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In re 3Com Corporation Securities Litigation
(United States District Court, Northern District of California)

The largest settlement ($259 million) ever obtained from a corporate defendant in a securities fraud class action in the Ninth Circuit.

The lawsuit was filed on behalf of purchasers of 3Com common stock during the period May 19, 1997 through November 6, 1997, alleging that defendants knowingly and recklessly caused 3Com to issue materially false and misleading statements to the financial community regarding the Company's products, inventory and distribution. The Consolidated Amended Class Action Complaint further alleged insider trading on these publicly disseminated materially false and misleading statements.

In this action the firm represented Lead Plaintiffs the Louisiana School Employees' Retirement System and the Louisiana Municipal Police Employees' Retirement System.

On February 23, 2001, the Court granted final approval of the $259 million cash settlement.


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