WESTFORD, Mass., June 22 /PRNewswire-FirstCall/ - Sonus Networks, Inc.
(Nasdaq: SONS), a market leader in IP communications infrastructure, announced
today that it is engaged in an ongoing dialogue with Legatum Capital to
address the points set out by Legatum in previous communications, and to
deliver a positive outcome for all shareholders of Sonus Networks.
Members of Sonus' executive management and Board of Directors met with
Legatum after Sonus' Annual Shareholder Meeting on Friday, to discuss the
resolution of Legatum's issues. The Company has made a formal proposal to work
proactively with Legatum in a collaborative manner to resolve questions of
Legatum's representation on Sonus' Board of Directors and other matters.
The Company and its Board of Directors are hopeful that an understanding
can be reached with Legatum that addresses its issues while ensuring a stable
and productive environment for the Company's shareholders, employees and
customers. Sonus' Board believes that a quick resolution to these issues is in
the best interest of all Sonus shareholders and will allow the Company to
remain focused on its efforts to create increased shareholder value over time.
About Sonus Networks
Sonus Networks, Inc. is a market leader in IP communications
infrastructure for wireline and wireless service providers. With its
comprehensive IP Multimedia Subsystem (IMS) solution, Sonus addresses the full
range of carrier applications, including residential and business voice
services, wireless voice and multimedia, trunking and tandem switching,
carrier interconnection and enhanced services. Sonus' voice infrastructure
solutions are deployed in service provider networks worldwide. Founded in
1997, Sonus is headquartered in Westford, Massachusetts. Additional
information on Sonus is available at http://www.sonusnet.com.
This release may contain forward-looking statements regarding future
events that involve risks and uncertainties. Readers are cautioned that these
forward-looking statements are only predictions and may differ materially from
actual future events or results. Readers are referred to Item 1A "Risk
Factors" of Sonus' Quarterly Report on Form 10-Q for the period ended March
31, 2008, filed with the SEC, which identifies important risk factors that
could cause actual results to differ from those contained in the forward-
looking statements. Risk factors include among others: the impact of material
weaknesses in our disclosure controls and procedures and our internal control
over financial reporting on our ability to report our financial results timely
and accurately; the unpredictability of our quarterly financial results; risks
and uncertainties associated with the Company's restatement of its historical
stock option granting practices and accounting including regulatory actions or
litigation; risks associated with our international expansion and growth;
consolidation in the telecommunications industry; and potential costs
resulting from pending securities and patent litigation against the Company.
Any forward-looking statements represent Sonus' views only as of today and
should not be relied upon as representing Sonus' views as of any subsequent
date. While Sonus may elect to update forward-looking statements at some
point, Sonus specifically disclaims any obligation to do so, except as
required by law.
Sonus is a registered trademark of Sonus Networks, Inc. All other company
and product names may be trademarks of the respective companies with which
they are associated.
For more information, please contact:
Investor Relations: Media Relations: Ruder Finn For Sonus:
Jocelyn Philbrook Lucy Millington Ed Harnaga
978-614-8672 978-614-8240 212-593-6361
jphilbrook@sonusnet.com lmillington@sonusnet.com harnagae@ruderfinn.com
SOURCE Sonus Networks, Inc.
Investor Relations, Jocelyn Philbrook, +1-978-614-8672,
jphilbrook@sonusnet.com, or Media Relations, Lucy Millington, +1-978-614-8240,
lmillington@sonusnet.com, both of Sonus Networks, Inc.; Ed Harnaga, Ruder
Finn, +1-212-593-6361, harnagae@ruderfinn.com, for Sonus Networks, Inc.
