Schoengold & Sporn, P.C. Announces Class Action Lawsuit Against Sonus Networks, Inc. (SONS)

NEW YORK Feb. 17, 2004 Schoengold & Sporn, P.C. filed a class action lawsuit against Sonus Networks, Inc. ("Sonus" or the "Company") (Nasdaq: SONS) and certain key officers and directors in the United States District Court for the District of Massachusetts on behalf of all purchasers of Sonus securities during the period between June 3, 2003 and February 11, 2004 (the "Class Period"). If you purchased Sonus securities during the Class Period and would like to join the action pursuing securities claims against Sonus, you may do so by visiting Schoengold & Sporn's website at www.spornlaw.com or contacting Schoengold & Sporn, toll free at (866) 348-7700 or via e-mail at shareholderrelations@spornlaw.com. However, please note that the deadline to seek lead plaintiff status in this case expires April 12, 2004.

The Complaint alleges that Sonus Networks, Inc., Hassan M. Ahmed and Stephen J. Hill violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and Rule 10b-5 promulgated thereunder, by issuing a series of material misrepresentations about the Company's business, operating performance and financial results, which failed to disclose and /or misrepresented the following adverse facts, among others: (a) that the defendants had improperly and untimely recognized revenue on certain of the Company's customer transactions; (b) that the defendants violated Generally Accepted Accounting Principles and the Company's own internal policies regarding the timing of revenue recognition; and (c) as a result of the foregoing, the Company's revenues, net income and earnings per share published during the Class Period were materially false and misleading.

On February 11, 2004, after the close of regular trading, Sonus shocked the market when it announced that the Company had identified certain issues, practices and actions of certain employees relating to both the timing of revenue recognized from certain customer transactions and to certain other financial statement accounts, which may affect the Company's 2003 financial statements and possibly financial statements for prior periods. Prior to disclosing these adverse facts, Sonus completed a $126.14 million public offering, and Sonus insiders sold approximately $2 million of their personally-held shares to the unsuspecting public.

The next morning, when the market opened for trading shares of the Company's stock fell as low as $5.02 per share, a decline of $1.67 per share or 24.9%, on extremely high trading volume.

If you purchased Sonus securities during the Class Period and either sold those securities at a loss or still hold them, you may request that the Court appoint you as a lead plaintiff. However, you must do so before April 12, 2004.

Schoengold & Sporn was established in 1962 and has specialized in securities fraud litigation for over 35 years. The firm was credited by the Wall Street Journal for its work in the Wedtech Securities case, which was settled for $77.4 million, as follows:

"$77.5 million settlement ... reached in a securities fraud case stemming from the Wedtech scandal ... The settlement with 29 defendants ... is believed to be one of the largest ever in a civil ... case... 'This is a global settlement,' said Samuel Sporn, a plaintiffs' attorney ... Mr. Sporn said the settlement represents almost half of the more than $160 million in stocks and bonds that Wedtech sold to the public between 1983 and 1986."

If you would like to further discuss your rights or receive an information packet, you may call collect or otherwise contact the undersigned, who will be pleased to assist:

CONTACT:
Jay P. Saltzman, Esq.
Ashley Kim, Esq.
Schoengold & Sporn, P.C.
19 Fulton Street, Suite 406
New York, New York 10038
Tel: (212) 964-0046
Fax: (212) 267-8137
Toll Free: (866) 348-7700
E-Mail: shareholderrelations@spornlaw.com
Website: www.spornlaw.com

SOURCE: Schoengold & Sporn, P.C.

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