Networking company Cabletron Systems is being sued by shareholders, who allege the supplier misled them about its financial outlook. The shareholders have filed a class action lawsuit in the District Court of New Hampshire, claiming that investors buying Cabletron stock between March 3 and June 2 this year were misled. Cabletron shares rocketed from about $30 to just above $46 during that period, but collapsed after the company announced that quarterly results would be lower than expected. Shares have hovered around $32 since. A spokesman at Cabletron, said: "We have no comment, other than to say that this action is similar to one filed earlier in Michigan, which was decided in our favour." Class action suits by investors are common in the US. Bay Networks and 3Com have both been hit this year, as well as Borland, SSA, Informix and AST.
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