Ashford/TZ lawsuit information....

Ashford.com, Inc. (NASDAQ: ASFD) A securities class action lawsuit was commenced in the United States District Court for the Southern District of New York on behalf all persons who acquired Ashford.com, Inc. (NASDAQ: ASFD) securities between September 22, 1999 and December 6, 2000 (the "Class Period"). Named as defendants in the complaint are Ashford.com and the following executive officers of Ashford.com: Robert Shaw, Kenneth E. Kurtzman, David F. Gow, James H. Whitcomb, Jr., and Kevin R. Harvey. The complaint also names as defendants the following underwriters of Ashford.com's initial public offering: Goldman, Sachs Co., BankBoston Robertson Stephens, Inc., Deutsche Banc Alex. Brown, and E*Offering Corp. (collectively the "Underwriter Defendants"). The complaint charges defendants with violations of the Securities Act of 1933 and the Securities Exchange Act of 1934 for issuing a Registration Statement and Prospectus (the "Prospectus") that contained materially false and misleading information and failed to disclose material information. The Prospectus was issued in connection with Ashford.com's initial public offering of 6,250,000 shares of common stock at $13.00 per share that was completed on or about September 22, 1999. The complaint alleges that the Prospectus was false and misleading because it failed to disclose (i) the Underwriter Defendants' agreement with certain investors to provide them with significant amounts of restricted Ashford.com shares in the IPO in exchange for exorbitant and undisclosed commissions; and (ii) the agreement between the Underwriter Defendants and certain of its customers whereby the Underwriter Defendants would allocate shares in the IPO to those customers in exchange for the customers' agreement to purchase Ashford.com shares in the after-market at pre-determined prices. The SEC is investigating underwriting practices in connection with several other initial public offerings, including the offerings of VA Linux Systems, Inc., Ariba Inc. and United Parcel Service, Inc. Plaintiff seeks to recover damages on behalf of all those who purchased or otherwise acquired Ashford.com securities during the Class Period. If you purchased or otherwise acquired Ashford.com 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. In order to do so, you must meet certain requirements set forth in the applicable law and file appropriate papers no later than September 10, 2001. Alead 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 plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. If you have any questions about your rights or interests regarding this lawsuit please contact us at mhenzel182@aol.com.

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Ashford and TZ are a bunch of criminals. Axe ® ( Jan 22, 20:08, 2002 ) +1            Sad state of affairs over there. (NT) Larry Rivero ® ( Jan 22, 21:58, 2002 )