Jun 4, 2002 : Court Dismisses XO Shareholder Lawsuits

📅 June 4, 2002 - Telecommunications firm XO Communications (xo.com ) said yesterday that a federal judge had dismissed the consolidated shareholders' securities class action lawsuit filed against the company.

XO said the complaints in the dismissed lawsuit had alleged that certain XO officers and directors had violated federal securities laws.
"We are pleased with the court's decision and view the dismissal of the suit as consistent with the company's assertion that our disclosures were both proper and timely," the company said.
XO is currently considering a variety of reorganization options in order to get its struggling business back on track. Shares in the company were trading at 51 cents Tuesday morning.

Reads: 1838 | Category: General | Source: TheWHIR : Web Host Industry Reviews
URL source: http://www.thewhir.com/marketwatch/cou060402.cfm

Company: XO Communications

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