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Nortel Networks Settles Class Action Suits

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Nortel Networks has settled two Canadian class-action suits. The suits were brought by shareholders after Nortel revised its financial results for years 2001-2005.
 
This settlement paves the way for settlements of similar suits by American shareholders.
 

Nortel settles class-action suits

BusinessWeek - 6/21/2006 6:23 PM

JUN. 21 5:41 P.M. ET Nortel Networks Corp. said Wednesday it has reached an agreement with the plaintiffs of two Canadian shareholder class-action lawsuits sparked by revised financial results that helped drive down the value of the company's stock in recent years.
 
Settlement of the two Canadian suits was a condition of Nortel's previously announced agreement in principle to settle two related major U.S. shareholder suits, which were essentially based on
 
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