Company: | Tellium, Inc. |
Ticker Symbol: | NASD: TELM |
Class Period: | May 17, 2001 TO February 1, 2002 |
Court: | District of NJ |
Date Filed: | Jan-16-03 |
Allegations: |
(ii) Qwest did not need the large number of switches they had ordered from Tellium and, in fact, had no strong obligation to purchase more switches in the future and could avoid their contractual obligations with relative ease;
(iii) after issuing positive statements about the Company's financial standing, defendants Bunting and Glassmeyer unloaded large amount of their shares
(iv) and because the Company issued false and misleading statements about Tellium's business and the Qwest contract, the Company's shares have been traded at artificially inflated prices, as high as $29 per share.
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