One year has passed since JDS Uniphase defeated shareholders in a rare class-action securities lawsuit that went to trial. Defense lawyers involved in the case, however, say companies faced with similar lawsuits are still learning valuable lessons from the Uniphase dispute.
A maker of telecommunications equipment, JDS Uniphase had been a star of the dot-com era until the industry collapsed in 2001. Its stock price plummeted from $125 in 2000 to a measly $3 by 2002, and unhappy shareholders filed suit with the usual complaints about management making false and misleading statements. The plaintiffs sought $18 billion in damages.
