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December 3, 1997updated 03 Sep 2016 12:20pm

ASCEND NOW HIT BY CLASS ACTION SUIT

By CBR Staff Writer

Ascend Communications Inc has become the latest company hit in the rash of class action suits this week, joining the likes of E*Trade Group Inc and Silicon Graphics Inc. The suit makes the typical allegations of false statements by company directors to inflate the share price while they dumped $40m of the stock. Ascend shares lost $10 in 10 days last month, hitting a new 52- week low (CI No 3,285).

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