Milberg Weiss Announces Expanded Class Action Against Lycos Inc

Business Wire, March 10, 1999

NEW YORK--(BUSINESS WIRE)--March 10, 1999--The following is an announcement by the law firm of Milberg Weiss Bershad Hynes & Lerach:

Notice is hereby given that a class action lawsuit was filed in the United States District Court for the District of Massachusetts on behalf of all persons who purchased the common stock of Lycos Inc. (NASDAQ: LCOS) ("Lycos" or the "Company"), between January 8, 1999 and February 9, 1999, inclusive.

If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact, at Milberg Weiss Bershad Hynes & Lerach ("Milberg Weiss"), Steven G. Schulman or Samuel H. Rudman, One Pennsylvania Plaza, 49th Floor, New York, New York 10119-0165, by telephone 1-800-320-5081 or via e-mail: endfraud@mwbhlny.com or visit our website at www.milberg.com.

The complaint charges Lycos and certain officers with violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 as well as Rule 10b-5 promulgated thereunder. The complaint alleges that defendants issued a series false statements which represented that Lycos was "committed to an independent strategy" when, in fact, Lycos was in serious and advanced discussions to merge with USA Networks, Inc. ("USA"), with Lycos shareholders constituting no more than 30 percent of the equity holders in the newly-formed entity. When Lycos announced that it had agreed to a transaction with USA, the price of Lycos plummeted -- dropping from $127.25 per share to $94.25 per share, a decline of 25% on extremely heavy trading volume.

Plaintiff seeks to recover damages on behalf of class members and is represented by the law firm of Milberg Weiss, among others. Milberg Weiss maintains offices in New York City, San Diego, Los Angeles, San Francisco and Boca Raton and is active in major litigations pending in federal and state courts throughout the United States. Milberg Weiss has taken a leading role in numerous important actions on behalf of defrauded investors, and is responsible for a number of outstanding recoveries which, in the aggregate, total approximately $2 billion. For more information about Milberg Weiss, please visit our website at www.milberg.com. If you are a member of the class described above, you may, not later than sixty days from February 22, 1999 move the Court to serve as lead plaintiff of the class, if you so choose. In order to serve as lead plaintiff, however, you must meet certain legal requirements.