To: OldAIMGuy who wrote (3567 ) 12/15/1997 3:00:00 PM From: Linda Kaplan Read Replies (1) | Respond to of 18929
Headline: KAUFMAN MALCHMAN KIRBY & SQUIRE LLP - Class Action Commenced By Kaufman Malchman Kirby & Squire Llp [602] ====================================================================== To all persons or institutions who purchase Common Stock of Ascend Communications, Inc. between July 29, 1997 and September 29, 1997 you are hereby notified that on December 12, 1997, a class action lawsuit was filed in the U.S. District Court for the Southern District of California on behalf of all purchasers of Ascend Communications, Inc. September 29, 1997, inclusive (the "Class Period"). The Complaint asserts claims under the federal securities laws, including claims for violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934. Plaintiff seeks to recover losses suffered by investors who bought Ascend securities. The lawsuit alleges that Ascend and certain of its officers and directors engaged in a course of conduct that was designed to and did deceive the investing public and artificially inflate the market price of Ascend's stock during the Class Period, by issuing misleading statements or concealing information concerning flaws in certain Ascend products. During the Class Period defendants represented publicly that previously disclosed product flaws had been rectified. Ascend shares traded as high as $55 during the Class Period. At the close of the Class Period, when outside sources revealed that Ascend's product flaws persisted, the Company's stock price plummeted to $32.375 per share. In the weeks that followed, as more information concerning these problems was revealed, the Company's stock price fell further to under $23 per share. Plaintiff seeks to recover damages on behalf of himself and all other purchasers of Ascend common stock during the Class Period, excluding the defendants and their affiliates. Plaintiff is represented by, among other firms, Kaufman Malchman Kirby & Squire, LLP. Kaufman Malchman has specialized in complex litigation, including securities and consumer class actions, for more than half a century. The firm has repeatedly demonstrated its expertise in this field, and has been repeatedly recognized by various courts which have appointed the firm to major positions in consolidated and multi-district litigation. The firm's achievements and quality of service have been chronicled in published decisions, and the firm's efforts have been responsible for significant recoveries, or injunctive relief, for its clients and class members. If you are a member of the Class described above, you may, not later than February 10, 1998, move the Court to serve as lead plaintiff of the class, if you so choose. In order to serve as lead plaintiff, however, you must meet certain legal requirements. If you wish to discuss this action, or have any questions concerning this notice or your rights, please contact: Jeffrey H. Squire, Esq. Ira M. Press, Esq. KAUFMAN MALCHMAN KIRBY & SQUIRE, LLP 919 Third Avenue 11th Floor New York, New York 10022 212-371-6600 or toll free, 888-529-4787 kmkslaw@aol.com (e-mail address) TEL: Jeffrey H. Squire, Esq., or Ira M. Press, Esq. of Kaufman Malchman Kir by & Squire, LLP, 212-371-6600, 888-529-4787, or kmkslaw@aol.com