InvestorsHub Logo
icon url

rudy-carter

03/28/05 7:10 AM

#68 RE: rudy-carter #61

received 83 million $$$$$
March 28, 2005 06:15 AMÂ US Eastern Timezone

Settlement Proceeds Received under Settlement Agreement in InfoSpace Derivative Case, Section 16b Case, and Certain Related Cases Brought by the Jains

BELLEVUE, Wash.--(BUSINESS WIRE)--March 28, 2005--InfoSpace, Inc. (Nasdaq:INSP) today announced that final settlement has been obtained and settlement proceeds of approximately $83 million plus accrued interest have been received by the company pursuant to the combined Settlement Agreement described in its release dated December 23, 2004, and reprinted below. The combined Settlement Agreement had previously been granted approval by the King County Superior Court (Washington) and the United States District Court for the Western District of Washington.

About InfoSpace, Inc.

InfoSpace, Inc. (Nasdaq:INSP) is a diversified technology and services company that develops Internet and wireless solutions for a wide range of customers. InfoSpace Search & Directory provides Web search and online directory products that help users find the information they need while creating opportunities for merchants. InfoSpace Mobile provides content and applications that enable mobile operators and content providers to efficiently develop and deliver mobile data services across multiple devices. More information can be found at http://www.infospaceinc.com/.

REPRINT of InfoSpace, Inc. December 23, 2004 Press Release

Settlement Agreement Reached in InfoSpace Derivative Case, Section 16(b) Case, and Certain Related Cases Brought by the Jains

BELLEVUE, Wash.--December 23, 2004--InfoSpace, Inc. (Nasdaq:INSP) today announced that a combined Settlement Agreement has been reached in the Dreiling v. Jain, et al. derivative lawsuit pending in King County Superior Court (Washington), the Dreiling v. Jain, et. al. Section 16(b) case pending on appeal before the United States Court of Appeals for the Ninth Circuit, and certain other lawsuits involving the Company. The Settlement Agreement, if approved, contemplates (among other consideration) a cash payment to the