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Technology Stocks : InfoSpace (INSP): Where GNET went! -- Ignore unavailable to you. Want to Upgrade?

To: Roger Sherman who wrote (26141)	6/26/2001 3:29:31 PM
From: Sarkie	Respond to of 28311

They just keep on coming. June 26, 2001 13:22 SLOTNICK, SHAPIRO & CROCKER, LLP Announce Class Action Against InfoSpace, Inc. NEW YORK, June 26 /PRNewswire/ -- The law firm of SLOTNICK, SHAPIRO & CROCKER, LLP announced today that it has filed a class action in the United States District Court for the Western District of Washington on behalf of all individuals and institutional investors that purchased the publicly traded securities of InfoSpace, Inc. (Nasdaq: INSP) ("InfoSpace" or the "Company") between January 26, 2000 through January 30, 2001, inclusive (the "Class Period"). The Complaint charges the Company and its Founder and Chairman, Naveen Jain, with violating the federal securities laws [the Securities Exchange Act of 1934] by providing materially false and misleading information about the Company's financial performance FY 1999 and 2000, and as a result of these false and misleading statements the Company's stock traded at artificially inflated prices during the Class Period. The press release issued in connection with the announcement stated, in part: "On January 20, 2001, after Defendants had completed several acquisitions using inflated InfoSpace shares as currency, Defendants disclosed that, contrary to the representations made by them during 2000 that InfoSpace was experiencing strong revenue growth during 4Q99, and FY 2000 and that InfoSpace would continue to post strong revenue growth through FY 2001, InfoSpace would report no revenue growth or EPS for FY 2001, but rather would report declining revenue and a significant loss for the year. As Defendants began to reveal some of their improper conduct, including the fact that Defendants' projected revenues and earnings estimates were false, InfoSpace's shares fell to less than $6 per share, a 95% decline from their Class Period high of $138-1/2 per share." SLOTNICK, SHAPIRO & CROCKER, LLP is recognized as one of the nation's preeminent litigation firms, having represented both plaintiffs and defendants in trials throughout the United States. Stephen D. Oestreich, who recently joined the Firm as Chairman of the Firm's Class Action Department, has been responsible, in more than 25 years of practice, for the recovery of hundreds of millions of dollars on behalf of shareholder class members. If you are a member of the proposed class as described above, would like further information on this lawsuit and/or to serve as a lead plaintiff of the class, and wish to discuss the claim or have any other questions concerning the matters set forth above, please contact Stephen D. Oestreich, Esq. SLOTNICK, SHAPIRO & CROCKER, LLP 100 Park Avenue, 35th Floor New York, NY 10017 Tel.: (212) 687-5000 or Toll Free: 1-888-367-5291 Fax: (212) 687-3080 E-Mail: soestreich@sscny.com If you wish to serve as one of the lead plaintiffs in this lawsuit, you must meet certain requirements and take appropriate action by August 18, 2001. You may contact the Firm at the above address, e-mail or phone numbers. MAKE YOUR OPINION COUNT - Click Here tbutton.prnewswire.com SOURCE SLOTNICK, SHAPIRO & CROCKER, LLP /CONTACT: Stephen D. Oestreich, Esq. of SLOTNICK, SHAPIRO & CROCKER, LLP, 212-687-5000 or 888-367-5291, fax: 212-687-3080, soestreich@sscny.com/ /Web site: sscny.com (INSP) In NYTU113, SLOTNICK, SHAPIRO & CROCKER, LLP Announce Class Action Against InfoSpace, Inc., moved earlier today, we are advised by the company that the second sentence in the second paragraph reading: "The press release issued in connection with the announcement stated, in part:" should be omitted and that the quotation marks in the third paragraph should be disregarded. /PRNewswire -- June 26/

To: Roger Sherman who wrote (26141)	6/27/2001 12:17:57 PM
From: Sarkie	Read Replies (3) \| Respond to of 28311

