Law Firm Johnson & Perkinson Announces Class Action Against Nortel Networks Corporation

Business Wire, March 7, 2001

Business Editors & Legal Writers

SOUTH BURLINGTON, Vt.--(BUSINESS WIRE)--March 7, 2001

Johnson & Perkinson Files Class Action Against Nortel Networks

Corporation

Johnson & Perkinson announce that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York against Nortel Networks Corporation ("Nortel" or the "Company") (NYSE:NT-news). The Class Period is January 18, 2001 through February 15, 2001 ( the "Class Period"). The Complaint alleges that defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and Rule 10b-5 promulgated thereunder, by issuing a series of material misrepresentations regarding the status of Nortel's business and its prospects to the market during the Class Period.

As alleged in the Complaint, these statements were issued as part of a fraudulent scheme to allow Nortel to acquire a $3 billion plant from JDS Uniphase Corporation (NASDAQ: JDSU-news). Plaintiff seeks to recover damages on behalf of purchasers of JDSU common stock during the Class Period and is represented by Johnson & Perkinson. Johnson & Perkinson, previously The Law Offices of Dennis J. Johnson, is a litigation boutique dedicated to maximizing shareholders' returns and keeping the lead plaintiffs apprized of the occurrences in the litigation. Mr. Johnson was an attorney with the enforcement division of the U.S. Securities and Exchange Commission from 1980-1985 and since that time, has primarily prosecuted complex class actions on behalf of plaintiffs in the areas of securities and consumer fraud. Based in South Burlington, Vermont, the firm has prosecuted leading actions on behalf of defrauded investors in numerous public companies resulting in the recovery of many millions of dollars and has been singled out for its excellence by various courts.

If you bought JDSU common stock between January 18, 2001 and February 15, 2001, inclusive, you may, no later than May 6, 2001, request that the Court appoint you as lead plaintiff. In order to serve as lead plaintiff, you must meet certain legal requirements. If you wish to discuss this action or have any questions, please contact: Dennis J. Johnson, Esquire or Jacob B. Perkinson, Esquire at Johnson & Perkinson, 1690 Williston Road, South Burlington, Vermont 05403, toll free at 1-888-459-7855 or via e-mail at LODJJ@aol.com.