Burt & Pucillo, LLP Announces Notice of Pendency of Class Action; Tyco International, Ltd. Shareholder Initiates Class Action

Business Wire, Dec 17, 1999

WEST PALM BEACH, Fla.--(BUSINESS WIRE)--Dec. 17, 1999--

Pursuant to Section 21D(a)(3)(A)(i) of the Securities Exchange Act of 1934 ("Exchange Act"), Notice is hereby given that on December 15, 1999, a shareholder of Tyco International, Ltd. (NYSE:TYC) initiated a class action lawsuit alleging violations of the federal securities laws which was filed in the United States District Court for the District of New Hampshire, Case No. C-99-587-B. The action is brought on behalf of a class of persons who purchased Tyco International, Ltd. ("TYCO" or the "Company") Securities during the period from October 1, 1998 through December 8, 1999 (the "Class Period").

The Complaint in this action alleges that TYCO and its Chief Executive Officer and Chief Financial Officer (collectively, the Defendants") violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 by, among other things, issuing materially false and misleading statements to the investing public which concealed the fact that TYCO had employed certain accounting devices and methods which made it appear that certain recently acquired businesses were experiencing extraordinarily healthy growth rates which would not have been the case absent use of the undisclosed accounting devices. The complaint further alleges that the price of TYCO's shares was artificially inflated as a result of Defendants' omissions of material fact and that the officer defendants sold a significant amount of their personal holdings of TYCO stock while in possession of the undisclosed material facts.

The action was filed by, among others, the law firm of Burt & Pucillo, LLP, of West Palm Beach, Florida. The firm of Burt & Pucillo, LLP, concentrates its practice in the representation of shareholders in class action claims under the federal securities laws in Florida and throughout the United States. For further information on the firm's prior experience in class and securities litigation and expertise in the prosecution of such claims, or if you are a member of the Class described above and wish to learn more about this action or serve as a lead plaintiff, you may contact Plaintiff's counsel, Michael J. Pucillo or Wendy H. Zoberman at Burt & Pucillo, LLP, at 1-800-349-4612 or 561-835-9400, or e-mail addresses: law@burt-pucillo.com or burtpucill@aol.com. A motion for appointment of a lead plaintiff must be filed by February 10, 1999.