A securities class-action lawsuit has been filed on behalf of purchasers of the common stock of Lucent Technologies Inc., between Oct. 27, 1999 and Jan. 6, 2000, inclusive, in the United States District Court for the District of New Jersey. The complaint charges Lucent and certain directors and executive officers with violations of the Securities Exchange Act of 1934.
The complaint alleges that the defendants issued materially false and misleading information and failed to disclose material information concerning the company’s deteriorating financial condition, the lack of demand for the company’s products, its inability to control costs and maintain profit margins, and the effects these adverse undisclosed conditions would ultimately have on the company’s operations, liquidity and stock price. Lucent is a worldwide provider of electronic communications.
