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InfoSpace, Inc. Message Board

  • kg2931 kg2931 Feb 19, 2004 2:42 PM Flag

    Question on Class Action Payout

    1) According to the Seattle Times article I should be receiving $.19 Avg for all of the 37K INSP shares I bought n sold between 11/6/2000 - 1/17/2001 (minus comm n fees?). So, someday I should be receiving as much as $7030 at the most. Does this sound remotely accurate? Am I missing something?

    2) Anyone have an idea what milestones and timeframe we have to actually get paid after the May 7th court hearing?

    "InfoSpace's insurance carriers will pay the entire settlement, which still needs the approval of a federal judge. A hearing is set for May 7."

    "The $34.3 million will be paid to shareholders who provide proof of buying the stock between Jan. 26, 2000, and Jan. 30, 2001. The estimated average payment will be 19 cents a share before the deduction of fees and expenses.

    One quarter of the settlement plus no more than $500,000 in expenses will go to the law firms that filed the suit. The lead firm was Milberg Weiss' San Diego office.

    The rest will be split, with 40 percent going to Go2Net shareholders and the rest to InfoSpace shareholders. InfoSpace merged with Go2Net in a stock swap in the fall of 2000.

    Different amounts will be paid, based on when the stock was purchased.

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