Cauley & Geller, LLP Announces Class Action Lawsuit Against Deutsche Telekom AG.Business Editors & Legal Writers BOCA RATON Boca Raton (bō`kə rətōn`), city (1990 pop. 61,492), Palm Beach co., SE Fla., on the Atlantic; inc. 1925. Boca Raton is a popular resort and retirement community that experienced significant industrial development in the 1970s and 80s. , Fla.--(BUSINESS WIRE)--Dec. 18, 2000 The Law Firm of Cauley & Geller, LLP LLP - Lower Layer Protocol announced today that it has filed a class action in the United States District Court United States District Court In the U.S., any of the 94 trial courts of general jurisdiction in the federal judicial system. Each state, as well as the District of Columbia and the Commonwealth of Puerto Rico, has at least one federal district court. for the Southern District of New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of on behalf of all individuals and institutional investors that purchased Ordinary Shares of Deutsche Telekom Deutsche Telekom AG (ISIN: DE0005557508, FWB: DTE, NYSE: DT, LSE: DEU, TYO: 9496 ) (abbreviated DTAG) is a telecommunications company headquartered in Bonn, Germany. It is the largest telecommunications company in Germany and in the EU. AG ("Deutsche Telekom" or the "Company") (NYSE NYSE See: New York Stock Exchange :DT) stock, in the form of shares of American Depository Shares ("ADSs"), pursuant to a Registration Statement filed with the SEC on or about May 22, 2000 (the "Registration"), and pursuant to a Prospectus dated June 17, 2000 (the "Prospectus"), or who acquired ADSs in the aftermarket Aftermarket See: Secondary market. aftermarket See secondary market. . The complaint charges that the Company and certain of its officers and directors violated the federal securities laws by failing to provide material information in the Registration and Prospectus. This material information included, among others things, that (a) by the effective date of the offering on June 17, 2000, the Company was in the very advanced stages of merger negotiations with VoiceStream, a telecommunications start up company with just 2.3 million subscribers and (b) during the year 2000, up until the effective date of the stock offering, Deutsche Telekom's profits had been significantly negatively impacted by increasing costs incurred in competing for mobile phone customers. The complaint alleges that on or about July 24, 2000, Deutsche Telekom publicly announced its planned $50.7 billion takeover of Voicestream. On news of the announcement, the Company's shares declined almost seven points to $44 3/4 per share. On July 28, 2000, Deutsche Telekom announced a 26 percent fall in profits for the first half of the year and attributed the decline, in part, to the cost of competing for mobile phone customers. Cauley & Geller, LLP has substantial experience representing investors in securities fraud class action lawsuits class action lawsuit A lawsuit in which one party or a limited number of parties sue on behalf of a larger group to which the parties belong. For example, investors may bring a class action lawsuit against a brokerage firm that has actively promoted a tax such as this. The firm has offices in Florida, Arkansas and California, but represents shareholders from throughout the nation. If you have any questions about how you may be able to recover for your losses, or if you would like to consider serving as one of the lead plaintiffs in this lawsuit, you must meet certain requirements and take appropriate action by February 12, 2001. You are encouraged to call or e-mail the Firm or visit the Firm's website at www.classlawyer.com. |
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