The lawsuit was brought in October 2000 on behalf of those who bought stock from Dec. 6, 1999 to May 1, 2000, according to AT&T and court records.
One of the lawyers for the plaintiffs, Peter S. Pearlman, said the lawsuit charged that then-AT&T chairman and chief executive C. Michael Armstrong knowingly overstated revenue growth for the company's business division.
Armstrong first made the projection of 9 percent to 11 percent growth for 2000 during a conference call with analysts Dec. 6, 1999, and the guidance was repeated until revised downward on May 2, 2000, Pearlman said.
``There is no safe harbor protection for statements that were knowingly falsely made,'' Pearlman said. ``In our view, and in the view of people testifying for us, there was no basis to make that projection.''
Pearlman had no immediate estimate of the number of individuals and institutions who may qualify as plaintiffs.
Subsea cable alternatives can provide a level of comfort for those concerned about disruptions. Realistically, they will continue to play a small, but critical role in the short term.
Maintaining existing network infrastructures often incurs huge technical debt before newer technologies are adopted over time.
Amid ongoing regional uncertainties, telecom infrastructure in the Middle East has expand to include terrestrial low-latency network infrastructure, which offers resilience and agility in navigating political complexities without relying solely on undersea networks.
