John T. Bennett Law Offices, Ltd. Announces Class Action Lawsuit Against Lucent Technologies, Inc.Business Editors & Legal WritersMARKSVILLE, La.--(BUSINESS WIRE)--Dec. 8, 2000 The following notice is issued by the Law Firm of John T. Bennett Law The Bennett Law was a highly controversial state law passed in Wisconsin in 1889, that required the use of English in most schools. It affected the state's German-language private schools (and Norwegian schools), and was bitterly resented by German American communities. Offices, Ltd. on behalf of its client, who filed a class action lawsuit 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 on December 1, 2000 in the Civil District Court for the Parish of Orleans, New Orleans New Orleans (ôr`lēənz –lənz, ôrlēnz`), city (2006 pop. 187,525), coextensive with Orleans parish, SE La., between the Mississippi River and Lake Pontchartrain, 107 mi (172 km) by water from the river mouth; founded , bearing docket number 2000-18352 on behalf of purchasers of Lucent Technologies, Inc. during the period between October 10, 2000 and November 21, 2000, (when Lucent disclosed that its previously released fourth quarter 2000 revenues and earnings per share guidance would be reduced by $125 million and 2 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. , respectively due to a "revenue recognition issue." The complaint alleges that the Company knew of or recklessly disregarded the fact that public documents and statements issued or disseminated in the name of the Company were materially false and misleading. It knew or recklessly disregarded that such statements or documents would be issued or disseminated to the investing public and they substantially participated or acquiesced in the issuance or dissemination of such statements or documents in violation of the Federal Securities laws. Defendant, by virtue of its receipt of information reflecting the true facts regarding Lucent, its control over, and/or receipt and/or modification of Lucent's materially misleading misstatements and/or their associations with and within the Company made it privy One who has a direct, successive relationship to another individual; a coparticipant; one who has an interest in a matter; private. Privy refers to a person in privity with another—that is, someone involved in a particular transaction that results in a union, to confidential proprietary information concerning Lucent, and enabled it to participate in the alleged fraudulent scheme Noun 1. fraudulent scheme - an illegal enterprise (such as extortion or fraud or drug peddling or prostitution) carried on for profit illegitimate enterprise, racket . The complaint alleges that during the pendency Pend´en`cy n. 1. The quality or state of being pendent or suspended. 2. The quality or state of being undecided, or in continuance; suspense; as, the pendency of a suit s>. of the Company's undisclosed accounting problems, defendant caused the Company to issue favorable statements with respect to the Company. These statements were squarely contradicted by both internal evidence which should have been known to the defendant during the Class Period, and the later admissions about known events existing at the time these statements were made. The complaint alleges that misrepresentations and inaccurate statements caused all purchasers of Lucent's common stock during the Class Period to purchase Lucent's common stock at artificially inflated prices. Plaintiff's counsel-John T. Bennett Law Offices, Ltd.-has over 125 years of legal experience. If you purchased shares of Lucent Technologies, Inc. during the Class Period, you may move the Court no later than January 21, 2001 to act as lead plaintiff for the class. To serve as lead plaintiff, you must meet certain legal standards. Please contact our firm if you have any questions about this action, please contact either of the following: John T. Bennett, Esq. or Candyce C. Gagnard, John T. Bennett Law Offices, Ltd., Post Office Box 275, Marksville, Louisiana The city of Marksville is the parish seat of Avoyelles Parish, in the US state of Louisiana. The population was 5,537 at the 2000 census. Louisiana's first land based casino, Paragon Casino Resort, opened in Marksville in June of 1994. It is run by the Tunica-Biloxi tribe. 71351 - phone number 318/253-4631 or toll free at 1-800-824-7092, e-mail address See Internet address. e-mail address - electronic mail address : classaction@kricket.net |
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