InfoSpace (INSP): Where GNET went! Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : InfoSpace (INSP): Where GNET went!

INSP 59.69

-12.5%

3:59 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: White Shoes who started this subject	2/18/2004 10:26:38 AM
From: Puck	Read Replies (1) of 28311

Infospace announced this morning that it has reached a settlement regarding the In re Infospace, Inc Securities Litigation, originally filed in June 2001 as Horton vs Infospace, et. al. and which was later amended to become a shareholder class action lawsuit. This will mark the resolution of all the shareholder lawsuits alleging Naveen Jain made "false and misleading" statements about Infospace's prospects back before the internet company stock bubble popped. Great news. Now everybody can move on. Infospace won't be paying a cent or admitting anything. The $34 mil. settlement will be paid by insurers. Based on that amount, I'd guess that qualifying shareholders who join in the settlement will received several cents per share that they owned. The plaintiff's lawyers will get their usual cut of a third or so for knowing how to shake down insurance companies that provide officers and directors insurance policies, opportunistic and predatory parasites that they are, but not contributing anything of real value to the investing public.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next