A class action lawsuit has hit 3Com only weeks after it acquired US Robotics. The action, taken yesterday in California, seeks damages for anyone who bought 3Com ordinary shares between 24 September and 10 February.
The action came as the result of a price war in the Fast Ethernet market, started by Intel. 3Com said in February sales of its offerings were unlikely to be as high as expected.
Last week, 3Com reported its third quarter earnings which showed the company still relies heavily on sales of Fast Ethernet products. No-one from the company was available for comment.
* Hayes UK said that it could not substantiate reports from the US that it was up for sale, like US Robotics.
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