NEW YORK, Feb. 13, 2003 (PRIMEZONE) -- Notice is hereby given that a securities class action lawsuit was filed in the United States District Court for the Southern District of New York on behalf of purchasers of Motorola, Inc. ("Motorola" or the "Company") (NYSE:MOT) common stock (the "Class") between February 3, 2000 and April 6, 2001, inclusive (the "Class Period").
If you purchased Motorola securities during the Class Period, then you may, no later than March 3, 2003, move the court to serve as a lead plaintiff, provided you meet certain legal requirements. To serve as a Lead Plaintiff, you will be required to sign the Certification, as provided on our website at www.nyclasslaw.com/join.html.
The Complaint alleges that defendant 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 to the market between February 3, 2000 and April 6, 2001, thereby artificially inflating the price of Motorola securities. Throughout the Class Period, as alleged in the complaint, defendant issued numerous statements and filed reports with the SEC which described a $1.5 billion agreement between Motorola and Telsim, under which Motorola would provide infrastructure, handsets and associated services to enable Telsim to expand its countrywide global system for mobile communications network in Turkey. As alleged in the complaint, these statements were materially false and misleading because defendants failed to disclose, among other things: (i) the extent to which the Telsim transaction was being supported by vendor financing; (ii) the level of risk which Motorola was exposed to by providing such vendor financing; and (iii) that the vendor financing was secured primarily by a pledge of the Telsim's stock.
Plaintiff seeks to recover damages on behalf of all purchasers or acquirers of Motorola securities during the Class Period. Plaintiff is represented in this class action by the law firm of Bull & Lifshitz, LLP. Bull & Lifshitz, LLP has extensive experience in litigating investor class actions. For more information regarding Bull & Lifshitz, LLP, please view our website at www.nyclasslaw.com or www.nyclasslaw.com/infopackage.html
For an information package or if you wish to discuss this action, or have any questions concerning this notice of your rights or interests with respect to this matter, please contact Bull & Lifshitz, LLP via telephone at (212) 213-6222, via fax at (212) 213-9405 or by email at counsel@nyclasslaw.com
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca