........Named as
defendants in the complaint are New Focus and Milton Chang, David L. Lee, John
Dexheimer, Winston S. Fu, R. Clark Harris, Robert D. Pavey and Kenneth E.
Westrick,, who are executive officers of New Focus. The complaint also names as
defendants the following underwriters of New Focus's initial public offering:
Credit Suisse First Boston Corporation, Chase Securities Inc., U.S. Bancorp
Piper Jaffray,Inc. and CIOBC World Markets Corp., (collectively the "Underwriter
Defendants"). The complaint charges defendants with violations of the Securities
Act of 1933 and the Securities Exchange Act of 1934 for issuing a Registration
Statement and Prospectus (the"Prospectus") that contained materially false and
misleading information and failed to disclose material information. The
Prospectus was issued in connection with New Focus's initial public offering of
5 million shares of common stock at $20.00 per share that was completed on or
about May 18, 2000. The complaint alleges that the Prospectus was false and
misleading because it failed to disclose (i) the Underwriter Defendants'
agreement with certain investors to provide them with significant amounts of
restricted New Focus shares in the IPO in exchange for exorbitant and
undisclosed commissions; and (ii) the agreement between the Underwriter
Defendants and certain of its customers whereby the Underwriter Defendants would
allocate shares in the IPO to those customers in exchange for the customers'
agreement to purchase New Focus shares in the after-market at pre-determined
prices. The SEC is investigating is investigating underwriting practices in
connection with several other initial public offerings, including the offerings
of VA Linux Systems, Inc., Ariba Inc. and United Parcel Service, Inc. Plaintiff
seeks to recover damages on behalf of all those who purchased or otherwise
acquired New Focus securities during the Class Period.......
jetzt wird von der SEC untersucht wegen der Praxis ,den Konsortialbanken erhebliche Anteile an Aktien zugeschanzt zu haben bei der IPO,die dies mit mehrfachem Gewinn anschliessend verscherbeln konnten während Otto Normalverbraucher seltenst was abbekam
defendants in the complaint are New Focus and Milton Chang, David L. Lee, John
Dexheimer, Winston S. Fu, R. Clark Harris, Robert D. Pavey and Kenneth E.
Westrick,, who are executive officers of New Focus. The complaint also names as
defendants the following underwriters of New Focus's initial public offering:
Credit Suisse First Boston Corporation, Chase Securities Inc., U.S. Bancorp
Piper Jaffray,Inc. and CIOBC World Markets Corp., (collectively the "Underwriter
Defendants"). The complaint charges defendants with violations of the Securities
Act of 1933 and the Securities Exchange Act of 1934 for issuing a Registration
Statement and Prospectus (the"Prospectus") that contained materially false and
misleading information and failed to disclose material information. The
Prospectus was issued in connection with New Focus's initial public offering of
5 million shares of common stock at $20.00 per share that was completed on or
about May 18, 2000. The complaint alleges that the Prospectus was false and
misleading because it failed to disclose (i) the Underwriter Defendants'
agreement with certain investors to provide them with significant amounts of
restricted New Focus shares in the IPO in exchange for exorbitant and
undisclosed commissions; and (ii) the agreement between the Underwriter
Defendants and certain of its customers whereby the Underwriter Defendants would
allocate shares in the IPO to those customers in exchange for the customers'
agreement to purchase New Focus shares in the after-market at pre-determined
prices. The SEC is investigating is investigating underwriting practices in
connection with several other initial public offerings, including the offerings
of VA Linux Systems, Inc., Ariba Inc. and United Parcel Service, Inc. Plaintiff
seeks to recover damages on behalf of all those who purchased or otherwise
acquired New Focus securities during the Class Period.......
jetzt wird von der SEC untersucht wegen der Praxis ,den Konsortialbanken erhebliche Anteile an Aktien zugeschanzt zu haben bei der IPO,die dies mit mehrfachem Gewinn anschliessend verscherbeln konnten während Otto Normalverbraucher seltenst was abbekam
