JDSU
WINS CLASS ACTION JURY VERDICT
Milpitas,
California, November 27, 2007
- JDSU
(NASDAQ: JDSU; and TSX: JDU) today announced that a jury has ruled in favor
of
the Company on all claims in a securities class action lawsuit filed by
Connecticut Retirement Plans and Trust Funds against the Company in the United
States District Court for the Northern District of California, Oakland,
California.
“We
are
extremely gratified by the jury’s verdict, as we have always believed that the
plaintiffs’ claims were without merit,” said Kevin Kennedy, JDSU’s President and
Chief Executive Officer. “We will continue focusing our full attention on
developing innovative products and delivering on the significant potential
of
our business model to create shareholder value.”
The
Company noted that while the jury’s decision in this case is a significant
positive milestone, it continues to defend itself in the securities class
action
and related litigation.
About
JDSU
JDSU
(NASDAQ: JDSU; and TSX: JDU) enables broadband and optical innovation in
the
communications, commercial and consumer markets. JDSU is a leading provider
of
communications test and measurement solutions and optical products for
telecommunications service providers, cable operators, and network equipment
manufacturers. JDSU is also a leading provider of innovative optical
solutions for medical/environmental instrumentation, semiconductor processing,
display, brand authentication, aerospace and defense, and decorative
applications. More information is available at www.jdsu.com.
Forward-Looking
Statements
This
press release contains forward-looking statements within the meaning of Section
27A of the Securities Act of 1933 and Section 21E of the Securities Exchange
Act
of 1934. These statements include any expectation or implication as to the
final
outcome of the securities class action (the jury verdict in which may be
appealed by the plaintiffs, among other things) and the related litigation,
all
of which are described more specifically in the Company’s Annual Report on Form
10-K for the year ended June 30, 2007 filed with the Securities and Exchange
Commission as well as in other filings on Forms 10-Q and 10-K similarly filed.
These forward-looking statements involve risks and uncertainties that could
cause actual results to differ materially from those projected. In
particular, the securities class action referenced in this release and related
litigation claim damages that exceed the total current assets of the Company
and
thus an unfavorable outcome or settlement of one or more of these lawsuits
could
have a severe material adverse effect on our financial condition and
liquidity.
For
more
information on these and other risks affecting the Company's business, please
refer to the “Risk Factors” section included in the Company's Annual Report on
Form 10-K for the year ended June 30, 2007 filed with the Securities and
Exchange Commission, as well as in other filings on Forms 10-Q and 10-K.
The
forward-looking statements contained in this news release are made as of
the
date hereof and the Company does not assume any obligation to update the
reasons
why actual results could differ materially from those projected in the
forward-looking statements.
Contact
Information
Investors:
Press:
Michelle
Levine Kathleen
Greene
408-546-4421 408-546-5852
michelle.levine@jdsu.com
kathleen.greene@jdsu.com.