There's a surprise. A PricewaterhouseCoopers study says more than half the 201 shareholder class-action lawsuits file last year alleged financial fraud. And the pace will continue, it says. PWC's 2000 Securities Litigation Study cites increased SEC scrutiny of accounting and financial disclosure issues, more attention on revenue recognition policies in the software and tech sectors, and the num...
West Virginia issued a Request for Information to the telecom industry for any companies interested in the state's proposed new network. Interested vendors can attend a briefing June 27. The state is actively soliciting input and ideas, State CTO Keith Comstock tells CEDaily. "We intend to have an open meeting in June," followed by a Request for Proposals during the summer.
Broadband Gateway/Zhone mix gateways Broadband Gateways Inc. partnered with Zhone Technologies Inc. to allow interoperability between Broadband's Evolo Intelligent Premises Gateway and Zhone's Sechtor 100A Voice Gateway. The open-standards-based mix will allow providers to deploy advanced voice and data over broadband packet networks immediately, while minimizing deployment and management costs...
Tellabs Inc. upped its previous estimate of second- quarter restructuring and other charges to $262 million. In April, the company quoted charges in the $150 million to $225 million range. The charges include $93 million from Tellabs' exit from the Salix switching business, including $34 million in an inventory writeoff.
For all those who think school stinks, CityNet Telecommunications Inc. opened its first and likely only In-Sewer Broadband Deployment Training Center today. The center trains the company's employees to install its in-sewer fiber optic systems. Intent on teaching the down-and-dirty details of installing fiber optic networks in sewer systems, the company and its partner, CableRunner North America...
Terabeam Networks Inc. will use ADC's Singl.eView real-time convergent billing platform, ADC says. ADC also released two new products extending the reach of ADSL. Terabeam will use Singl.eView to reduce churn, speed its time-to-market, provide flexible rating and deliver accurate and detailed bills, ADC says.
In a sharp about-face from all previous comments, Lucent Technologies and Alcatel acknowledged they'd been in merger talks and then just as quickly confirmed they've been called off. Observers say the two could not agree on how many board seats each would get. Lucent and Alcatel aren't talking and have refused to comment on the issue for nearly two weeks.
Concurrent Computer Corp. and TVGateway LLC teamed up to build an integrated system that combines video-on-demand with an interactive program guide. Concurrent combined its VOD product with TVGateway's interactive program guide into a product that can be used with any Motorola DCT2000 set-top box using WorldGate CableWare middleware.
Lucent Technologies and Alcatel are expected to announce a merger today, where Alcatel will purchase Lucent for $23.4 billion in stock, Reuters reports. The transaction has not been confirmed by either company, but details are emerging via unnamed sources. The merger would exclude Lucent's share of Agere Systems Inc.
RiverDelta Networks Inc. landed EuroDOCSIS qualification for its Broadband Services Router 64000. The company says the CMTS/router is fully redundant and accommodates the fault detection and switchover required for high-availability and critical services over cable networks. Switching in the redundant elements takes milliseconds and is transparent to subscribers, it adds.
Teligent Inc.'s new chair resigned over the weekend after less than a month on the job. Teligent spokeswoman Tita Thompson could not comment on why Howard Jonas resigned, nor could she say if there was a replacement. The board will replace Jonas over time, she says. Jonas, who took the Teligent helm April 30, also is chair and CEO of IDT Corp.
Covad Communications Group Inc. reported a $1.4 billion net loss, or $9.47 a share, for 2000 and a $907.5 mission net loss for its fourth quarter. The results generated a "going concern" from its auditors. "The focus in 2000 was on fast growth and maintaining a leadership position," Chair Chuck McMinn said in a statement.
TiVo Inc. landed several patents this week, including one for its personal video recording software and hardware, it says. The announcement yesterday sent its stock from $4.94 to $8.50 a share. But TiVo also announced net losses of $50.2 million or $1.20 per share for the quarter ending April 30. In January, it had reported a net loss of $81.
ADC reported a net loss of $1.05 billion or $1.33 a share during its second quarter of 2001. The company also saw sales decrease to $652 million from $771 million a year ago. Chair and CEO Richard R. Roscitt cited capital spending markets, and said the company is being restructured and streamlined. It also is refocusing on such growth areas as optics, DSL, IP cable and software.
WideOpenWest LLC has confirmed talk it will acquire the assets of Ameritech New Media. The acquired systems serve about 310,000 households in Chicago; Detroit; and Columbus and Cleveland, Ohio. The systems will become a platform for introducing digital video and broadband high-speed Internet service to 2 million Midwest households, WOW says.