SECURITIES VIOLATIONS ALLEGED: New Hampshire fund seeking to be lead plaintiff in AT&T suit.(New Hampshire Retirement System, AT and T Corp.)

Pensions & Investments, December, 2000 by Kovaleski, Dave

CONCORD, N.H. -- The $4.5 billion New Hampshire Retirement System, Concord, is seeking to become the lead plaintiff in a class-action lawsuit against AT&T Corp. and its Chief Executive Officer C. Michael Armstrong, alleging securities laws violations. The plaintiffs claim that AT&T and Mr.

Armstrong made false or misleading statements about matters such as revenue and earnings growth between Oct. 25, 1999, and May 1, that ``artificially inflated AT&T's stock price,'' according to the complaint. The complaint was filed Nov. 27 in U.S. District Court in Trenton, N.J. AT&T spokesman John Heath said, ``We are confident that we have complied fully with all our disclosure obligations under securities regulations.'' The $376 million pension fund of the...

Read the rest of this article with a Free Trial at HighBeam Research.

Premium Content Partnership | HighBeam Research provides an in-depth online archive library of reference works.