Class Action Lawsuit Commenced Against Lucent Technologies Inc. - LU - by Bernstein Liebhard & Lifshitz, LLP

Business Wire, Jan 14, 2000

Business Editors

NEW YORK--(BUSINESS WIRE)--Jan. 14, 2000

A securities class action lawsuit was commenced on behalf of purchasers of the common stock of Lucent Technologies, Inc.(NYSE:LU) ("Lucent" or the "Company"), between October 27, 1999 and January 6, 2000, inclusive, (the "Class Period"), in the United States District Court for the District of New Jersey.

The complaint charges Lucent and certain of its directors and executive officers with violations of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. The complaint alleges that the defendants issued materially false and misleading information and failed to disclose material information concerning the Company's deteriorating financial condition, the lack of demand for the Company's products, its inability to control costs and maintain profit margins, and the effects these adverse undisclosed conditions would ultimately have on the Company's operations, liquidity, and stock price. As a result of these misrepresentations and omissions, the price of Lucent's common stock was artificially inflated throughout the Class Period. When the truth was disclosed, Lucent's stock price plunged more than $20 per share.

Plaintiff seeks to recover damages on behalf of all those who purchased or otherwise acquired Lucent common stock during the Class Period.

If you purchased or otherwise acquired Lucent securities during the Class Period, and either lost money on the transaction or still hold the stock, you may wish to join in the action to serve as lead plaintiff.

In order to do so, you must meet certain requirements set forth in the applicable law and file appropriate papers no later than March 7, 2000.

Bernstein Liebhard & Lifshitz, LLP has been retained as one of the law firms to represent the Class. The attorneys at Bernstein Liebhard & Lifshitz, LLP have extensive experience in securities class action cases, and have played lead roles in major cases resulting in the recovery of hundreds of millions of dollars to investors.

If you would like to discuss this action or if you have any questions concerning this Notice or your rights as a potential class member or lead plaintiff, you may contact Mr. Mark Punzalan, Director of Shareholder Relations at Bernstein Liebhard & Lifshitz, LLP, 10 East 40th Street, New York, New York 10016, (800) 217-1522 or 212-779-1414 or by e-mail at Lucent@bernlieb.com.