LITTLE ROCK, Ark., April 16, 2004 (PRIMEZONE) -- Emerson Poynter LLP, which has filed a class action lawsuit against Nortel Networks, Inc. ("Nortel") (NYSE:NT) (TSE:NT) and two of the Company's senior officers, on behalf of all persons or entities who publicly traded securities during the period between December 23, 2003 and March 12, 2004, inclusive (the "Class Period"), reminds investors that you have until Monday, May 17, 2004 to seek appointment by the Court as one of the lead plaintiffs in this action.
The complaint alleges that throughout the Class Period, defendants caused Nortel's shares to trade at artificially inflated levels through the issuance of false and misleading financial statements. Shortly before the start of the Class Period, Nortel advised investors that it would be restating its financial results for 2000, 2001 and 2002 and the first and second quarters of 2003. A copy of the complaint filed in this action is available from the Court, or can be obtained by contacting the firm.
If you bought Nortel publicly traded securities between December 23, 2003 and March 12, 2004, inclusive, and you wish to serve as lead plaintiff, you must move the Court no later than May 17, 2004. In order to serve as lead plaintiff, you must meet certain legal requirements. If you have any questions about how you may be able to recover for your losses, or if you would like to consider serving as one of the lead plaintiffs in this lawsuit, you are encouraged to contact our firm toll free at 1-800-663-9817 or via email to shareholder@emersonfirm.com Any member of the purported class may move the Court to serve as lead plaintiff through Emerson Poynter LLP or other counsel of their choice, or may choose to do nothing and remain an absent class member.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca