Shareholder Class Action Filed Against NetZero, Inc. By The Law Firm of Schiffrin & Barroway, LLP

Apr 27, 2001, 01:00 ET from Schiffrin & Barroway, LLP

    BALA CYNWYD, Pa., April 27 /PRNewswire/ -- The following statement was
 issued today by the law firm of Schiffrin & Barroway, LLP:
     Notice is hereby given that a class action lawsuit was filed in the United
 States District Court for the Southern District of New York, located at 500
 Pearl Street, New York, NY 10007, on behalf of all purchasers of the common
 stock of NetZero, Inc. (Nasdaq:   NZRO) from September 24, 1999 through
 September 28, 2000, inclusive (the "Class Period").
     If you wish to discuss this action or have any questions concerning this
 notice or your rights or interests with respect to these matters, please
 contact Schiffrin & Barroway, LLP (Marc A. Topaz, Esq. or Stuart L. Berman,
 Esq.) toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at
 info@sbclasslaw.com.
     The complaint charges NetZero and certain of its officers and directors
 with issuing false and misleading statements concerning its business and
 financial condition.  On September 24, 1999, NetZero commenced an initial
 public offering of 10 million of its shares of common stock at an offering
 price of $16 per share (the "NetZero IPO").  In connection therewith, NetZero
 filed a registration statement, which incorporated a prospectus (the
 "Prospectus"), with the SEC.  Specifically, the complaint alleges that the
 Prospectus was materially false and misleading because it failed to disclose,
 among other things, that: (i) Goldman Sachs, BancBoston and Salomon had
 solicited and received excessive and undisclosed commissions from certain
 investors in exchange for which Goldman Sachs, BancBoston and Salomon
 allocated to those investors material portions of the restricted number of
 NetZero shares issued in connection with the NetZero IPO; and (ii) Goldman
 Sachs, BancBoston and Salomon had entered into agreements with customers
 whereby Goldman Sachs, BancBoston and Salomon agreed to allocate NetZero
 shares to those customers in the NetZero IPO in exchange for which the
 customers agreed to purchase additional NetZero shares in the aftermarket at
 pre-determined prices.  Furthermore, the complaint alleges that the SEC is
 investigating underwriting practices in connection with several other initial
 public offerings.
     Plaintiff seeks to recover damages on behalf of class members and is
 represented by the law firm of Schiffrin & Barroway, LLP, who has significant
 experience and expertise prosecuting class actions on behalf of investors and
 shareholders.  For more information on Schiffrin & Barroway, or to sign-up to
 participate in this action online, please visit www.sbclasslaw.com.
     If you are a member of the class described above, you may, not later than
 June 22, 2001, 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.
 
      CONTACT:  Schiffrin & Barroway, LLP
                Marc A. Topaz, Esq.
                Stuart L. Berman, Esq.
                Three Bala Plaza East, Suite 400, Bala Cynwyd, PA  19004
                1-888-299-7706 (toll free) or 1-610-667-7706
                Or by e-mail at info@sbclasslaw.com
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X50374654
 
 

SOURCE Schiffrin & Barroway, LLP
    BALA CYNWYD, Pa., April 27 /PRNewswire/ -- The following statement was
 issued today by the law firm of Schiffrin & Barroway, LLP:
     Notice is hereby given that a class action lawsuit was filed in the United
 States District Court for the Southern District of New York, located at 500
 Pearl Street, New York, NY 10007, on behalf of all purchasers of the common
 stock of NetZero, Inc. (Nasdaq:   NZRO) from September 24, 1999 through
 September 28, 2000, inclusive (the "Class Period").
     If you wish to discuss this action or have any questions concerning this
 notice or your rights or interests with respect to these matters, please
 contact Schiffrin & Barroway, LLP (Marc A. Topaz, Esq. or Stuart L. Berman,
 Esq.) toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at
 info@sbclasslaw.com.
     The complaint charges NetZero and certain of its officers and directors
 with issuing false and misleading statements concerning its business and
 financial condition.  On September 24, 1999, NetZero commenced an initial
 public offering of 10 million of its shares of common stock at an offering
 price of $16 per share (the "NetZero IPO").  In connection therewith, NetZero
 filed a registration statement, which incorporated a prospectus (the
 "Prospectus"), with the SEC.  Specifically, the complaint alleges that the
 Prospectus was materially false and misleading because it failed to disclose,
 among other things, that: (i) Goldman Sachs, BancBoston and Salomon had
 solicited and received excessive and undisclosed commissions from certain
 investors in exchange for which Goldman Sachs, BancBoston and Salomon
 allocated to those investors material portions of the restricted number of
 NetZero shares issued in connection with the NetZero IPO; and (ii) Goldman
 Sachs, BancBoston and Salomon had entered into agreements with customers
 whereby Goldman Sachs, BancBoston and Salomon agreed to allocate NetZero
 shares to those customers in the NetZero IPO in exchange for which the
 customers agreed to purchase additional NetZero shares in the aftermarket at
 pre-determined prices.  Furthermore, the complaint alleges that the SEC is
 investigating underwriting practices in connection with several other initial
 public offerings.
     Plaintiff seeks to recover damages on behalf of class members and is
 represented by the law firm of Schiffrin & Barroway, LLP, who has significant
 experience and expertise prosecuting class actions on behalf of investors and
 shareholders.  For more information on Schiffrin & Barroway, or to sign-up to
 participate in this action online, please visit www.sbclasslaw.com.
     If you are a member of the class described above, you may, not later than
 June 22, 2001, 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.
 
      CONTACT:  Schiffrin & Barroway, LLP
                Marc A. Topaz, Esq.
                Stuart L. Berman, Esq.
                Three Bala Plaza East, Suite 400, Bala Cynwyd, PA  19004
                1-888-299-7706 (toll free) or 1-610-667-7706
                Or by e-mail at info@sbclasslaw.com
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X50374654
 
 SOURCE  Schiffrin & Barroway, LLP