UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK
DANIEL KUCERA, on behalf of himself and all others X
similarly situated, : Index No.
:
Plaintiff, : CLASS ACTION COMPLAINT
: FOR VIOLATIONS OF THE
vs. : FEDERAL SECURITIES LAWS
:
CORVIS CORPORATION, CREDIT SUISSE FIRST :
BOSTON CORP., FLEETBOSTON ROBERTSON :
STEPHENS, INC. LEHMAN BROTHERS, INC., :
MERRILL LYNCH, PIERCE, FENNER & SMITH :
INCORPORATED, DAVID R. HUBER, ANNE H. :
STUART AND TIMOTHY C. DEC, ::
Defendants. ::X
Plaintiff, by his undersigned attorneys, individually and on behalf of the Class described
upon information and belief, based upon, inter alia, the investigation of counsel, which includes,
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 plaintiff which is alleged upon personal knowledge, brings
Complaint (the "Complaint") against defendants named herein, and alleges as follows:
SUMMARY OF ACTION
1. This is a securities class action alleging that the Registration Statement filed
SEC on July 27, 2000 and the Prospectus filed with the SEC on July 28, 2000 for the issuance and
initial public offering of 31,625,000 shares of Corvis Corporation ("Corvis" 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 Corvis and three members of its senior management team, who were responsible for
the materially false and misleading statements made in the Prospectus, and four of the underwriters
Corvis's Offering, who engaged in a pattern of conduct to surreptitiously extract inflated
SNIPPETS:
UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF NEW YORK
CORVIS CORPORATION, CREDIT SUISSE FIRST:
Plaintiff, by his undersigned attorneys, individually and on behalf of the Class described
other things, a review of public announcements made by defendants, Securities and Exchange
Commission filings made by defendants, and press releases, and media reports, except as to
This is a securities class action alleging that the Registration Statement filed with the
initial public offering of 31,625,000 shares of Corvis Corporation
common stock, contained material misrepresentations and/or omissions.
Registration Statement and Prospectus are referred to herein collectively as the "Prospectus."
Corvis's Offering, who engaged in a pattern of conduct to surreptitiously extract inflated
In connection with the acts alleged in this complaint, defendants, directly or indirectly,
Corvis purported to design, manufacture and market high
Defendant Credit Suisse First Boston Corp. was, at all relevant times
the common stock of Corvis pursuant or traceable to the false and misleading Prospectus
Members of the Class are so numerous that joinder of all members is impracticable.
and were controlling persons of the Company as set forth in Section 15 of the Securities Act.
The underwriters propose to offer the shares of common stock initially at the public offering
to the Prospectus, Corvis agreed to sell the Underwriter Defendants 17,082,961 of the
pay the Underwriter Defendants excessive commissions on transactions in other securities
In most cases, a majority of IPO shares are allocated to institutional investors, including
The statements in the Prospectus and referenced in ¶¶22-25 were materially false and
misleading because they contained the following misstatements and/or omissions of material
Item 501 of Regulation S-K specifically governs the forepart of the Registration Statement
participating in the preparation of the Prospectus and other materials used in the sale of
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