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To: dbmedia who wrote (406)	8/24/2001 6:05:04 PM
From: StockDung	Respond to of 526

Law Firm Goodkind Labaton Rudoff & Sucharow LLP Announces Civil Lawsuit Against Infotopia, Inc. NEW YORK--(BUSINESS WIRE)--Aug. 23, 2001--Goodkind Labaton Rudoff Sucharow LLP (GLRS) announced today that it has filed a suit in the United States District Court for the Northern District of Ohio against Infotopia, Inc. and four members of the company's senior management for stock fraud. The plaintiffs, twenty-six stockholders of Infotopia, are seeking a minimum of $5 million in damages and have asserted a claim for punitive damages. Named in the suit aside from Infotopia (OTCBB:IFTP) are Daniel Hoyng, Infotopia's chief executive officer and chairman of the board, Ernest Zavoral, the company's president and a director, Marek Lozowicki, an officer and a director, and Clinton Smith, an attorney who is also a director. Infotopia, located in Canfield, Ohio, is in the direct marketing business and sells various products through televised infomercials. The products include home exercise equipment (the "Total Tiger" and "Body by Jake Bun and Thigh Rocker"), a line of herbal formulas (the "Hot Mommies System"), and a kitchen device (the "Cooking Saddle"). The complaint alleges that the plaintiffs were induced through a series of false and misleading statements made by the company's senior management between June and September 2000 to exercise warrants to purchase Infotopia stock. The stockholders exercised their warrants in mid-September by surrendering promissory notes issued by Infotopia that provided for the return of principal within 270 days together with 10% interest. The stockholders claim that they relied on statements by Hoyng and other officers and directors that the "Torso Tiger" sales "will continue for many years to come" and that earnings of 20 cents per share could be "safely projected" "for this fiscal year." In fact, according to the complaint, Infotopia discontinued the sale of this product as of December 31, 2000 and the company reported a loss of over $16 million dollars for the three months ending November 30, 2000 and a loss of over $26 million for the ten months ended December 31, 2000. Other false and misleading statements alleged in the complaint relate to an announced Letter of Agreement for a $20 million financing package that was characterized in an August 4, 2000 press release as a "real home run for our company." In a letter to the shareholders on September 28, 2000 Hoyng disclosed that the Letter of Agreement was in fact only a letter of intent that never materialized into any financing for Infotopia. The stockholders further assert that the false and misleading statements had the effect of causing the stock price to rise from 12 cents per share on August 23, 2000 to $1.12 per share on September 12, 2000. Several of the insiders sold hundreds of thousands of shares through September 20 realizing substantial profits. The suing stockholders' stock was not registered by the company until over a month later when the stock price had dropped to the 20 cent per share range. Adjusted for a recent 200:1 reverse split, the stock is currently trading at less than a half a cent per share. The plaintiffs are represented by Mark S. Arisohn, Esq. of the New York law firm, Goodkind Labaton Rudoff & Sucharow LLP, a national leader in securities fraud litigation. For almost 40 years, GLRS has practiced at the trial and appellate levels in the federal and state courts For a copy of the complaint, please go to the GLRS web site, www.glrs.com. For additional information or comments, please contact Mr. Arisohn. at 212-907-0840. www.glrs.com CONTACT: Goodkind Labaton Rudoff & Sucharow LLP, New York Mark S. Arisohn, Esq. 212/907-0840 arisohm@glrs.com or Media Contact: Jeanine Magsitza, 212/907-0659 magsitj@glrs.com TICKERS: OTCBB:IFTP KEYWORD: NEW YORK BW2168 AUG 24,2001 9:49 PACIFIC 12:49 EASTERN