Class-action Lawsuit Settlement Cost Rises

In the wake of Nortel’s plans to cough up $2.47-billion of cash and stock to settle two major class-action lawsuits, the company’s insurers have subsequently agreed to chip in another $228.5-million as a result of their liability coverage for Nortel officers and directors. The additional cash means Nortel will become the fourth-largest settlement of a U.S. class-action securities fraud sit, just behind the $3.2-billion paid by Cendant Corp.

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2 Responses to “Class-action Lawsuit Settlement Cost Rises”

  1. Anthony J. Mosich Says:

    would like additional information regarding claim forms and payouts per the recent settlement as i held approximately 12-15 thousand shares of Nortel during the class period…

    Thank you,

    Anthony J. Mosich

    P.S.- Thanks for the dividend…err…payout Nortel.

  2. Subhas Chand Says:

    I purchased a large amount of Nortel stock during 1999 and the scandal. I sent my forms along with the purchase transactions. I haven’t received any notice or money yet. I like to know if anyone has received their shares yet from the lawsuit. Who else can I contact? If my paperworks are lost, then Nortel should have all my copies of trasactions and they should be able to figure out my share. Any help is welcomed please.

    Thank you.

    Subhas Chand.

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