Archive for February 2007

Supreme Court to rule on securities fraud litigation

February 19th, 2007 — 11:11am

In March 2001, Richard Notebaert, the chief executive officer of Tellabs, Inc., assured investors the growth of its best-selling product was solid.

Three months later, Notebaert told investors that the sharp drop in sales projections the Illinois-based telecommunications company experienced from January to June was due in large part to declining demand for that best-selling product, the Titan 5500.

In the meantime, stock prices fell to just under $16 per share from a high of $67.

In his assessment of the future performance of Tellabs’ best-selling product, Tellabs’ CEO was clearly wrong.

The question is: When did he know this?

(Read the rest here).

Comment » | Uncategorized

Back to top