Abbey, Gardy & Squitieri, LLP Announces Class Action Against Lycos.The following was announced today by Abbey, Gardy & Squitieri, LLP LLP - Lower Layer Protocol : NEW YORK--(BUSINESS WIRE)--March 3, 1999--Notice is hereby given that a class action lawsuit class action lawsuit A lawsuit in which one party or a limited number of parties sue on behalf of a larger group to which the parties belong. For example, investors may bring a class action lawsuit against a brokerage firm that has actively promoted a tax was filed in the United States District Court for the District of Massachusetts The United States District Court for the District of Massachusetts is the Federal district court whose jurisdiction is the Commonwealth of Massachusetts. The first court session was held in Boston in 1789. on behalf of purchasers of Lycos, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :LCOS (Liquid Crystal on Silicon) A technology used to make microdisplays for rear-projection TVs and head-mounted displays (HMDs). Each LCoS chip hosts a grayscale LCD shutter sandwiched between a cover glass and a mirror. ) common stock between January 8, 1999 and February 9, 1999. The complaint charges Lycos, Inc. and its President/CEO, Robert J. "Bob" Davis, with violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, as amended, and Rule 10b-5 promulgated prom·ul·gate tr.v. prom·ul·gat·ed, prom·ul·gat·ing, prom·ul·gates 1. To make known (a decree, for example) by public declaration; announce officially. See Synonyms at announce. 2. thereunder. Among other things, plaintiff claims that the defendants issued materially false and misleading statements and failed to disclose material information regarding the Lycos's plans to merge with USA Networks, Inc. When Lycos announced the merger with USA Networks, the price of Lycos common stock dropped from $127-1/4 per share to $94-1/4 per share, inflicting enormous damage on investors. Plaintiff seeks to recover damages on behalf of herself and all other purchasers of Lycos, Inc. common stock between January 8, 1999 and February 9, 1999, excluding the defendants and their affiliates. Plaintiff is represented by Abbey, Gardy & Squitieri, LLP, a law firm with extensive experience in prosecuting class actions, and significant expertise in actions involving corporate fraud. If you purchased Lycos, Inc. common stock between January 8, 1999 and February 9, 1999, and are a member of the class described above, you may, not later than April 23, 1999, move the court to serve as lead plaintiff of the class, if you so choose. In order to serve as lead plaintiff, however, you must meet certain legal requirements. If you wish to discuss this action, have any questions concerning this notice or your rights or interests, or would like to request a copy of the complaint in the action, please CONTACT: Lee Squitieri, Esq. James S. Notis, Esq. Abbey, Gardy & Squitieri, LLP 212 East 39th Street New York, New York 10016 TELEPHONE: (800) 889-3701 or (212) 889-3700 FAX: (212) 684-5191 E-MAIL e-mail: see electronic mail. in full electronic mail Messages and other data exchanged between individuals using computers in a network. : jnotis@a-g-s.com |
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