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 : Alcatel (ALA) and France -- Ignore unavailable to you. Want to Upgrade?

To: Steve Fancy who wrote (52)	10/1/1998 11:50:00 AM
From: Steve Fancy	Respond to of 3891

Notice of Pendency of Class Action against Alcatel S.A. on Behalf of Former Shareholders of DSC Communications Corporation. BusinessWire, Thursday, October 01, 1998 at 11:42 NEW YORK--(BUSINESS WIRE)--Oct. 1, 1998--Wolf Haldenstein Adler Freeman & Herz LLP filed a class action lawsuit on September 29, 1998, in the United States District Court for the Southern District of New York on behalf of all individuals and entities whose shares of common stock of DSC Communications Corporation ("DSC") were exchanged for American Depository Receipts ("ADRs") of Alcatel S.A. (NYSE:ALA) ("Alcatel" or the "Company") in connection with Alcatel's acquisition of DSC on September 7, 1998 (the "Merger"), and who were damaged thereby. If you wish to discuss this action please contact Wolf Haldenstein Adler Freeman & Herz LLP (Michael Miske or David A.P. Brower, Esq.) at 800/575-0735 or visit their website at www.whafh.com. The complaint charges Alcatel and certain of its officers and directors with violations of Sections 11, 12(2) and 15 of the Securities Exchange Act of 1933, and of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 for, among other things, making public statements and issuing a registration statement and proxy statement/prospectus in connection with the Merger containing false and misleading representations regarding the Company's financial condition and future prospects. The false and misleading representations artificially inflated the value of Alcatel's ADRs which Alcatel used to purchase DSC. On September 17, 1998, less than two weeks after the consummation of the Merger, Alcatel announced that it would fail to meet analysts' 1998 earning projections by $260 million due to curbs in spending in the European, Asian, and Russian markets. Alcatel ADRs fell over 37% in value on the day of the belated announcement. Former DSC shareholders were damaged as the value of their Alcatel ADRs fell to less than the value of the DCS stock prior to the announcement of the Merger, despite the payment of an 80% premium for their shares. Plaintiff is represented by the law firm of Wolf Haldenstein Adler Freeman & Herz LLP. The Wolf Haldenstein firm has a full service commercial practice consisting of more than 35 attorneys based in New York City and San Diego. The firm's litigation department has been recognized by courts throughout the country as highly experienced and skilled in complex litigation, particularly with respect to federal securities laws, class actions and shareholder litigation. The firm's qualifications have repeatedly received very favorable judicial recognition. Additionally, the firm has achieved recoveries of over one billion dollars for defrauded investors and shareholders. If you are a member of the class described above, you may, not later than 60 (sixty) days from September 18, 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 or interests with respect to these matters, please contact Wolf Haldenstein Adler Freeman & Herz LLP at 270 Madison Avenue, New York, New York 10016, by telephone at 800/575-0735 (Michael Miske or David A.P. Brower, Esq.) or via e-mail at classmember@whafh.com or visit their website at www.whafh.com.. All e-mail correspondence should make reference to Alcatel or DSC. CONTACT: Wolf Haldenstein Adler Freeman & Herz LLP Michael Miske or David A.P. Brower, Esq., 800/575-0735 KEYWORD: NEW YORK INDUSTRY KEYWORD: COMED COMPUTERS/ELECTRONICS Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com Copyright 1998, Business Wire