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ABRAHAM KASSIN et al v INSWEB CORP ET AL Click to find out why . . .



Keywords & Phrases
CaseNo: AKEAVICEA187975, CourtName: MISC 2, Plaintiff: ABRAHAM KASSIN et al, State: PA Pennsylvania, UniqueCaseRef: LCD>AKEAVICEA187975, Insweb, Securities, Act, Commissions, Prospectus, Exchange, Underwriter, Offering, York, Registration Statement, Stock, Price, Shares, Dissemination, Public Offering, Executives, Individual Defendants, Material Facts, Misleading, Ipo, Southern District, Securities Corporation, Shareholders, Regulation, Class Period, Materially False, Violations, Aftermarket , ContentID: 120252643

Case Documents
1   CLASS ACTION COMPLAINT
[ see first page and extracted highlights below  ] ItemID: 127695
44 pages
PDF
Total Documents: 1 document , 44 pages
Price: $ 19.95


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1 . CLASS ACTION COMPLAINT

EXTRACTED KEY WORDS
INSWEB
SECURITIES
PLAINTIFF
ACT
COMMISSIONS
PROSPECTUS
EXCHANGE
UNDERWRITER
OFFERING
YORK
REGISTRATION STATEMENT
STOCK
PRICE
SHARES
DISSEMINATION
PUBLIC OFFERING
EXECUTIVES
INDIVIDUAL DEFENDANTS
MATERIAL FACTS
MISLEADING
IPO
SOUTHERN DISTRICT
SECURITIES CORPORATION
SHAREHOLDERS
REGULATION
CLASS PERIOD
MATERIALLY FALSE
VIOLATIONS
AFTERMARKET
MILBERG WEISS BERSHAD HYNES                           InsWeb Corporation
LERACH, LLP
One Pennsylvania Plaza
New York, New York 10119-0165
(212) 594-5300

BERNSTEIN LIEBHARD & LIFSHITZ, LLP
10 East 40th Street
New York, New York 10016
(212) 779-1414

Co-Liaison Counsel for Plaintiff on
behalf of Plaintiffs' Executive Committee
listed on signature pages


                        UNITED STATES DISTRICT COURT
                   SOUTHERN DISTRICT OF NEW YORK
-----------------------------------X
ABRAHAM KASSIN, on behalf                     : 01-CV-10969 (SAS)
of himself and all others                     :
similarly situated,                : 21 MC 92 (SAS)
                                   :
                    Plaintiff,     :
                                   : CLASS ACTION COMPLAINT
            -against-                      : FOR VIOLATIONS OF
                                       : FEDERAL SECURITIES LAW
                                              :
INSWEB CORPORATION, THE GOLDMAN               :
SACHS GROUP, INC., FLEETBOSTON                :
ROBERTSON STEPHENS, INC.,                     : JURY TRIAL DEMANDED
DONALDSON, LUFKIN & JENRETTE                  :
SECURITIES CORPORATION, HUSSEIN A. :
ENAN, DARRELL J. TICEHURST and                :
STEPHEN I. ROBERTSON,                         :
                                   :
                   Defendants.     :
-----------------------------------X


          Plaintiff, by and through by his attorneys, as

and for his Class Action Complaint, alleges upon personal

knowledge as to his own acts and as to all other matters

upon information and belief based upon, inter alia, the


SNIPPETS:
  • One Pennsylvania Plaza New York,
  • Co-Liaison Counsel for Plaintiff on behalf of Plaintiffs' Executive Committee listed on
  • SOUTHERN DISTRICT OF NEW YORK -----------------------------------X
  • "InsWeb" or the "Company") with the Securities and Exchange
  • Commission or disseminated to InsWeb's shareholders
  • Prospectus and Registration Statement dated July 22, 1999,
  • 12 and 15 of the Securities Act of
  • including the preparation and dissemination
  • stock based upon misleading information).
  • Securities Corporation maintain their headquarters in New
  • other wrongs complained of herein, the defendants, directly
  • Plaintiff purchased shares of InsWeb as
  • 1999 (the "IPO" or the
  • involvement in the Offering of InsWeb shares to the public.
  • Goldman Sachs, as a lead underwriter, received substantial
  • Company's initial public offering.
  • Each of the Individual Defendants was provided
  • press releases alleged herein to be materially false and/or
  • been actively traded during the Class Period on the NASDAQ
  • InsWeb and the Offering price to the public
  • excessive and undisclosed commissions from
  • additional InsWeb shares in the aftermarket at predetermined prices that were above the IPO
  • offering, according to the executives.
  • regarding violations of NASD rules connected with the sale
  • Due to the undisclosed material facts
  • including, inter alia, Regulation S-K.
  •    |