Shareholders have slapped two separate class action lawsuits on Alcatel of France within a day of each other.
The first, issued in New York, alleges Alcatel issued a series of false and misleading statements to conceal its true financial condition and operating performance.
The other, prepared by lawyers in Texas, is on behalf of shareholders of Alcatel subsidiary DSC, developer of digital switching and network management systems. It alleges that Alcatel failed to disclose that its operating results in the first half of 1998 were worse than the company had led investors to believe.
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