Will the last one out please turn off the lights!! June 27, 2001 09:54 Spector, Roseman & Kodroff, P.C. Files Class Action Suit Against InfoSpace, Inc. PHILADELPHIA, June 27 /PRNewswire/ -- The law firm of Spector, Roseman & Kodroff, P.C. announces that a class action lawsuit has been commenced in the United States District Court for the Western District of Washington against defendant InfoSpace, Inc. (Nasdaq: INSP) ("InfoSpace" or the "Company") on behalf of purchasers of the stock of InfoSpace during the period from January 26, 2000 through January 30, 2001, inclusive (the "Class Period"). The complaint charges InfoSpace and its founder and Chairman, Naveen Jain, with violations of the Securities Exchange Act of 1934. The complaint alleges that between January 2000 and January 2001 Defendants disseminated false and misleading information concerning InfoSpace's actual FY 1999 and 2000 financial performance and Defendants' expectations concerning InfoSpace's FY 2001 revenue and earnings. In fact, neither InfoSpace's reported FY 1999 and FY 2000 results nor its projected FY 2001 performance were accurate. Defendants' public representations were the result of Defendants' efforts to manipulate InfoSpace's reported earnings and expected FY 2001 performance and were designed to (and did) allow: (i) Jain to sell millions of dollars of his own InfoSpace shares at artificially inflated prices; and (ii) allow Defendants to complete a series of acquisitions using shares of InfoSpace's artificially inflated stock as currency, including the October 2000 acquisition of Go2Net. On January 30, 2001, after Defendants had completed several acquisitions using inflated InfoSpace shares as currency, Defendants disclosed that, contrary to the representations made by them during 2000 that InfoSpace was experiencing strong revenue growth during 4Q99 and FY 2000, and that InfoSpace would continue to post strong revenue growth through FY 2001, InfoSpace would report no revenue growth or EPS for FY 2001, but rather would report declining revenue and a significant loss for the year. As Defendants began to reveal some of their improper conduct, including the fact that Defendants' projected revenues and earnings estimates were false, InfoSpace's shares fell to less than $6 per share, a 95% decline from their Class Period high of $138-1/2 per share. If you purchased InfoSpace securities during the Class Period, you may, no later than August 18, 2001, move to be appointed as a Lead Plaintiff in this class action. A Lead Plaintiff is a representative, chosen by the Court, that acts on behalf of other class members in directing the litigation. The Private Securities Litigation Reform Act of 1995 directs Courts to assume that the class member(s) with the "largest financial interest" in the outcome of the case will best serve the class in this capacity. Courts have discretion in determining which class member(s) have the "largest financial interest," and have appointed Lead Plaintiffs with substantial losses in both absolute terms and as a percentage of their net worth. If you have sustained substantial losses in Winstar securities during the Class Period, please contact Spector, Roseman & Kodroff, P.C. at classaction@spectorandroseman.com for a more thorough explanation of the Lead Plaintiff selection process. If you have relatively small losses, your ability to participate in any recovery will be protected by the Lead Plaintiff(s), and you need take no affirmative steps at this time. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel Robert M. Roseman toll-free at 888-844-5862 or via E-mail at classaction@spectorandroseman.com. For more detailed information about the firm please visit its website at spectorandroseman.com. Spector, Roseman & Kodroff, P.C., located in Philadelphia, Pennsylvania and San Diego, California, concentrates its practice in complex litigation including actions dealing with securities laws, antitrust, contract and commercial claims. The firm is active in major litigation pending in federal and state courts throughout the United States. The firm's reputation for excellence has been recognized on repeated occasions by courts which have appointed the firm as lead counsel in numerous major class actions involving violations of the federal securities laws and the federal antitrust laws, and consumer fraud. As a result of the efforts of the firm, and its members, hundreds of millions of dollars have been recovered on behalf of thousands of defrauded shareholders and companies. MAKE YOUR OPINION COUNT - Click Here tbutton.prnewswire.com SOURCE Spector, Roseman & Kodroff, P.C. /CONTACT: Robert M. Roseman of Spector, Roseman & Kodroff, P.C., 888-844-5862 or classaction@spectorandroseman.com/ /Web site: spectorandroseman.com / (INSP)