Class Action Suit Filed Against JDS Uniphase
TORONTO, Sept. 15 -- The State Treasury and Attorney General of Connecticut are leading a class action lawsuit in the US against fiber optic components maker JDS Uniphase Corp. on behalf of thousands of shareholders. The lawsuit, advertised in a Canadian newspaper last Wednesday, alleges that JDS insiders knew there were problems with the company, kept them a secret and personally profited by more than $3 billion, "and then let average investors lose millions when word got out and the stock collapsed," according to Reuters. JDS Uniphase spokeswoman Lori Goulet told Reuters the company...Read full article
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Published: September 2003