SAN DIEGO, March 20, 2002 (PRIMEZONE) -- The Law Firm of Robbins Umeda & Fink, LLP announces that a class action lawsuit was filed in the United States District Court for the Southern District of New York on behalf of purchasers of the securities of Tyco International, Ltd. ("Tyco" or the "Company") (NYSE:TYC) between December 13, 1999 and February 5, 2002, inclusive (the "Class Period"). If you are a member of this class, you can join this class action by contacting the Firm.
The complaint charges Tyco and certain of its officers and directors with issuing a series of material misrepresentations to the market. Specifically, the complaint asserts claims against defendants Tyco, L. Dennis Kozlowski, Mark H. Swartz, Michael A. Ashcroft and Mark A. Belnick for violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. Throughout the Class Period, as alleged in the complaint, defendants failed to disclose hundreds of acquisitions by the Company and falsely stated that Tyco had acquired and would continue to acquire other companies, which would immediately be accretive to the Company's earnings and free cash flow. A copy of the complaint filed in this action is available from the Court or can be e-mailed or mailed to you by the Firm.
If you bought the securities of Tyco between December 13, 1999 and February 5, 2002, you may, no later than April 8, 2002, request that the Court appoint you as a lead plaintiff. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as ``lead plaintiff.'' Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Robbins Umeda & Fink, LLP, or other counsel of your choice, to serve as your counsel in this action.
Robbins Umeda & Fink, LLP has significant experience prosecuting class actions on behalf of investors. If you wish to discuss this action, please call or e-mail the Firm at:
ROBBINS UMEDA & FINK, LLP Contact: Marc M. Umeda, Esq. 1010 Second Ave., Suite 2360 San Diego, CA 92101 Toll Free: 1-800-350-6003 E-mail: info@ruflaw.com
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca.