CIENA ACKNOWLEDGES NOTICE OF CLASS ACTION LAWSUITS
Linthicum, MD — 08/27/1998Ciena Corporation (NASDAQ: CIEN) today acknowledged press releases from two law firms indicating that class action lawsuits naming Ciena and certain of its officers and directors as defendants, have been filed in the United States District Court of the District of Maryland.
Although the Company does not yet have copies of the lawsuits, the press releases and related press reports indicate the lawsuits allege that the Company issued false and misleading statements in violation of the federal securities laws, and seek to recover damages on behalf of a class of shareholders who purchased Ciena common stock during the period of May 21, 1998 and August 21, 1998.
Ciena believes the allegations are without merit, and indicated that it intends to vigorously defend itself and its directors and officers.
Ciena specializes in network transition. We provide the flexible platforms, intelligent software and professional services to build converged networks for enhanced services and applications. With a growing global presence, Ciena leverages its heritage of practical innovation to deliver maximum performance and economic value in communications networks worldwide. For more information, visit www.ciena.com.
Nicole Anderson
Ciena Corporation
(877) 857 -7377
pr@ciena.com
Marie Downing
Ciena Corporation
(888) 243-6223
ir@ciena.com
