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Case Status:    SETTLED
On or around 04/21/2004 (Date of order of final judgment)

Filing Date: November 22, 2000

According to a press release dated April 20, 2004, a federal judge entered a Final Judgment And Order approving settlement and dismissal with prejudice of the consolidated securities class action lawsuit filed against the company and several of its past and present officers and directors. Under the terms of the settlement, all claims against the Company have now been dismissed without admission of liability or wrongdoing. The shareholder class is receiving a cash payment of $19.2 million.

On March 8, 2001, the Court issued an Order appointing Lead Plaintiff and approving Lead Counsel in this Action. On March 29, 2001, a Consolidated and Amended Class Action Complaint was filed. On November 2, 2001, after a briefing by the parties, the Court issued an Order denying in part and granting in part Defendants’ motion to dismiss the Action. The Court sustained the claim relating to Turkcell’s
churn rate but dismissed plaintiffs’ claim concerning non-disclosure of Turkcell’s second quarter 2000 results in the Prospectus. On February 6, 2004, Lead Plaintiff and Defendants entered into a Stipulation of Settlement settling the claims against Defendants for $19,200,000.


This purported class action lawsuit was initiated in the United States District
Court for the Southern District of New York against Turkcell and two of its past and present officers and directors on November 22, 2000. The lawsuit commenced accusing the defendants of misleading the investing public in registration statements filed with the SEC prior to the offering. Specifically, the complaint says Turkcell’s prospectus said it was losing customers at a rate of less than 0.1% a year when the true rate was at least 30 times greater than that.

COMPANY INFORMATION:

Sector: Services
Industry: Communications Services
Headquarters: Turkey

SECURITIES INFORMATION:

Ticker Symbol: TKC
Company Market: New York SE
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: S.D. New York
DOCKET #: 00-CV-8913
JUDGE: Hon. Naomi Reice Buchwald
DATE FILED: 11/22/2000
CLASS PERIOD START: 07/10/2000
CLASS PERIOD END: 09/21/2000
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Berger & Montague PC
    1622 Locust Street, Berger & Montague PC, PA 19103
    800.424.6690 215.875.4604 · investorprotect@bm.net
  2. Law Offices of Bruce G. Murphy
    265 Llwyds Lane, Law Offices of Bruce G. Murphy, FL 32963
    561.231.4202 ·
  3. Milberg Weiss Bershad Hynes & Lerach LLP (San Diego, CA)
    600 West Broadway, 1800 One America Plaza, Milberg Weiss Bershad Hynes & Lerach LLP (San Diego, CA), CA 92101
    800.449.4900 · support@milberg.com
  4. Rabin & Peckel LLP
    275 Madison Avenue, 34th Floor, Rabin & Peckel LLP, NY 10016
    212.682.1818 212.682.1892 · email@rabinlaw.com
  5. Schiffrin & Barroway LLP
    3 Bala Plaza E, Schiffrin & Barroway LLP, PA 19004
    610.667.7706 610.667.7056 · info@sbclasslaw.com
  6. Stull, Stull & Brody (New York)
    6 East 45th Street, Stull, Stull & Brody (New York), NY 10017
    310.209.2468 310.209.2087 · SSBNY@aol.com
  7. Wolf Popper, LLP
    845 Third Avenue, Wolf Popper, LLP, NY 10022-6689
    877.370.7703 212.486.2093 · IRRep@wolfpopper.com
No Document Title Filing Date
COURT: S.D. New York
DOCKET #: 00-CV-8913
JUDGE: Hon. Naomi Reice Buchwald
DATE FILED: 03/29/2001
CLASS PERIOD START: 07/10/2000
CLASS PERIOD END: 09/21/2000
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Berman DeValerio Pease Tabacco Burt & Pucillo (MA)
    One Liberty Square, Berman DeValerio Pease Tabacco Burt & Pucillo (MA), MA 2109
    617.542.8300 617.230.0903 · info@bermanesq.com
  2. Murray, Frank & Sailer LLP
    275 Madison Ave 34th Flr, Murray, Frank & Sailer LLP, NY 10016
    212.682.1818 212.682.1892 · email@murrayfrank.com
  3. Rabin, Murray & Frank LLP
    275 Madison Avenue, Rabin, Murray & Frank LLP, NY 10016
    212-682-1818 · info@rabinlaw.com
No Document Title Filing Date
No Document Title Filing Date