Update In The Shareholder Class Action Lawsuit Against Harris Stratex Networks, Inc. (NASDAQ:HSTX)

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) October 17, 2008 -- There is a deadline coming up in the shareholder lawsuit against Harris Stratex Networks, Inc. (NASDAQ:HSTX) over alleged materially false and misleading statements about its financial condition prior to and following its Merger between Stratex Networks, Inc and the Harris Microwave Communications Division. The deadline will expire on November 14th, 2008.

On Monday, September 15, 2008 a shareholder has filed a lawsuit in the United States District Court for the District of Delaware, on behalf of all purchasers of the securities of Harris Stratex Networks, Inc. (NASDAQ: HSTX) between January 29, 2007 and July 30, 2008 against against Harris Stratex Networks, Inc. and certain officers and directors over alleged materially false and misleading statements about its financial condition prior to and following its merger between Stratex Networks, Inc. and the Harris Microwave Communications Division.

If you purchased or otherwise acquired Harris Stratex Networks, Inc. (NASDAQ: HSTX) securities between January 29, 2007 and July 30, 2008 you have certain options and there are strict and short deadlines running (November 14th, 2008). You should immediately contact the Shareholders Foundation, Inc.!

Email: Mail@ShareholdersFoundation.com

or Call us TODAY!

Phone: +1-(858)-779-1554

According to the complaint the plaintiff alleges Violations of the Securities Act of 1933 and the Securities Exchange Act of 1934 by the defendants. Specifically, the complaint alleges that the defendants issued materially false and misleading statements about its financial condition prior to and following its formation in early 2007 through the date of the merger of Stratex Networks, Inc. and the Harris Microwave Communications Division.

The stockholder alleges that on July 30th, 2008, Harris Stratex Networks, Inc. announced that it had discovered accounting errors which rendered its previously issued financial statements to be incorrect and that it will restate earnings reports from 2005 through the present. Harris Stratex Networks, Inc. reported these accounting errors will cut previously reported pre-tax income by $18 million to $25 million and as a result of the restatement Harris Stratex Networks, Inc. announced that its prior financial statements for the first three quarters of fiscal 2008 and the fiscal years 2005 through 2007 should no longer be relied upon. As a result of this news Harris Stratex Networks, Inc.’s share price fell from $11.24 to $7.35 per share — a 34.61% decline in value, so the lawsuit.

If you purchased or otherwise acquired Harris Stratex Networks, Inc. (NASDAQ: HSTX) securities between January 29, 2007 and July 30, 2008 you have certain options and there are strict and short deadlines running (November 14th, 2008). You should immediately contact the Shareholders Foundation, Inc.!

Email: Mail@ShareholdersFoundation.com

or Call us TODAY! Phone: +1-(858)-779-1554

For more information go to www.ShareholdersFoundation.com

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