 |
TORONTO (November 17, 2004) - “Shareholders should be able to rely on accurate disclosure of a company's financial results to make informed investment decisions. When there is false or misleading disclosure, we believe companies, executives and directors must be held accountable,” said Robert Bertram, Teachers’ Executive Vice-President, Investments, Ontario Teachers' Pension Plan.
“We are representing shareholders in a class action suit against Nortel for issuing false and misleading information.”
The class action, co-lead in New York by Ontario Teachers' and the State of New Jersey, is brought on behalf of investors who purchased Nortel securities and suffered damages as a result of violations of U.S. securities laws during Nortel’s 2003 and 2004 fiscal years. Specifically, the claims are based upon the defendants’ issuance of a series of false and misleading information concerning Nortel’s financial results and performance which artificially inflated the price of Nortel’s securities during the period in question.
More information and a copy of the "Consolidated Class Action Complaint" are available at the website of Court-appointed Lead counsel for the Class, Bernstein Litowitz Berger & Grossmann LLP - www.blbglaw.com.
Background:
Update January 20, 2005
Teachers’ Chosen as Co-Lead Plaintiff in Nortel Class Action
|
|
