ShoreTel's Underwriters Seek To Toss IPO Suit

Law360, New York (August 26, 2008, 12:00 AM EDT) -- Lehman Brothers Inc. and JPMorgan Securities Inc., the lead underwriters for ShoreTel Inc.'s initial public offering, are joining forces with the company in seeking to throw out a securities class action brought by investors who claim they were misled after stock prices fell in the wake of the IPO.

The two underwriters said in court documents filed Tuesday in the U.S. District Court for the Northern District of California that the plaintiffs' consolidated amended class action complaint should be dismissed with prejudice because, among other things,...
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