IP theft or not, the entire tech company was hit very hard around that time. Telecom was especially hard hit. Nortel was hardly unique. Disclosure: I'm in that business, work for Ciena which now owns one if the remainders of Nortel. Opinions are mine. Sycamore Networks: From $45 Billion to Zilch: https://online.wsj.com/article/SB100014241278873239261045782...

Telecom's big fall: https://www.baltimoresun.com/news/bs-xpm-2002-04-07-02040600...