UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK
ALBERT LEWIS and ___________, on behalf of X
themselves and all others similarly situated, :: Index No.
Plaintiffs, :: CLASS ACTION COMPLAINT
FOR VIOLATIONS OF THE
vs. :: FEDERAL SECURITIES
LAWS
AVICI SYSTEMS, Inc., MORGAN STANLEY & :
CO. INCORPORATED, SURYA R. PANDITI and :
PAUL F. BRAUNEIS, ::
Defendants. :::::X
Plaintiffs, by their undersigned attorneys, individually and on behalf of the Class
described below, upon information and belief, based upon, inter alia, the investigation of counsel,
which includes, among other things, a review of public announcements made by defendants,
Securities and Exchange Commission ("SEC") filings made by defendants, and press releases,
and media reports, except as to the paragraph applicable to the named plaintiffs which is alleged
upon personal knowledge, bring this Complaint (the "Complaint") against defendants named
herein, and allege as follows:
SUMMARY OF ACTION
1. This is a securities class action alleging that the Registration Statement filed with
the SEC on July 24, 2000 and the Prospectus filed with the SEC on or about July 28, 2000, for
the issuance and initial public offering of 7 million shares of Avici Systems Inc. ("Avici" or the
"Company") common stock (the "Offering"), contained material misrepresentations and/or
omissions. The Registration Statement and Prospectus are referred to herein collectively as the
"Prospectus." Defendants are Avici, two members of its senior management team, who were
responsible for the materially false and misleading statements made in the Prospectus, and one of
the underwriters of Avici's Offering, which engaged in a pattern of conduct to surreptitiously
extract inflated commissions greater than those disclosed in the Offering materials, among other
SNIPPETS:
UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK
Plaintiffs, by their undersigned attorneys, individually and on behalf of the Class
Securities and Exchange Commission filings made by defendants, and press releases,
bring this Complaint against defendants named
herein, and allege as follows:
the issuance and initial public offering of 7 million shares of Avici Systems Inc. ("Avici"
The Registration Statement and Prospectus are referred to herein collectively as the
extract inflated commissions greater than those disclosed in the Offering materials,
acts of misconduct.
This Court has jurisdiction over the subject matter of this action pursuant to § 27
of the Securities Exchange Act of 1934,
amended and 78t), and Rule 10b-5 promulgated thereunder (17 C.F.R.
Venue is proper in this District as defendants
conduct business in this District and many of the wrongful acts alleged herein took place or
In connection with the acts alleged in this complaint, defendants, directly or
indirectly, used the means and instrumentalities of interstate commerce, including, but not
limited to, the mails, interstate telephone communications and the facilities of the national
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