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Published: 2004-03-19 09:32:00
Updated: 2004-03-19 09:32:00

Posted: March 19, 2004

Some Shareholders File Class Action Lawsuit Against Nortel

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RESEARCH TRIANGLE PARK, N.C. — Nortel is on the wrong end of a class-action lawsuit.

Some shareholders say Nortel reported solid fourth-quarter earnings. They bought more stock, then prices fell sharply when Nortel announced it may have to restate those results. Now, those shareholders are suing the company.

Nortel employs about 3,000 people in the Triangle.

The company has not commented on the lawsuit.

  • Web Editor: Kamal Wallace
Copyright 2011 by Capitol Broadcasting Company. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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