SECURITIES FRAUD
 

Securities Class Action Suit Filed Against Lucent Technologies

On December 18, 2000, the firm of Shapiro Haber & Urmy LLP filed a securities class action entitled Murphy v. Lucent Technologies, Inc., et al., Civil Action No. 00-06111, in the United States District Court for the District of New Jersey against Lucent Technologies, Inc., and certain officers and directors of the Company.

The class consists of all who purchased the common stock of Lucent from October 10, 2000 through November 20, 2000, inclusive.

The complaint alleges that the defendants violated section 10(b) of the Securities Exchange Act of 1934 ("the Exchange Act"), and Rule 10b-5 promulgated thereunder, and Section 20(a) of the Exchange Act, by issuing materially false or misleading statements concerning the Company's revenue and earnings in the fourth quarter of the fiscal year 2000. The complaint alleges that these defendants had no basis for these statements in light of the fact that they knew or recklessly disregarded the inadequacy of the Company's internal accounting systems and controls and their impact on Lucent's reported financial results. The Company shocked the investing public when it announced, before the opening of the market on November 21, 2000, that it had materially overstated its revenue and earnings for the fourth quarter of fiscal year 2000.

If you have any questions regarding this case or your rights or interests, please contact Sophie Horowitz, Paralegal, Shapiro Haber & Urmy LLP, 53 State Street, Boston, Massachusetts 02109, by calling (800) 287-8119, by sending a facsimile to (617) 439-0134, or by sending email to cases@shulaw.com.