Free Declaration in Support - District Court of California - California

Case 4:07-cv-05101-SBA

Document 13-4

Filed 12/03/2007

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Exhibit C

INVESTOR ALERT: KGS Announces Initial Filing of Securities Class ...

http://biz.yahoo.com/iw/071004/0310829.html

Case 4:07-cv-05101-SBA
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Document 13-4

Filed 12/03/2007
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Source: Kahn Gauthier Swick, LLC

INVESTOR ALERT: KGS Announces Initial Filing of Securities Class Action Lawsuit Against BigBand Networks, Inc. - BBND
Thursday October 4, 12:11 am ET

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NEW ORLEANS, LA--(MARKET WIRE)--Oct 4, 2007 -- Kahn Gauthier Swick, LLC ("KGS") has filed the first class action lawsuit against BigBand Networks, Inc. ("BigBand" or the "Company") (NasdaqGM:BBND - News) in the United States District Court for the Northern District of California, on behalf of shareholders who purchased the common stock of BigBand in connection with the Company's Initial Public Offering ("IPO") on or about March 15, 2007, or who purchased shares thereafter in the open market. No class has yet been certifie d in this action.
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UNLESS A CLASS IS CERTIFIED, YOU ARE NOT PERSONALLY REPRESENTED BY COUNSEL UNLESS YOU RETAIN AN ATTORNEY. BigBand, certain of its officers and directors, and the Company's underwriters -- collectively, "defendants" -are charged with including, or allowing the inclusion of, materially false and misleading statements in the Registration Statement and Prospectus issued in connection with the IPO, in violation of the Securities Act of 1933.

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The Complaint charges that BigBand raised over $159 million through the sale of 10.7 million shares, despite the Registration Statement's false and misleading statements issued in connection with the IPO. Specifically, the Complaint charges defendants with failing to adequately conduct a due diligence investigation into the Company prior to the IPO, and that they failed to reveal BigBand was not performing according to plan, lacked significant controls and procedures, and lacked any reasonable ba sis to forecast near-term foreseeable financial and operational results. The Complaint further alleges that defendants failed to reveal the Company's results were a lready underperforming expectations at the time of the IPO, and that they had boosted the financial results of the quarter immediately prior to the offering by loading customers with unnecessary inventory -- such that sales in future quarters would foreseeably be adversely impacted as customers "worked off" excess inventory prior to purchasing more of BigBand's products. Additionally, the Complaint asserts that defendants failed to disclose that the roll out of its new products was not proceeding according to its growth plan, and that this transition too was adversely impacting revenues in the near-term. On September 28, 2007, BigBand shares fell over 30% in a single trading day -- falling from over $9.00 per share to below $6.00 per share, before closing at $6.49 on exceptionally heavy trading volume of almost 7 million shares. This precipitous decline occurred after the truth was revealed to investors the pre vious evening that the problems existing at the time of the IPO, and detailed in the Complaint, would result in extremely disappointing results for the third quarter of 2007, including substantially reduced revenues. If you wish to serve as lead plaintiff in this class action lawsuit, you must move the Court no later than December 3, 2007. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. If you would like to discuss your legal rights, you may e-mail or call KGS Managing Partner Lewis Kahn, without obligation or cost to you, toll free 1-866-467-1400, ext. 100, via cell phone 504-301-7900, or by email at [email protected]. To learn more about KGS, you may visit http://www.kgscounsel.com. KGS focuses its practice on securities class action litigation, and has been appointed lead counsel in numerous federal securities class action s. SPECIAL NOTICE: KGS reminds you to fully interview any other lawyer who may issue a press release in this matter to assure that he or she thoroughly understands the facts surrounding the substantiv e claims KGS has filed in Court. It is critically important that interested parties carefully evaluate any other firm that may be competing with KGS to prosecute the BigBand class action. Critical components of a law firm's ability to

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10/5/2007 11:34 AM

INVESTOR ALERT: KGS Announces Initial Filing of Securities Class ...

http://biz.yahoo.com/iw/071004/0310829.html

Case 4:07-cv-05101-SBA

Document 13-4

Filed 12/03/2007

Page 3 of 3
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successfully prosecute this action and obtain a strong recovery for you include its knowledge of applicable federal securities laws, the resources it will dedicate to prosecution of the case (including the number of lawyers the firm has available for the BigBand class action) AND especially the quality of the firm's work.

Contact:
Contact: Lewis Kahn KGS 1-866-467-1400, ext. 100 email: [email protected]

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Source: Kahn Gauthier Swick, LLC

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10/5/2007 11:34 AM