3Com Class Action Settlement for $259 million - November 8, 2000

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Copyright © 2001
Stanford Law School

2000 News and Press Releases

Current News News 2000


SETTLEMENT ARCHIVED:

3Com Class Action Settlement for $259 million

Business Wire. November 8, 2000

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Summary: "The Louisiana School Employees' Retirement System and the Louisiana Municipal Police Employees' Retirement System (the "Lousiana Pension Funds") today announced that 3Com Corporation has agreed to pay $259 million in cash to settle a securities class action on behalf of 3Com shareholders. The Louisiana Pension funds have served as the principal lead plaintiffs and were appointed in March 1998 by the U.S.D.C. for the N.D. of California pursuant to the Private Securities Litigation Reform Act.

The settlement is the second largest settlement ever obtained from a corporate defendant in a securities fraud class action."


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