Ascend shareholders attempt to nix Lucent deal

Lawsuits filed to block merger

Four separate lawsuits were filed today with the Delaware Chancery Court. Their goal: to block the proposed $20 billion merger between Lucent and Ascend (see Lucent and Ascend tie the knot at last). The suits were filed by Ascend shareholders and allege that company's directors, many of them named in the suits as defendantsm, have failed in their responsibility as directors to maximise the value of the shareholders' stakes in the company. ®

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