BALA CYNWYD, Pa., Jan. 13, 2003 (PRIMEZONE) -- Law offices of Brodsky & Smith, L.L.C. today announces that a securities class action lawsuit has been commenced on behalf of shareholders who acquired Cable & Wireless (NYSE:CWP) securities between August 6, 1999 and December 6, 2002, inclusive (the "Class Period").
The case is pending in the United States District Court for the Eastern District of Virginia, against the company and some of its officers and directors.
The action charges that defendants violated the federal securities laws by issuing a series of materially false and misleading statements to the market throughout the Class Period which statements had the effect of artificially inflating the market price of the Company's securities.
No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased the stock listed above during the class period, you have certain rights. To be a member of the class you need not take any action at this time, and you may retain counsel of your choice.
If you were a purchaser of this stock during the period indicated and want to discuss your legal rights, you may e-mail or call the law office of Brodsky & Smith, L.L.C. who will, without obligation or cost to you, attempt to answer your questions. You may contact Evan J. Smith, Esquire or Marc L. Ackerman, Esquire at Brodsky & Smith, L.L.C., Two Bala Plaza, Suite 602, Bala Cynwyd, PA 19004, by e-mail at esmith@brodsky-smith.com or mackerman@brodsky-smith.com, or by calling toll free 877-LEGAL-90.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca