REG-Cable & Wireless PLC COURT ORDERS IN CLASS ACTION AGAINST CABLE & WIRELESS
Released: 23/03/2004
COURT ISSUES ORDERS IN CLASS ACTION LITIGATION AGAINST
CABLE AND WIRELESS PLC
Cable and Wireless plc notes today, 22 March 2004, that in relation to the
securities class action pending against the company and several of its former
officers and directors (collectively "the Defendants"), the U.S. District Court
for the Eastern District of Virginia (the "Court") has issued orders in respect
of motions filed by the Defendants.
The Court orders state in summary that:
* The Defendants' motions to dismiss the consolidated class action complaint
are granted;
* The motion of Sir Ralph Robins, the company's former chairman, to dismiss
the claims against him for lack of personal jurisdiction is granted;
* The Defendants' alternative motions to dismiss the claims of foreign
(non-U.S.) purchasers for lack of subject matter jurisdiction are denied.
Cable and Wireless plc cannot comment further at this stage on the effect of
these orders without the Court Memorandum of Opinion setting forth the reasons
for the orders. The Court indicated that this would be forthcoming, although no
time frame has been set, and Cable and Wireless plc will provide a further
announcement when it is issued.
Contacts
Investor Relations:
Louise Breen Director, Investor Relations +44 20 7315 4460
Virginia Porter VP, Investor Relations, New York +1 646 207 6570
Craig Thornton Manager, Investor Relations +44 20 7315 6225
Media:
Peter Eustace Head of Media Relations +44 20 7315 4495
END
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