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KPN settles class action
Den Haag, 22-6-06
KPN has reached an agreement with the lead plaintiffs to settle the securities class action related to the bankruptcy of KPNQwest N.V. for an amount of USD 4.175 million (approx. EUR 3.1 million). The securities class action is pending before the US District Court for the Southern District of New York.
The settlement covers KPN, its subsidiaries and affiliates and certain individual defendants. The settlement is worldwide and applies to all those who purchased KPNQwest securities between November 9, 1999 and May 31, 2002.
The agreement is subject to approval of the US District Court for the Southern District of New York.
