Keller Rohrback L.L.P. Announces Additional Information for the Class Action Lawsuit Against Lucent Technologies

Business Wire, August 29, 2001

Business Editors, Legal Writers

SEATTLE--(BUSINESS WIRE)--Aug. 29, 2001

Keller Rohrback L.L.P.'s Complex Litigation Group, Berger & Montague, Stull Stull & Brody, and Weber Goldstein Greenberg & Gallagher filed a lawsuit on July 19, 2001, in the United States District Court for the District of New Jersey, Case Number 01-CV-3491, which was assigned to Judge Alfred L. Lechner, Jr., on behalf of participants and beneficiaries of the Lucent Technologies, Inc. (NYSE:LU) Long-term Savings Plan for Management Employees, the Lucent Technologies, Inc. Retirement Savings and Profit-sharing Plan, and the Lucent Savings Plan (referred to collectively as "The Plans").

The Class Period requested in the Complaint is from December 31, 1999, to the present.

The Complaint alleges that under the law interpreting ERISA, the defendants breached their fiduciary duties of loyalty and prudence by failing to disclose and inform the Plan participants and beneficiaries with respect to the use of employer stock as a Plan investment. Rather than providing complete and accurate information to the Plans' participants, the Complaint alleges that the defendants withheld and concealed material information during the Class Period, thereby encouraging participants and beneficiaries to continue to make and to maintain substantial investments in Company stock and the Plans.

If you wish to discuss this announcement, have information relevant to the investigation, or would like additional information on this litigation, you may contact any member of our team, including Jennifer Tuato'o, Investor Relations Representative, attorneys Lynn Lincoln Sarko or Britt L. Tinglum, toll-free at 800/776-6044, via e-mail at investor@kellerrohrback.com, or online at www.seattleclassaction.com.

Keller Rohrback L.L.P. is a law firm headquartered in Seattle that has successfully represented shareholders and consumers in class actions for over a decade.