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Microcap & Penny Stocks : INSP Investors Research

INSP 73.10

-2.8%

Oct 30 3:59 PM EDT

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To: KLP who wrote (763)	3/10/2003 6:16:04 PM
From: The O	Read Replies (1) of 787

InfoSpace Statement Pertaining to Filed Lawsuit March 10, 2003 5:33:00 PM ET BELLEVUE, Wash.--(BUSINESS WIRE)--March 10, 2003--InfoSpace, Inc. INSP today filed a lawsuit against Naveen Jain, Intelius founder, chairman and CEO, Kevin Marcus, Intelius chief technology officer, and Intelius. The suit alleges that Mr. Jain has breached fiduciary and contractual duties owed to InfoSpace, and alleges related claims against Mr. Marcus and Intelius. Mr. Jain is InfoSpace's founder and former chairman and CEO. He remains a director of InfoSpace. Mr. Marcus was InfoSpace's chief software architect from April 1996 through November 2002. According to the lawsuit, filed in King County Superior Court, Seattle, Mr. Jain and Mr. Marcus are violating their non-compete agreements with InfoSpace, misappropriating InfoSpace trade secrets and confidential information, and wrongfully interfering with the Company's contractual relationships. Contact Information: InfoSpace, Inc. Press: Adam Whinston, 425/201-8946 adam.whinston@infospace.com or Investors: Nicole Knowles, 425/201-8930 nknowles@infospace.com

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