NEW YORK, Aug. 1, 2002 (PRIMEZONE) -- Please take notice, pursuant to 15 U.S.C. Section 78u-4(a), that the law firm of Kirby McInerney & Squire, LLP has commenced a lawsuit in the United States District Court for the Southern District of New York on behalf of all purchasers of the 26% GOALs due September 12, 2002 (Amex: NYJ.A) during the period from March 6, 2001 through September 26, 2001 (the "Class Period"). The action seeks to recover losses suffered by such investors.
The complaint asserts claims for violation of Section 10(b) of the Securities and Exchange Act of 1934 against Anthony R. Muller, Dan E. Pettit, Charles J. Abbe, Zita M. Cobb, Joseph Ip, Frederick Leonberger, Michael C. Phillips, Donald R. Scifres, Jozef Straus, Kevin Kalkhoven, the Furukawa Electric Co., Ltd. and JDS Uniphase Corporation.
The alleged violations, according to the complaint, stem from materially false and misleading statements issued by the defendants during the Class Period that: (i) misrepresented JDS Uniphase's assets and financial performance; and (ii) caused the 26% GOALs to trade at artificially-inflated prices. After July 26, 2001, when JDS Uniphase restated its financial results to write-off billions of dollars of assets, and again in September 2001 when further write-downs were revealed, the 26% GOALS declined in value. The lawsuit seeks to recover losses suffered by purported class members, excluding the defendants and their affiliates.
Plaintiffs are represented by Kirby McInerney & Squire, LLP, which specializes in complex litigation, including securities actions. The firm has repeatedly demonstrated its expertise in this field, and has been recognized by various courts which have appointed the firm to major positions in consolidated and multi-district litigation. The firm's efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling hundreds of millions of dollars, and its achievements and quality of service have been chronicled in numerous published decisions. More information about the firm, representative actions in general or about the role of the lead plaintiff in a securities action can be obtained through Kirby McInerney & Squire's website at www.kmslaw.com.
If you are a member of the class described above, you may, no later than September 30, 2002, move the Court to serve as lead plaintiff of the class, if you so choose, pursuant to the Private Securities Litigation Reform Act of 1995 (the "PSLRA"), 15 U.S.C. section 78u-4(a). A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to seek appointment as a lead plaintiff. For more information about the case, its claims, and your rights, please contact:
Ira M. Press, Esq. Ori Braun KIRBY McINERNEY & SQUIRE, LLP 830 Third Avenue, 10th Floor New York, New York 10022 Telephone: (212) 317-2300 or Toll Free (888) 529-4787 E-Mail: obraun@kmslaw.com
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca