UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK
RYAN BEVERIDGE, on behalf of himself and
all others similarly situated,
CIVIL ACTION NO.
Plaintiff,
CLASS ACTION COMPLAINT
v. FOR VIOLATIONS OF FEDERAL
SECURITIES LAWS
AVANEX CORPORATION; WALTER
ALLESSANDRINI; JESSY CHAO; JURY TRIAL DEMANDED
MORGAN STANLEY DEAN WITTER & CO.;
FLEETBOSTON ROBERTSON STEPHENS,
INC.; LEHMAN BROTHERS, INC.; and
U.S. BANCORP PIPER JAFFRAY INC.,
Defendants.
Plaintiff, individually and on behalf of all other persons similarly situated,
undersigned attorneys, for plaintiff's Complaint, allege upon the investigation made by and
plaintiff's counsel, which included, inter alia, a review of relevant filings made by
Corporation ("Avanex" or the "Company") with the Securities and Exchange Commission, as
as, tele-conferences, press releases, news articles, analyst reports, and media reports concerning
Company. Furthermore, this complaint is based upon plaintiff's personal knowledge as to plaintiff
and plaintiff's own acts, and upon information and belief as to all other matters, based
aforementioned investigation.
NATURE OF THE ACTION
1. This is a class action on behalf of all persons, other than defendants
related parties, who purchased, converted, exchanged or otherwise acquired Avanex common stock,
as defined below, including, but not limited to, during the period from February 3, 2000 through
December 6, 2000 (the "Class Period") to recover damages caused by defendants' violations of the
SNIPPETS:
UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK
AVANEX CORPORATION; WALTER
MORGAN STANLEY DEAN WITTER & CO.; FLEETBOSTON ROBERTSON STEPHENS,
Plaintiff, individually and on behalf of all other persons similarly situated, by plaintiff's
Corporation with the Securities and Exchange Commission,
as, tele-conferences, press releases, news articles, analyst reports, and media reports
This is a class action on behalf of all persons, other than defendants and certain
related parties, who purchased, converted, exchanged or otherwise acquired Avanex common
2000 (the "Class Period") to recover damages caused by defendants' violations of the
alleged malfeasance by major Wall Street securities firms.
York and enforcement officials at the Securities and Exchange Commission are examining
customers in exchange for promises by these customers that they would purchase additional
of the IPOs in the after-market, thereby inflating and maintaining the market price for the
major investment banks including the Underwriter
Commissions for Hot IPOs" by staff reporters Randall Smith and Susan Pulliman.
participants in the IPO boom include Morgan Stanley Dean Witter and Goldman Sachs Groups,
would ensure artificial inflation in the IPO stock price, above the offering price, and
profits for investors able to obtain allocations of stock on the offering - - but before the
Securities Act of 1933 15 U.S.C. §§ 77k, 77land 77o and Sections 10
based upon misleading information).
the underwriter defendants conduct substantial
at $36 per share pursuant to a Prospectus and Registration Statement dated February 3,
Defendant U.S. Bancorp Piper Jaffray Inc.,
unlimited access to copies of the reports and press releases alleged herein to be materially
Manipulated Securities omitted and/or misrepresented material facts about the offering of
In direct contravention to Rules 101 and 102 of Regulation M of the Exchange Act,
with direct participation and agreement of Avanex and the Individual Defendants.
employed manipulation and/or deceptive devices
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