Schatz Nobel Izard, P.C. Announces Class Action Lawsuit Against Monster Worldwide, Inc.


HARTFORD, Conn., March 16, 2007 (PRIME NEWSWIRE) -- The law firm of Schatz Nobel Izard, P.C., which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the Southern District of New York on behalf of all persons who purchased or otherwise acquired the publicly traded securities of Monster Worldwide, Inc. ("Monster" or the "Company") (Nasdaq:MNST) between May 6, 2005 and June 9, 2006, inclusive, (the "Class Period").

The Complaint alleges that Monster and certain of its officers and directors violated Federal Securities laws by issuing a series of materially false and misleading statements. Specifically, during the Class Period, Defendants granted stock options to themselves and to other Monster officers and directors on dates that Monster stock had reached its lowest, or next-lowest price in weeks or months. These grants almost invariably preceded share gains, and or followed significant drops in the Company's stock price. In public disclosures, however, Defendants falsely claimed that the grants were dated and priced as of the date of the actual grants.

On June 12, 2006, The Wall Street Journal published an article titled "Monster Worldwide Gave Officials Options Ahead of Share Run-Ups." The article stated that Monster may have backdated option grants, and reported that there was a one in nine million chance that the grant dates of the options The Wall Street Journal examined were selected at random. That same day, Monster issued a press release announcing the receipt of a subpoena from the U.S. Attorney for the Southern District of New York, relating to the Company's stock option granting practices. On this news, shares of Monster fell to a close of $38.60, down $3.40 from the prior trading day.

If you are a member of the class, you may, no later than May 14, 2007, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members, including decisions concerning settlement. The securities laws require the Court to consider the class member(s) with the largest financial interest as presumptively the most adequate lead plaintiff(s).

While Schatz Nobel Izard, P.C. has not filed a lawsuit against the defendants, to view a copy of the Complaint initiating the class action or for more information about the case, class action cases in general, and your rights, please contact Schatz Nobel Izard, P.C. toll-free at (800) 797-5499, or by e-mail at firm@snlaw.net, or visit our website: www.snlaw.net.



            

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