Savett Frutkin Podell & Ryan, P.C. Files Class Action Against Lycos Inc

Business Wire, March 25, 1999

PHILADELPHIA--(BUSINESS WIRE)--March 25, 1999--Savett Frutkin Podell & Ryan, P.C. hereby gives notice that a class action complaint has been filed in the United States District Court for the District of Massachusetts on behalf of a Class of persons who purchased the common stock of Lycos Inc. (NASDAQ:LCOS) ("Lycos" or the "Company") at artificially inflated prices during the period Jan. 8, 1999 through Feb. 9, 1999 (the "Class Period") and who were damaged thereby.

The complaint charges Lycos and its Chief Executive Officer 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 of 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 common stock fell sharply -- 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 Savett Frutkin Podell & Ryan, P.C. Savett Frutkin Podell & Ryan, P.C. has extensive experience representing shareholders in class actions and has successfully recovered hundreds of millions of dollars for defrauded investors and shareholders. The reputation and expertise of the firm in shareholder and other class action litigation has been repeatedly recognized by the courts, which have appointed the firm to major positions in complex class action litigations.

Any member of the proposed Class who desires to be appointed lead plaintiff in this action must file a motion with the Court no later than sixty (60) days from Feb. 22, 1999. Class members must meet certain legal requirements to serve as a lead plaintiff. If you purchased Lycos common stock during the Class Period or have questions or information regarding this action or your rights, you may call or write: