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Technology Stocks : ICGX - Intelcom Group -- Ignore unavailable to you. Want to Upgrade?

To: Chartgod who wrote (327)	9/27/2000 3:15:20 PM
From: Captain Jack	Read Replies (1) \| Respond to of 335

LOL! Soon there will be more lawyers filing class actions than they have employees... (COMTEX) B: Savett Frutkin Podell & Ryan, P.C. Announces Class Action B: Savett Frutkin Podell & Ryan, P.C. Announces Class Action Lawsuit Against ICG Communications Inc. PHILADELPHIA, Sep 27, 2000 (BUSINESS WIRE) -- Savett Frutkin Podell & Ryan, P.C. hereby gives notice that a class action complaint was filed today in the United States District Court, District of Colorado on behalf of a class of persons who purchased the common stock of ICG Communications, Inc. (NASDAQ: ICGX) ("ICG" or the "Company") at artificially inflated prices during the period December 20, 1999 through September 18, 2000 ("Class Period") and who were damaged thereby. If you are a member of the proposed Class, you should contact this firm at the telephone number or address below. If you wish to be appointed lead plaintiff in this action you must file a motion with the Court no later November 21, 2000. Class members must meet certain legal requirements to serve as a lead plaintiff. If you purchased ICG common stock during the Class Period or have questions or information regarding this action or your rights, you may call or write Barbara A. Podell, Adam Savett or Renee C. Nixon, of Savett Frutkin Podell & Ryan. P.C. at 800/993-3233 or via e-mail at sfprpc@op.net. The complaint charges ICG and certain of its senior officers with violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. The complaint alleges that during the Class Period, defendants issued a series of statements that were materially false and misleading because ICG was experiencing significant customer service issues within segments of its business which represented a significant portion of its revenues. These problems caused some customers, including certain principal customers, to reduce their commitments to ICG, thereby reducing ICG's revenue expectations in the third and fourth quarters of 2000 from this business segment. As a result of defendants' misrepresentations and omissions, the price of ICG common stock was artificially inflated throughout the Class Period and dropped precipitously on September 18, 2000, when these problems were disclosed. Plaintiff seeks to recover damages on behalf of all purchasers of ICG common stock during the Class Period. The plaintiff is represented by Savett Frutkin Podell & Ryan, P.C. which has extensive experience representing shareholders in class actions and has successfully recovered hundreds of millions of dollars for defrauded investors and shareholders. The reputation and expertise of the firm in shareholder and other class action litigation has been repeatedly recognized by the courts, which have appointed the firm to major positions in complex class action litigations. CONTACT: Savett Frutkin Podell & Ryan, P.C., Philadelphia Barbara A. Podell Adam T. Savett Renee C. Nixon Telephone: 215/923-5400 or 800/993-3233 E-mail: sfprpc@op.net TICKERS: NASDAQ:ICGX