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O'Quinn, Laminack & Pirtle Announces Update Regarding JAG Media Lawsuit.

HOUSTON -- O'Quinn, Laminack & Pirtle commented today on Judge Gilmore's recent ruling granting the motion to dismiss of various plaintiffs in the lawsuit commenced by JAG Media Holdings, Inc. (OTC Pink Sheets: JAGH) against various brokerage firms, market makers and others in connection with the "naked short selling" of JAG Media's stock.

"We are obviously disappointed with Judge Gilmore's ruling," said Tom Pirtle, a partner at O'Quinn, Laminack & Pirtle. "While this is a setback, we firmly believe JAG Media and its stockholders have been victimized and damaged by the seemingly never ending daisy-chain of failed settlements in the company's stock. We have met with the Company to review Judge Gilmore's ruling and are currently working closely with the Company to determine the best strategy for re-initiating claims against responsible parties in light of the court's ruling," added Pirtle.

"The litigation involving JAG Media is a unique and important litigation that brings into question the fundamental workings of the trade settlement system of the largest and most important financial market in the world", said John O'Quinn, noted trial attorney and founding partner of O'Quinn, Laminack & Pirtle. O'Quinn, Laminack & Pirtle has always prided itself in being at the forefront of such litigations and will not be deterred by this setback, continued O'Quinn.

About O'Quinn, Laminack & Pirtle

O'Quinn, Laminack & Pirtle is one the nation's premier civil trial firms. O'Quinn, Laminack & Pirtle are currently in the forefront of litigation involving naked short selling and settlement failure, representing numerous issuers that have been injured by this predatory practice.

Safe Harbor Statement - Certain statements made herein that are not historical are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995 and may contain forward-looking statements, with words such as "Anticipate, "believe," "expect," "future," "may," "will," "should," "plan," "projected," "intend," and similar expressions to identify forward-looking statements. These statements are based on the firm's beliefs and the assumptions it made using information currently available to it. Because these statements reflect the firm's current views concerning future events, these statements involve risks, uncertainties and assumptions. The actual results could differ materially from the results discussed in the forward-looking statements. In any event, undue reliance should not be placed on any forward-looking statements, which apply only as of the date of this press release. Accordingly, reference should be made to the Company's periodic filings with the Securities and Exchange Commission.
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Publication:Business Wire
Date:Oct 12, 2004
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