NEW YORK-A former U.S. congressman from New York filed a class-action lawsuit against Alcatel Alsthom, its chief executive officer Serge Tchuruk and its directors in connection with the company’s recent merger with DSC Communications Inc.
The lawsuit, filed by Bill Green and the law firm of Lowey Dannenberg Bemporad & Selinger P.C., is one of at least six lawsuits that have been filed on behalf of former DSC shareholders.
The lawsuits allege that Alcatel knew its second-half revenues and earnings would not meet expectations and that it withheld that information until after it closed its merger with DSC.
Alcatel Sept. 17 said the telecom sector’s income from operations “will be adversely impacted by sharp investment cuts recently decided by some traditional operators and the deepening of the Southeast Asian and Russian crisis.”
The Associated Press reported Tchuruk has denied any wrongdoing in the company’s takeover of DSC.
