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To: John Chen who wrote (140486)	3/12/2002 9:22:55 AM
From: H James Morris	Respond to of 164684

Settlement discussed in IPO-rigging case Lawyers representing 311 technology companies accused in civil suits of rigging their initial public stock offerings, including Seattle-based Avenue A and Bellevue-based drugstore.com, plan to start settlement talks with the plaintiffs, attorneys said. At a hearing in New York yesterday, lead lawyers for shareholders and the technology companies they're suing said they will enter mediation for a 90-day period before an unnamed former federal judge. The three-dozen underwriters for the technology companies weren't mentioned as parties to the negotiations. Plaintiffs say in the class-action lawsuits that the banks secretly allocated IPO shares to investors who agreed to pay higher prices later when the shares were made available to the public. That practice created an artificial demand for the stock, the suits contend. The technology companies are accused of issuing misleading prospectuses. Lawyers for the plaintiffs have previously said that damages might exceed $1 billion in the case.