KPNQwest N.V.

Company Name
KPNQwest N.V.
Stock Symbol
Class Period
November 9, 1999 to May 31, 2002
United States District Court, Southern District of New York
Settled Case

A claim was filed in the United States District Court for the Southern District of New York on behalf of shareholders who purchased securities of KPNQwest N.V. ("KPNQwest”) between November 9, 1999 and April 24, 2002, inclusive (the “Class Period”).

The Complaint charged KPNQwest and Chief Financial Officer, Willem Ackermans, with violations of federal securities laws.  Among other things, plaintiff claims that defendants' omissions and misleading statements concerning KPNQwest’s operations and revenue caused KPNQwest’s stock price to become artificially inflated, inflicting damages on investors.  The Firm served as Co-Lead Counsel and recovered damages on behalf of KPNQwest shareholders worth $11 million.