Scott + Scott, LLC Announces Class Action Lawsuit Against ADC Telecommunications, Inc.Business Editors/Legal Writers COLCHESTER, Conn.--(BUSINESS WIRE)--June 4, 2003 Scott + Scott, LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control States Participant Employees In ADC Telecommunications Retirement Plan File Class Action Scott + Scott, LLC (www.scott-scott.com) announces that a class action has been filed in the United States District Court for the District of Minnesota The United States District Court for the District of Minnesota is the Federal district court whose jurisdiction is the state of Minnesota. It was established by an act of Congress on March 17, 1849. on behalf of employees and former employees who participated in ADC Telecommunications, Inc.'s ("ADCT ADCT Adaptive Discrete Cosine Transform " or the "Company")(NasdaqNM:ADCT) 401(k) retirement plan from November 2, 2000 to the present day. The complaint charges ADCT and certain of its officers for breach of fiduciary duty and violations of the Employee Retirement Income Security Act The Employee Retirement Income Security Act of 1974 (ERISA), 29 U.S.C.A. § 1001 et seq. (1974), is a federal law that sets minimum standards for most voluntarily established Pension and health plans in private industry to provide protection for individuals enrolled in these plans. of 1974 ("ERISA See Employee Retirement Income Security Act. ERISA See Employee Retirement Income Security Act (ERISA). "). The complaint further alleges that the defendants failed to manage the plan appropriately, failed to adequately monitor and review the performance and suitability of investment options, failed to provide timely, accurate and complete information regarding the present and future prospects of the Company; and exerted undue influence on ADCT plan participants Plan participants Employees or other beneficiaries who are eligible to receive benefits from a company's employee benefit plan. to buy Company stock within the plan. If you are a present or former participant in the ADCT 401(k) plan and would like to have a copy of the complaint, or further information, please email attorney Neil Rothstein (nrothstein@scott-scott.com)or call Scott + Scott, LLC at (800) 404-7770. Scott + Scott, LLC is a Connecticut-based law firm engaged in the representation of funds, foundations, endowments, institutions, pension funds, individuals and other entities throughout the world in securities, antitrust and other complex class and non-class action litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. . The firm is committed to client satisfaction and communication. The firm's attorneys litigate in both state and federal courts throughout the nation. The firm has been appointed lead counsel on cases nationwide, including the ongoing Imclone Securities Litigation. Scott + Scott, LLC issues this release in accordance with the applicable federal securities laws. If you wish to discuss this action, have any questions concerning this notice, your rights with respect to this matter, any other securities fraud matter or any security purchase that concerns you, please contact David R. Scott, Esq., drscott@scott-scott.com or Neil Rothstein, Esq., nrothstein@scott-scott.com, Scott + Scott, LLC, 108 Norwich Avenue, Colchester, Connecticut 06415 at 800/404-7770. Fax: 860/537-4432. |
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