Enjoy, Joe Shaw - jshaw@insync.net NetAdmin - Insync Internet Services Learn more, and you will never starve. Reuters New Media [ Yahoo | Write Us | Search | Info ] Wednesday December 3 3:02 PM EST Ascend Communications Named in Class Action NEW YORK (Reuters) - Lawyers representing plaintiffs against Ascend Communications Inc said Wednesday they are filing for class action status, alleging deceptive price inflation of the computer networking company's stock. The filing for class action status in the U.S. District Court, Central District of California, covers investors who bought Ascend's stock between November 5, 1996 and September 30, 1997. The complaint, filed by the law firms Weiss & Yourman and Stull Stull & Brody, alleges that officers and some directors of Ascend, "engaged in an illegal scheme and deceptive course of conduct designed to inflation Ascend's stock price through positive statements concerning Ascend's business, earnings and its growth prospects." The complaint said the alleged positive statements were made at the same time the "defendants knew, or recklessly disregarded, but failed to disclose to investors, that sales of Ascend's advanced modem products would all but cease because of, among other things, serious software and firmware problems." The complaint also charges that the defendants' alleged "course of conduct allowed Ascend to consummate a merger transaction during the class period with Cascade Communications by exchanging overvalued Ascend stock for the stock of Cascade. " That transaction was completed on June 30. Ascend Communications, based in Alameda, Calif., was not presently available for comment. ++ Ascend Users Mailing List ++ To unsubscribe: send unsubscribe to ascend-users-request@bungi.com To get FAQ'd: <<A HREF="http://www.nealis.net/ascend/faq">http://www.nealis.net/ascend/faq</A>> </PRE> <!--X-MsgBody-End--> <!--X-Follow-Ups--> <!--X-Follow-Ups-End--> <!--X-References--> <!--X-References-End--> <!--X-BotPNI--> <HR> <UL> <LI>Prev by Date: <STRONG><A HREF="msg11423.html">Re: (ASCEND) Land Attack on max's</A></STRONG> </LI> <LI>Next by Date: <STRONG><A HREF="msg11420.html">Re: (ASCEND) 5.0Ap36, is this normal?</A></STRONG> </LI> <LI>Prev by thread: <STRONG><A HREF="msg11458.html">Re: (ASCEND) Users getting immediately disconnected</A></STRONG> </LI> <LI>Next by thread: <STRONG><A HREF="msg11424.html">(ASCEND) New P75:s available in Sweden?</A></STRONG> </LI> <LI>Index(es): <UL> <LI><A HREF="mail2.html#11421"><STRONG>Main</STRONG></A></LI> <LI><A HREF="thrd267.html#11421"><STRONG>Thread</STRONG></A></LI> </UL> </LI> </UL> <!--X-BotPNI-End--> <!--X-User-Footer--> <!--X-User-Footer-End--> </BODY> </HTML>