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


To: sandintoes who wrote (27747)3/11/2003 6:44:55 PM
From: The O  Read Replies (1) | Respond to of 28311
 
Jain told Reuters that his new company provides services different from those offered by InfoSpace, and said the suit is retaliation for allegations he has made about fiduciary misappropriation by current InfoSpace board members.

"The only reason that this suit is going on is that for the past few weeks I have been exposing to the board all the insider dealings ... by current management," he said.

Representatives for InfoSpace were not immediately available to comment on these accusations.

Shares of InfoSpace fell $1.25, or 11 percent, to $9.84, in afternoon trade on Tuesday, after earlier falling as low as $9.46. REUTERS

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