Brocade Communication Systems, Inc. NASD: BRCD

A lawsuit seeking class action status has been filed in the United States District Court for the Northern District of California on behalf of all purchasers of publicly traded securities of Brocade Communication Systems, Inc ("Brocade") between February 21, 2001 and May 15, 2005 (the "Class Period").

The Complaint alleges that Brocade violated federal securities laws by issuing false or misleading public statements. These allegations arise out of Brocade's May 16, 2005 announcement that it would have to restate its fiscal 2001 to fiscal 2004 earnings. Brocade stated that "the Company will restate its financial statements for the fiscal years ending 2002 through 2004 to record additional charges for stock-based compensation expense" and that fiscal 2001 and fiscal 2002 earnings per share would be reduced by up to $0.11 and $0.19, respectively.

If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.