock who wrote (10241)	3/14/2001 4:01:13 AM
From: Ira Vine	Respond to of 14638

I've said it before, but I'll repeat it again. If you look at the class action lawsuit sites you'll find that the number of major companies that have lost such a suit is zero (http://securities.stanford.edu/index.html). Only a few small companies in financial distress ever settle to avoid the costs. While a few years ago a few of the suits were successful, the courts seem to have realized that potentially every company in the world would be liable. For instance, some 400 companies pre-announced this quarter (eight times last year). I don't believe judges want them all dragged into court and measured against some standard of whether they were cautious enough. The other thing to note is that even in those cases which do go forward it is years before they even get past the initial stages of the case. There are plenty of things to worry about in relation to Nortel, but I don't think this is one of them.