thegrimreaper will sit upon his hands

BALA CYNWYD, PA (AFX) - Cable & Wireless was named in a shareholder lawsuit,
seeking class action status, in the US District Court for the Eastern District
of Virginia on behalf of investors who purchased ADRs in the company from Aug 6,
1999 through Dec 6, 2002, according the plaintiffs' law firm.
The complaint alleges the defendants issued "materially false and misleading
statements to the market" during the period in question," according to a
statement from the law firm of Schiffrin & Barroway LLP.
"... the complaint alleges that defendant Cable issued a press release on
August 6, 1999, announcing that it had agreed to sell One 2 One, a British based
mobile telecommunications operator, to Deutsche Telekom. Under the announced
terms of the agreement, Deutsche Telekom would pay 6.9 billion pounds sterling
in cash for 100% of the equity ownership interest in One 2 One including the
repayment of 237 million pounds of shareholder loans, and would assume
approximately 1.5 billion pounds of third-party debt," the statement said.
The company was not immediately available for comment.