Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : COMS & the Ghost of USRX w/ other STUFF -- Ignore unavailable to you. Want to Upgrade?

To: Scrapps who wrote (10170)	12/4/1997 1:34:00 PM
From: Moonray	Respond to of 22053

Notice of Pendency of Class Action 01:07 p.m Dec 04, 1997 Eastern NEW YORK--(BUSINESS WIRE)--Dec. 4, 1997--Pursuant to 15 U.S.C. 78u-4(a) (3)(A)(I), notice is hereby given that on Dec. 2, 1997, a class action lawsuit was filed in the United States District Court for the Northern District of Illinois on behalf of all persons who purchased the common stock of 3Com Corporation ("3Com" or the "Company"), between May 19, 1997, and November 6, 1997, inclusive (the "Class Period"). The complaint asserts claims arising under Sections 10(b), 20(a) and 20A of the Securities Exchange Act of 1934. Specifically, the complaint alleges that defendants knowingly or recklessly caused 3Com to issue materially false and misleading statements in various press releases, public statements, and filings with the Securities and Exchange Commission regarding market demand for and acceptance of its modems, despite the fact that the Company essentially stopped shipping its modems in April, 1997, and has not resumed shipping modems due to excessive inventory of modems in its distribution channels since its merger with U.S. Robotics in June, 1997. The Complaint further alleges that the individual defendants, who were top officers and/or directors of 3Com, sold millions of shares of 3Com common stock, valued in excess of $190 million, during the Class Period at prices ranging from $47 to $54 per share, with knowledge that the Company's publicly disseminated statements regarding modem sales were materially false and misleading. If you are a member of the Class described above, you may, not later than 60 days from Dec. 3, 1997, move the Court to serve as lead plaintiff for the class, if you so choose. In order to serve as lead plaintiff, however, you must meet certain legal requirements. Plaintiff is represented by the law firm of Bernstein Litowitz Berger & Grossmann LLP, which has extensive experience in prosecuting class actions on behalf of defrauded investors. If you wish to discuss this Action or have any questions concerning this notice or your rights or interests, please contact Vincent R. Cappucci, a member of the firm, at 800/380-8496 or 212/554-1400. (See also: businesswire.com) o~~~ O