NORTH BILLERICA, Mass. -- Avici Systems
Inc. (Nasdaq:AVCI - news), today announced that a shareholder class
lawsuit was filed against the Company in the United States District
Court Southern District of New York purportedly on behalf of purchasers
of the Company's
common stock during the period July 28, 2000 to April 20, 2001. The
complaint also names as defendants Morgan Stanley & Co. Incorporated and
of the Company. The complaint alleges violations of federal securities
laws regarding statements concerning the underwriting of its shares to
the public made in the
Company's initial public offering registration statement.
Avici Systems and its officers deny any liability in the litigation and
intend to vigorously defend the allegations against them.