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Advisor
30-07-2001, 20:14/08:14PM
Poor LookSmart:

http://biz.yahoo.com/prnews/010730/dam046.html

Why does this make me smile so? :D

Jill
ihelpyou
30-07-2001, 20:20/08:20PM
hehe,.... All the lawsuits these days. I wish that article would speak plain English so as to understand it a little. :eek:
Advisor
30-07-2001, 20:26/08:26PM
Yeah no kidding...lawyers these days...hehehe

I read enough to know that it didn't sound good for LookSmart. Which is why I was so sad...gee...guess I picked the wrong smiley...hmm...wonder how that happened!

Jill
ihelpyou
30-07-2001, 20:44/08:44PM
Yep. They better watch their p's and q's... If proved, could not be good.

Though this kind of thing would take along time...
markymark
02-08-2001, 20:09/08:09PM
Have I misunderstood that link ? I've just had to change this post about three times in order not to make you or myself liable. However, it seems to me that as LS are not the defendants in this case and, if proven, their current owners will be considerably better off, LookSmart has nothing to worry about unless, as a consequence, the current owners feel they were misled by the IPO as to the value of the company. Judging by that Yahoo link, this is not my opinion of the case.
Advisor
02-08-2001, 20:18/08:18PM
Welcome, MarkyMark!

Sounds like you must understand that legal mumbo jumbo better than the rest of us! Think I'll stick with SEO!

Jill
ihelpyou
02-08-2001, 20:18/08:18PM
Welcome to the forums markymark! :hi:

I did/could not read that article as I hate all the lawyer jargon. So, I have no idea what the thing is trying to say. Did not try very hard to read it. :rolleyes:

Anyone else?
JuniorHarris
03-08-2001, 03:26/03:26AM
:hi:
Mel
05-08-2001, 02:17/02:17AM
HI MarkyMark

While I agree with you that Looksmart are not the defendants in the abovementioned case (see I can use that legal mumbo jumbo, too) they were acting for Looksmart in the matter of the IPO and the second charge is that they more or less fixed a market price for LS shares, by arranging for a predetermined number of shares to be purchased at a fixed price after the IPO.

Without more info, its hard to be definitive, but it would appear that the heart of the complaint is that the defendants in effect rigged the price of the LS shares aftermarket, which if proven is not likely to make the shares go anywhere but down.
markymark
05-08-2001, 16:19/04:19PM
Mel,

re-reading that link. I agree that you are right on the second charge levelled. However, my feeling is that LS shares will not be unduly affected as their current value is not reliant on these alleged dodgy practices, though a short term blip would be inevitable. The whole market value of LS seems to be tied in with their partnerships - MSN, Excite, etc. These are the keys to LS's continued success....you can draw your own conclusions from that .