NEW YORK, Oct. 31, 2002 (PRIMEZONE) -- Pomerantz Haudek Block Grossman & Gross LLP (www.pomerantzlaw.com) has filed a class action lawsuit in the United States District Court for the Southern District of New York against Credit Suisse First Boston Corporation ("CSFB") and Elliott Rogers ("Rogers"), a Managing Director and Senior Analyst in the Global Technology Group of CSFB, on behalf of investors who purchased the common stock of Agilent Technologies, Inc. ("Agilent" or the "Company") (NYSE:A) during the period from December 13, 1999 through September 9, 2002, inclusive (the "Class Period"). The lawsuit charges that defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 by issuing false and misleading analyst reports on Agilent in a bid to win or maintain lucrative banking and advisory work from the Company.
The complaint alleges that CSFB issued analyst reports regarding Agilent, a maker of testing and measurement equipment, that recommended the purchase of Agilent common stock. However, such analyst reports were false and misleading because they conflicted with defendants' privately expressed doubts and failed to disclose that defendants' coverage and ratings of Agilent were not independent and objective, but instead were biased and a marketing tool for CSFB to maintain and enhance its investment banking business with Agilent. Throughout the Class Period, CSFB maintained "Buy" or "Hold" recommendations on Agilent in order to obtain and support lucrative financial deals for CSFB. As a result of CSFB's false and misleading analyst reports, Agilent common stock traded at artificially inflated levels during the class period.
On October 21, 2002, the Commonwealth issued a press release announcing that it had charged CSFB with violating the Massachusetts Securities Act by issuing false and misleading analyst reports on numerous companies. The Commonwealth complaint describes the influence and control exerted by CSFB's investment bankers on its supposedly independent research analysts and seeks to order CSFB to separate its investment banking and research departments and to impose a nearly $2 million fine.
If you purchased the common stock of Agilent during the Class Period, you have until December 16, 2002 to ask the Court to appoint you as lead plaintiff for the Class. To serve as lead plaintiff, you must meet certain legal requirements. If you wish to review a copy of the Complaint, to discuss this action or have any questions, please contact Andrew G. Tolan, Esq. of the Pomerantz firm at 888-476-6529 (or (888) 4-POMLAW), toll free, or at agtolan@pomlaw.com by e-mail. Those who inquire by e-mail are encouraged to include their mailing address and telephone number.
The Pomerantz firm, which has offices in New York and Chicago, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class action litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz firm pioneered the field of securities class actions. Today, more than 50 years later, the Pomerantz firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca