Debt Security Holders v Lucent Technologies, Inc.
Debt Security Holders and Lucent Technologies Agree to Settle Securities Fraud Action for $3.75 Million
The parties have reached a tentative $3.75 million settlement of several class actions filed against technology company Lucent Technologies, Inc. (NYSE:LU) and certain of its officers and directors by security holders who purchased the following debt securities: (1) 6.9% notes due July 15, 2001; (2) 7.25% notes due July 15, 2006; (3) 6.5% debenture due January 15, 2028; (4) 5.5% notes due November 15, 2008; and (5) 6.45% Debentures due March 15, 2029, during the period from December 20, 2000 through March 27, 2001. The actions claim that the defendants violated federal securities laws by issuing a series of material misrepresentations to the market over this time period, thereby artificially inflating the price of the company's securities. To recover under the settlement, a completed proof of claim postmarked no later than March 31, 2004, must be mailed to the claims administrator.
If you have not received a full printed notice explaining the settlement and claim form, you may request one by writing:
In re Laufer v. Lucent Technologies, Inc. Debt Securities Purchasers Litigation
The Garden City Group
P.O. Box 360720
Columbus, OH 43236
Or calling (866) 774-7459.
The settlement will not be effective until the court grants it final approval. The court has scheduled a hearing on the matter for December 12, 2003.
