Business Services Industry
Mamma.Com Denies Allegations in Lawsuits Seeking Class Action Status
Business Wire, Feb 28, 2005
MONTREAL -- Mamma.com Inc. (the "Company"), (NASDAQ:MAMA) today issued the following statement in response to the filing of putative class action lawsuits against the Company and certain of its officers and directors:
"Last week, lawsuits seeking class action status were filed in federal district court in Manhattan.The complaints that were filed contain claims based on unsubstantiated rumors and newspaper reports. The Company believes that the claims are frivolous and without merit, and it intends to defend itself vigorously.The Company's management is unaware of any wrongdoing by the Company, its Board or its officers, and it is confident that the Company, its board and its officers have complied with all applicable securities laws."
About Mamma.com Inc.
Mamma Media Solutions(TM) is focused on providing quality information retrieval on the Internet through its metasearch engine and is a leading provider of integrated marketing solutions to online advertisers. For more information, visit www.mammamediasolutions.com.
Statements contained in this press release, which are not historical facts, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties that can cause actual results to differ materially from estimated results. Such risks and uncertainties are detailed in the Company's filing with the Securities and Exchange Commission and also include but are not limited to whether the Company will appoint a new auditor, whether 2004 financial statements will be issued and filed and if so when, whether prior year audit reports will be withdrawn and whether the investigation being carried out under the Audit Committee's supervision will be completed.
MAMMA.COM INC. (NASDAQ:MAMA)
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