NEW YORK, June 6, 2003 (PRIMEZONE) -- According to Pomerantz Haudek Block Grossman & Gross LLP (www.pomerantzlaw.com), which has filed a class action lawsuit against Goldman Sachs & Co. (NYSE:GS)("Goldman Sachs") and its Senior Technology Analyst Matthew Janiga ("Janiga") on behalf of investors who purchased the common stock of Exodus Communications, Inc. ("Exodus" or the "Company") during the period from July 1, 1999 through June 30, 2001, inclusive (the "Class Period"), shareholders have until Friday July 18, 2003 to seek appointment by the Court as one of the lead plaintiffs in this action.
The Complaint charges that defendants issued false and misleading analyst reports on Exodus in a bid to win or maintain lucrative banking and advisory work from the Company. As a result of defendants' false and misleading statements, the market price of Exodus common stock was artificially inflated, maintained or stabilized during the Class Period.
On or about April 28, 2003, the United States Securities and Exchange Commission ("SEC") issued a complaint charging Goldman Sachs with violating numerous rules of conduct of the National Association of Securities Dealers, Inc. ("NASD") and the New York Stock Exchange, Inc. ("NYSE"), by issuing false and misleading analyst reports on numerous companies, including Exodus. The complaint describes the influence and control exerted by Goldman Sachs' investment bankers on its supposedly independent research analysts, and details how positive ratings and research reports on Exodus issued by defendants to the public were contrary to defendants' more negative assessments of the Company's true value and prospects.
If you purchased the common stock of Exodus during the Class Period, you have until Friday July 18, 2003 to ask the Court to appoint you as lead plaintiff for the Class. To serve as lead plaintiff, you must meet certain legal requirements. If you wish to review a copy of the Complaint, to discuss this action or have any questions, please contact Andrew G. Tolan, Esq. of the Pomerantz firm at 888-476-6529 (or (888) 4-POMLAW), toll free, or at agtolan@pomlaw.com by e-mail. Those who inquire by e-mail are encouraged to include their mailing address and telephone number.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca