Gold Bennett & Cera LLP Announces Class Action Lawsuit Against Tyco International, Ltd.

    SAN FRANCISCO, Dec. 30 /PRNewswire/ -- Gold Bennett & Cera LLP today
 announced that a class action was filed in the United States District Court
 for the District of New Hampshire (C-99-610-JD) on behalf of all persons who
 purchased the common stock of Tyco International Ltd. ("Tyco") (NYSE:   TYC)
 between October 1, 1998 and December 8, 1999, inclusive (the "Class Period").
     The plaintiff is represented by the San Francisco law firm of Gold Bennett
 & Cera LLP. For over 30 years, Gold Bennett & Cera LLP and its predecessors
 have successfully engaged in commercial litigation, including shareholder,
 consumer and antitrust class actions, in federal and state courts throughout
 the United States, recovering hundreds of millions of dollars for its clients.
     The action charges Tyco and two of its highest ranking officers with
 violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934,
 as well as Rule 10b-5 promulgated thereunder. The complaint alleges that
 defendants issued a series of materially false and misleading statements
 concerning Tyco's financial condition and future growth prospects that caused
 Tyco's stock to be artificially inflated. Specifically, the complaint alleges
 that Tyco misled the investing public by failing to reveal that companies that
 had agreed to be acquired by Tyco had slowed their revenue growth or wrote off
 significant assets in the quarter immediately before being acquired by Tyco.
 This allegedly permitted Tyco to report higher earnings growth in subsequent
 periods. The complaint alleges that these deceptive and overly aggressive
 accounting practices permitted Tyco to provide the market with a false and
 misleading picture of Tyco's revenue and earnings growth. Prior to the
 disclosure of the adverse facts described above, certain Tyco insiders
 allegedly sold over 2.8 million shares of Tyco to the investing public at
 artificially inflated prices for proceeds of approximately $281 million.
     If you are a member of the Class described above, you may, no later than
 February 7, 2000, move the Court to serve as lead plaintiff of the Class, if
 you so choose. In order to serve as lead plaintiff, however, you must meet
 certain legal requirements. If you wish to discuss this action or have any
 questions concerning this case or your rights or interests, please contact
 Steven O. Sidener, Esq. or Steven J. Mulligan, Esq. of Gold Bennett & Cera
 LLP, 595 Market Street, Suite 2300, San Francisco, California 94105, by
 telephone at 800-778-1822 or 415-777-2230, by facsimile at 415-777-5189 or by
 e-mail at smulligan@gbcsf.com.
 
 

SOURCE Gold Bennett & Cera LLP
RELATED LINKS
http://www.tycoint.com

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