JDSU 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.
