FOX & KILSHEIMER LLP ANNOUNCES CLASS ACTION SUIT AGAINST LUCENT
TECHNOLOGIES, INC. AND CERTAIN OF ITS OFFICERS
NEW YORK -- January 14, 2000/Counsel for Class Plaintiff, Kaplan Fox & Kilsheimer LLP today
issued the following:
A class action has been commenced in the United States District Court for the District of New Jersey on behalf of all persons who purchased or otherwise acquired the common stock of Lucent
Technologies, Inc. (NYSE: LU - news; "Lucent" or the "Company") between October 27, 1999 and January 6, 2000, inclusive (the "Class Period").
The lawsuit alleges that
during the Class Period, Lucent led the market to believe that its plan to restructure its operations into four divisions would produce consistently more profitable results. Based significantly on guidance
provided by the Company, the price of Lucent stock continued to rise throughout the Class Period, reaching a high of over $84.00 per share on December 9, 1999. Then, on January 6, 2000, Lucent revealed that
results for the first fiscal quarter of 2000 would fall materially below analysts' expectations. This revelation caused the price of Lucent common stock to fall to $52.19, a decline of 38% from its Class Period
Plaintiff seeks to recover damages on behalf of all persons who purchased or otherwise acquired Lucent common stock during the Class Period. Plaintiff is represented by the law firm of
Kaplan Fox & Kilsheimer LLP, which has many years of experience in prosecuting investor class actions and extensive experience in actions involving financial reporting and management fraud. For more
information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.KaplanFox.com.
If you are a member of the Class described above, you may, no later than March 7, 2000, move the Court to
serve as lead plaintiff of the Class. 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 case
or your rights or interests, please contact:
Frederic S. Fox, Esq.
Adrienne L. Valencia, Esq.
Hae Sung Nam, Esq.
Donald R. Hall, Esq.
Kaplan Fox & Kilsheimer LLP
Fax: (212) 687-7714
E-mail address: mail@KaplanFox.com
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