If you purchased or otherwise acquired any Ascend securities (including stocks, options and/or calls) during the Class Period (November 5, 1996 through and including September 30, 1997), either through direct purchase, gift, exercise of option or via conversion of Cascade stock), the following applies to you:
On March 5, 1998, the Court signed an order consolidating all related Ascend actions, appointing lead plaintiffs and co-lead counsel and denying defendants' motion to transfer the case to the Northern District of California.
On August 31, 1998, the Court certified the action as a class action on behalf of all persons or entities that purchased or otherwise acquired the common stock of Ascend Communications, Inc. between November 5, 1996 and September 30, 1997, inclusive (the "Class"), and a plaintiff sub-class consisting of all persons or entities that acquired Ascend stock pursuant to the Registration Statement and attached Prospectus filed with the United States Securities and Exchange Commission by Ascend on April 16, 1997, in connection with Ascend's merger with Cascade Communications, Inc. (the "Sub-Class"). Excluded from the Class and Sub-Class are defendants and members of their immediate families, any entity in which a defendant has a controlling interest, other officers and directors of Ascend, and the legal representatives, heirs, successors or assigns of any such excluded party.
On February 2, 1999, the Honorable Mariana R. Pfaelzer, United States District Court Judge for the Central District of California, issued an order granting defendants’ motion to dismiss, without prejudice, the complaint filed in the Ascend securities litigation matter.
After extensive negotiations, the parties have agreed to a Stipulation of Settlement in the case. On April 12, 2000, the court signed an Order Preliminarily Approving Settlement, approving the mailing and publication of notices to the class. Deadline for exclusions: July 31, 2000 and Hearing on final approval of settlement: August 14, 2000.

Update

This case has been settled. The Claims Administrator for this litigation is Berdon Claims Administration LLC. The deadline for submitting a proof of claim was October 16, 2000. If you would like further information about the settlement, please go to www.berdonclaims.com. If you have any further questions, please feel free to contact us.