Bay Networks was formed through the merger of Santa Clara, California based SynOptics Communications and Billerica, Massachusetts based Wellfleet Communications on July 6, 1994. SynOptics was an important early innovator of ethernet products including a pre-standard twisted pair fast ethernet product. Wellfleet was an important competitor to Cisco Systems in the router space. Santa Clara, founded in 1852, is a city located in Santa Clara County, in the U.S. state of California. ... SynOptics Communications SynOptics Communications was a Santa Clara, California based important early Ethernet vendor. ... Billerica is a town located in Middlesex County, Massachusetts. ... 1994 was a common year starting on Saturday of the Gregorian calendar, and was designated the International year of the Family. ... Cisco Systems, Inc. ...
Bay was acquired by Nortel in June of 1998 in order to broaden Nortel's reach into the data networking space. Northern Telecommunications Networks, commonly known as Nortel, is a telecommunications equipment manufacturer headquartered in Canada. ... 1998 is a common year starting on Thursday of the Gregorian calendar, and was designated the International Year of the Ocean. ...
Bay's insiders were concerned that any significant and prolonged decline in the price of Bay stock would jeopardize their ability to complete their acquisition plans and would negatively impact their stock options and incentive compensation plans.
Indeed, Bay's sales personnel were instructed, on directions from the Insider Defendants, to create the impression in the marketplace that the switch was "on allocation" which meant that the switch was being rationed because the heavy customer demand for the switch exceeded Bay's ability to manufacture sufficient quantities of the switch.
BayNetworks continues to gain momentum and is established as the industry's most comprehensive provider of switching, routing and network hub management solutions." The July 25, 1995 press release did not contain any cautionary language, nor was it accompanied by any cautionary language.
BayNetworks was formed through the merger of Santa Clara, California based SynOptics Communications and Billerica, Massachusetts based Wellfleet Communications on July 6, 1994.
Bay was acquired by Nortel in June of 1998 in order to broaden Nortel's reach into the data networking space.
Nortel renamed itself NortelNetworks after the merger the reflect that breadth of focus.
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