Adam H. Smith, P.A., Announces Class Action on Behalf of Sellers of Tyco International Ltd. Common Stock Alleging Violations of
April 29 2005 - 1:56PM
PR Newswire (US)
Adam H. Smith, P.A., Announces Class Action on Behalf of Sellers of
Tyco International Ltd. Common Stock Alleging Violations of Federal
Securities Laws BOCA RATON, Fla., April 29 /PRNewswire/ -- Adam H.
Smith, P.A., announced today that it filed a class action lawsuit
in the United States District Court for the Southern District of
Florida on behalf of all persons or entities (the "Class") who sold
the common stock of Tyco International, LTD. ("Tyco") (NYSE: TYC)
between June 15, 2002 and December 31, 2004, inclusive (the "Class
Period"). The complaint alleges that defendants, including CEO
Edward Breen, violated Sections 10(b) and 20(a) of the Securities
Exchange Act of 1934, and Rule 10b-5 promulgated thereunder, by
issuing a series of material misrepresentations during the Class
Period, thereby artificially deflating the price of Tyco common
stock. Specifically, the complaint alleges that defendants
overstated and misrepresented material adverse facts that were
known to, or recklessly disregarded, by them and: 1) conspired to
encourage the initiation of criminal actions against Dennis
Kozlowski, Mark H. Swartz, and Mark A. Belnick in an effort to
protect the former members of the Board of Directors from
liability; 2) employed a strategy that included, in part, leaking
information to the media in an effort to artificially deflate share
prices for the benefit of new management; and 3) recklessly
disregarded the likelihood of significant dilution of Tyco equity
resulting from inefficiencies and additional expenses in
implementing this strategy. You may apply to serve as lead
plaintiff on behalf of the Class if you sold Tyco common stock
during the Class Period. The lead plaintiff is responsible for
overseeing the prosecution of the action and ensuring that the
interests of the Class are protected. You have until June 1, 2005,
to apply for lead plaintiff status in the action. You may apply to
be appointed lead plaintiff through Adam H. Smith, P.A., by
contacting one of the persons listed below. Adam H. Smith, P.A.,
concentrates in prosecuting securities fraud actions nationwide on
behalf of investors. The firm currently plays a leading role in
securities and complex commercial litigations pending in federal
court, state court and arbitration and has offices in Boca Raton,
Florida; Hollywood, Florida; and New York City. The firm has been
recognized throughout the country as experienced and skilled in
complex litigation and arbitration, particularly with respect to
federal and state securities claims. If you wish to discuss this
matter, or have any questions regarding your rights and interests
pertaining to the prosecution of this securities class action, you
may contact Adam H. Smith, Esq. or Mark D. Hunter, Esq. at
1-866-925-3538 or by e-mail at . DATASOURCE: Adam H. Smith, P.A.
CONTACT: Adam H. Smith, Esq., or Mark D. Hunter, Esq., both of Adam
H. Smith, P.A., +1-866-925-3538, or
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