NEW YORK, May 6, LAWFUEL – The Law News Network — Wolf Haldenstein Adler Freeman & Herz LLP filed a class action lawsuit in the United States District Court for the District of New Jersey, on behalf of all persons who purchased the securities
of Avaya, Inc. (“Avaya” or the “Company”) (NYSE: AV) between October 5, 2004
and April 19, 2005, inclusive, (the “Class Period”) against defendants Avaya
and certain officers and directors of the Company.
Our case name is Levitt v. Avaya, Inc., et al. A copy of the complaint
filed in this action is available from the Court, or can be viewed on the Wolf
Haldenstein Adler Freeman & Herz LLP website at http://www.whafh.com .
The complaint alleges that defendants violated the federal securities laws
by issuing materially false and misleading statements throughout the Class
Period that had the effect of artificially inflating the market price of the
Company’s securities. Specifically, the complaint alleges: (a) the cost of the
integration of Tenovis was much greater than represented and rather than being
“accretive” to fiscal 2005 earnings or having a positive financial impact
within a short period of time, the acquisition would, in fact, reduce Avaya’s
earnings by at least $.06 per share during fiscal 2005; (b) Avaya’s changes in
its delivery methods of products to market was creating severe disruptions in
sales; (c) Avaya was experiencing a dramatic reduction of demand in its U.S.
market; and (d) based on the foregoing, Avaya had no reasonable basis to
project an increase in profits or an increase in revenues of 25-27% for fiscal
2005.
If you purchased Avaya securities during the Class Period, you may request
that the Court appoint you as lead plaintiff by June 28, 2005. A lead
plaintiff is a representative party that acts on behalf of other class members
in directing the litigation. In order to be appointed lead plaintiff, the
Court must determine that the class member’s claim is typical of the claims of
other class members, and that the class member will adequately represent the
class. Under certain circumstances, one or more class members may together
serve as “lead plaintiff.” Your ability to share in any recovery is not,
however, affected by the decision whether or not to serve as a lead plaintiff.
You may retain Wolf Haldenstein, or other counsel of your choice, to serve as
your counsel in this action.
Wolf Haldenstein has extensive experience in the prosecution of securities
class actions and derivative litigation in state and federal trial and
appellate courts across the country. The firm has approximately 60 attorneys
in various practice areas; and offices in Chicago, New York City, San Diego,
and West Palm Beach. The reputation and expertise of this firm in shareholder
and other class litigation has been repeatedly recognized by the courts, which
have appointed it to major positions in complex securities multi-district and
consolidated litigation.
If you wish to discuss this action or have any questions, please contact
Wolf Haldenstein Adler Freeman & Herz LLP at 270 Madison Avenue, New York, New
York 10016, by telephone at (800) 575-0735 (Fred Taylor Isquith, Esq., Gregory
M. Nespole, Esq. or Derek Behnke), via e-mail at classmember@whafh.com or
visit our website at http://www.whafh.com . All e-mail correspondence should
make reference to Avaya.
Web Site: http://www.whafh.com
