Alvarion Limited designs and manufactures wireless access products, primarily for the telecommunications field.

The purported class action Complaint filed against the Company and certain officers and directors of the Company alleges that in certain public statements regarding its business with a customer that accounted for significant revenues during 2004, the Company failed to state that sales to the customer would not continue to provide substantial revenues to the Company, and on that basis the Complaint asserts violations of U.S. Federal Securities laws.

On September 20, 2007 Judge White entered an order consolidated the related cases. On October 30, 2007, the Court issued an order and appointed Furkan M. Khan and Rahul Saraf as Cc-lead Plaintiffs and Glancy Binkow & Goldberg LLP and The Law Office of Jacob Sabo and Federman & Sherwood as co-lead Counsel for the consolidated action. Co-lead Plaintiffs' Amended Consolidated Complaint is due on or before December 30, 2007.

On January 23, 2008, the parties filed a Stipulation for Dismissal. On January 24, 2008, the Court granted the Stipulation for Dismissal. According to the Order, the lead Plaintiffs and the Defendants stipulate to the dismissal of this consolidated putative class action. The Action is dismissed in its entirety, without prejudice.