Bay Networks shareholders have slapped a class action lawsuit against Nortel claiming they were misled over the Canadian giant's slowing revenue growth in Europe and Asia.
The suit was immediately blasted by other shareholders as a "joke", and issued in the hope of making money from the fallout of the merger.
New York lawyers Wolf Haldenstein Adler Freeman & Herz LLP, filed the suit on 14 October. It alleges that Nortel began to reveal its "financial woes" only after the merger was finalised, including plans to cut its workforce.
"Defendants then startled investors by announcing that revenue growth would be significantly below their own projections due to a major fall off in demand for its products in Europe and Asia," maintain the lawyers.
Biometrics of more than five million taxpayers taken by HMRC
Central Bank of India forced to make banks take basic security more seriously
Qualcomm planning to use TSMC's 7nm process to make fast and power-efficient rival to Intel
Voice assistants in smart homes will reach 275 million in five years' time, and Amazon is in pole position