Wolf Haldenstein Continues Securities Fraud Class Action Suit Targeting IPO Underwriters Related To The Marimba, Inc. Initial Public Offering

Business Wire, June 1, 2001

Business Editors and Legal Writers

NEW YORK--(BUSINESS WIRE)

June 1, 2001Wolf Haldenstein Adler Freeman & Herz LLP commenced a class action lawsuit in the United States District Court for the Southern District of New York on behalf of all purchasers of Marimba, Inc. ("Marimba" or the "Company") (NASDAQ: MRBA--news) securities pursuant or traceable to a false and misleading prospectus (the "Prospectus") between April 30, 1999 and March 27, 2000, inclusive (the "Class Period"), against Marimba, Kim K. Polese (President, Chief Executive Officer and a director of Marimba), Fred M. Gerson (Vice President and Chief Financial Officer), Arthur A. Van Hoff (Chief Technology Officer and a director of Marimba), Morgan Stanley & Co. Inc. ("Morgan Stanley") (co-lead underwriter of the Company's IPO), Credit Suisse First Boston Corporation ("CSFB") (co-lead underwriter of the Company's IPO), and Bear Stearns & Co., Inc. ("Bear Stearns") (a member of the Offering underwriter group). The case is numbered 01-CV-4289. If you would like to view a copy of the complaint filed in this action, please visit the Wolf Haldenstein web site located at www.whafh.com.

The complaint alleges that defendants violated Sections 11, 12(a)(2) and 15 of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. On April 30, 1999, Marimba commenced an initial public offering of 4 million of its shares of common stock at an offering price of $20 per share (the "Marimba IPO"). In connection therewith, Marimba filed a registration statement, which incorporated a prospectus (the "Prospectus"), with the SEC. The complaint further alleges that the Prospectus was materially false and misleading because it failed to disclose, among other things, that: (i) Morgan Stanley, CSFB and Bear Stearns had solicited and received excessive and undisclosed commissions from certain investors in exchange for which Morgan Stanley, CSFB, and Bear Stearns allocated to those investors material portions of the restricted number of Marimba shares issued in connection with the Marimba IPO; and (ii) Morgan Stanley, CSFB and Bear Stearns had entered into agreements with customers whereby Morgan Stanley, CSFB and Bear Stearns agreed to allocate Marimba shares to those customers in the Marimba IPO in exchange for which the customers agreed to purchase additional Marimba shares in the aftermarket at pre-determined prices.

Plaintiff seeks to recover damages on behalf of all those who purchased or otherwise acquired Marimba securities during the Class Period. If you purchased or otherwise acquired Marimba securities during the Class Period, and either lost money on the transaction or still hold the securities, you may wish to join in the action to serve as lead plaintiff. If you purchased Marimba securities during the Class Period, you may, no later than June 25, 2001, request that the Court appoint you as lead plaintiff. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiffs." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Wolf Haldenstein, or other counsel of your choice, to serve as your counsel in this action.

Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has approximately 60 attorneys in various practice areas; and offices in Chicago, New Jersey, New York City, San Diego, and West Palm Beach. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions, please contact Wolf Haldenstein Adler Freeman & Herz LLP at 270 Madison Avenue, New York, New York 10016, by telephone at (800) 575-0735 (Michael Miske, George Peters, Gregory M. Nespole, Esq., or Fred Taylor Isquith, Esq.), via e-mail at classmember@whafh.com or visit our website at www.whafh.com. All e-mail correspondence should make reference to Marimba.