Subject: [NEXTEL-1] Monday, November 03, 2003

From: [email-masked]
Date: Mon, 03 Nov 2003 10:43:55 -0500

-------- Original Message --------
From: CAR Newsclips <[email-masked]>
Subject: Monday, November 03, 2003

C L A S S   A C T I O N   R E P O R T E R

Free Newsclips for Monday, November 03, 2003

BLACK BOX: SEC Conducts Probe Over Insider Trading, Stock Fraud
---------------------------------------------------------------
The Securities and Exchange Commission (SEC) is conducting an 
investigation into Black Box Corporation, on charges of insider 
trading by unnamed officers and directors, the Company announced 
Wednesday, the Pittsburgh Tribune Review reports.

The inquiry focuses on the Company's announcement March 11 that 
its earnings in the fiscal quarter ending March 31 would come in 
well below expectations.  The announcement led some investors to 
dump company stock.  In a filing with the SEC, the company said 
it intends to cooperate fully and had voluntarily provided 
information to regulators before becoming the subject of a 
formal inquiry. 

Black Box is the target of several class-action lawsuits 
surrounding the March 11 earnings warning, the Tribune Review 
states.  The lawsuits allege the company: 

     (1) Failed to disclose that its European operations were 
         not performing well and would have to be scaled back; 

     (2) Overstated financial results by improperly delaying the 
         write-down of bad debts;

     (3) Was experiencing declining demand for its products and 
         services. 

The suits further allege that the Company insiders sold Company 
stock in the months leading up to the March 11 announcement, 
where the Company stated its earnings for the quarter would be 
no more than 54 cents per share, lower than analyst expectations 
of 74 cents.  The next day, Black Box's stock dropped 31 
percent, from $39.14 per share to $26.78. 

Black Box spokeswoman Anna Baird told the Pittsburgh Tribune 
Review that executives and officers did not sell company stock 
during that period.  The SEC "wanted information from some 
officers and directors related to financial information they had 
available to them," Ms. Baird said.

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