Wolf Haldenstein Adler Freeman and Herz LLP Commences Ventro Class Action

Apr 13, 2001, 01:00 ET from Wolf Haldenstein Adler Freeman & Herz LLP

    NEW YORK, April 13 /PRNewswire/ -- Wolf Haldenstein Adler Freeman & Herz
 LLP announces that it filed a class action lawsuit in the United States
 District Court for the Northern District of California on behalf of all
 purchasers of Ventro Corporation (Nasdaq:   VNTR) ("VENTRO" or the "Company")
 securities during the period between February 15, 2000 and December 6, 2000,
 inclusive (the "Class Period") against Ventro and certain of its officers and
 directors.
     The case name and index number are Sagerquist v. Ventro (01-20305 JW), and
 is before Judge James Ware.  A copy of the complaint filed in this action is
 available from the Court, or can be viewed on the Wolf Haldenstein Adler
 Freeman & Herz LLP website at http://www.whafh.com.
     The complaint alleges that the defendants violated federal securities
 laws.
     Ventro Corporation is a builder and operator of business-to-business
 e-commerce marketplace companies.  The complaint alleges that during the Class
 Period, it was evident to defendants that Ventro did not possess the
 technology to successfully compete as a marketplace.  Defendants knew this
 would severely impair Ventro's future revenue growth but wanted to raise
 additional money through debt offerings before the bottom fell out of Ventro's
 stock price.  Thus, defendants continued to make positive but false statements
 about Ventro's business and future revenues.  As a result, Ventro's stock
 traded as high as $243.50 per share during the Class Period.
     The complaint further alleges that on Dec. 6, 2000, Ventro announced a
 restructuring in which it closed down two out of three of its main B2B
 marketplaces.  In early 2001, it was revealed that defendants had realized by
 December 1999 that Ventro's business model of independent marketplaces didn't
 make sense and that even Ventro's partners were not satisfied with Ventro's
 technology for operating the marketplaces.  By this time Ventro's stock had
 declined to less than $2 per share, inflicting billions of dollars of damage
 on plaintiff and the Class.
     If you purchased Ventro securities during the class period, you may
 request that the Court appoint you as lead plaintiff by May 29, 2001.  A lead
 plaintiff is a representative party that acts on behalf of other class members
 in directing the litigation.  In order to be appointed lead plaintiff, the
 Court must determine that the class member's claim is typical of the claims of
 other class members, and that the class member will adequately represent the
 class.  Under certain circumstances, one or more class members may together
 serve as "lead plaintiff." Your ability to share in any recovery is not,
 however, affected by the decision whether or not to serve as a lead plaintiff.
 Wolf Haldenstein has extensive experience in the prosecution of securities
 class actions and derivative litigation in state and federal trial and
 appellate courts across the country.  The firm has approximately 60 attorneys
 in various practice areas; and offices in Chicago, New Jersey, New York City,
 San Diego, and West Palm Beach.  The reputation and expertise of this firm in
 shareholder and other class litigation has been repeatedly recognized by the
 courts, which have appointed it to major positions in complex securities
 multi-district and consolidated litigation.
     If you wish to discuss this action or have any questions, please contact
 Wolf Haldenstein Adler Freeman & Herz LLP at 270 Madison Avenue, New York, New
 York 10016, by telephone at (800) 575-0735 (Gregory M. Nespole, Esq., George
 Peters, Michael Miske, Fred Taylor Isquith, Esq.), via e-mail at
 classmember@whafh.com or visit our website at http://www.whafh.com.
 
 

SOURCE Wolf Haldenstein Adler Freeman & Herz LLP
    NEW YORK, April 13 /PRNewswire/ -- Wolf Haldenstein Adler Freeman & Herz
 LLP announces that it filed a class action lawsuit in the United States
 District Court for the Northern District of California on behalf of all
 purchasers of Ventro Corporation (Nasdaq:   VNTR) ("VENTRO" or the "Company")
 securities during the period between February 15, 2000 and December 6, 2000,
 inclusive (the "Class Period") against Ventro and certain of its officers and
 directors.
     The case name and index number are Sagerquist v. Ventro (01-20305 JW), and
 is before Judge James Ware.  A copy of the complaint filed in this action is
 available from the Court, or can be viewed on the Wolf Haldenstein Adler
 Freeman & Herz LLP website at http://www.whafh.com.
     The complaint alleges that the defendants violated federal securities
 laws.
     Ventro Corporation is a builder and operator of business-to-business
 e-commerce marketplace companies.  The complaint alleges that during the Class
 Period, it was evident to defendants that Ventro did not possess the
 technology to successfully compete as a marketplace.  Defendants knew this
 would severely impair Ventro's future revenue growth but wanted to raise
 additional money through debt offerings before the bottom fell out of Ventro's
 stock price.  Thus, defendants continued to make positive but false statements
 about Ventro's business and future revenues.  As a result, Ventro's stock
 traded as high as $243.50 per share during the Class Period.
     The complaint further alleges that on Dec. 6, 2000, Ventro announced a
 restructuring in which it closed down two out of three of its main B2B
 marketplaces.  In early 2001, it was revealed that defendants had realized by
 December 1999 that Ventro's business model of independent marketplaces didn't
 make sense and that even Ventro's partners were not satisfied with Ventro's
 technology for operating the marketplaces.  By this time Ventro's stock had
 declined to less than $2 per share, inflicting billions of dollars of damage
 on plaintiff and the Class.
     If you purchased Ventro securities during the class period, you may
 request that the Court appoint you as lead plaintiff by May 29, 2001.  A lead
 plaintiff is a representative party that acts on behalf of other class members
 in directing the litigation.  In order to be appointed lead plaintiff, the
 Court must determine that the class member's claim is typical of the claims of
 other class members, and that the class member will adequately represent the
 class.  Under certain circumstances, one or more class members may together
 serve as "lead plaintiff." Your ability to share in any recovery is not,
 however, affected by the decision whether or not to serve as a lead plaintiff.
 Wolf Haldenstein has extensive experience in the prosecution of securities
 class actions and derivative litigation in state and federal trial and
 appellate courts across the country.  The firm has approximately 60 attorneys
 in various practice areas; and offices in Chicago, New Jersey, New York City,
 San Diego, and West Palm Beach.  The reputation and expertise of this firm in
 shareholder and other class litigation has been repeatedly recognized by the
 courts, which have appointed it to major positions in complex securities
 multi-district and consolidated litigation.
     If you wish to discuss this action or have any questions, please contact
 Wolf Haldenstein Adler Freeman & Herz LLP at 270 Madison Avenue, New York, New
 York 10016, by telephone at (800) 575-0735 (Gregory M. Nespole, Esq., George
 Peters, Michael Miske, Fred Taylor Isquith, Esq.), via e-mail at
 classmember@whafh.com or visit our website at http://www.whafh.com.
 
 SOURCE  Wolf Haldenstein Adler Freeman & Herz LLP