Class action lawsuit filed against Robertson Stephens on behalf of Sycamore shareholders who felt deceived about its Sirocco acquisition

April 4, 2003

2 Min Read

LOS ANGELES -- The law firm of Weiss & Yourman announced today that a class action lawsuit has been filed in the United States District Court for the Northern District of California against Robertson Stephens, Inc. on behalf of purchasers of Sycamore Networks, Inc. ("Sycamore") (Nasdaq: SCMR - News) securities between January 10, 2000 through September 7, 2000, inclusive (the "Class Period"). The Complaint charges that Robertson Stephens and its analyst Paul Johnson issued materially false and misleading public statements, research reports and "Buy" recommendations on Sycamore and praised the acquisition of Sirocco Networks, Inc. ("Sirocco") by Sycamore while failing to disclose that Johnson owned Sirocco stock and that the acquisition would result in a multimillion windfall for Johnson. The Complaint alleges that, based on defendants' recommendations and failure to disclose defendant Johnson's conflicts of interest, Sycamore securities sold at artificially inflated prices during the Class Period. As a result, Plaintiff and the rest of the Class purchased their Sycamore shares at prices that were artificially inflated and were damaged thereby. Plaintiff seeks to recover damages on behalf of the Class and is represented by Weiss & Yourman. The firm, with offices in New York and Los Angeles, has extensive experience in complex litigation, particularly securities class actions, and has been appointed lead class counsel in numerous consolidated and multi-district cases. You may visit the firm's website at www.wyca.com . If you purchased Sycamore securities between January 10, 2000 and September 7, 2000, inclusive, you may be a member of the class and until June 2, 2003 to move the court to serve as lead plaintiff for the Class. However, in order to do so, you must meet certain legal requirements pursuant to the Private Securities Litigation Reform Act of 1995. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Weiss & Yourman, or other counsel of your choice, to serve as your counsel in this action.

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