According to a Press Release dated November 5, 2001, a complaint was filed alleging violations of 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 or about June 4, 1999, High Speed
commenced an initial public offering of 13,000,000 of its shares of common stock at an offering price of $13 per share (the "High Speed IPO"). In connection therewith, High Speed 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) High Speed had solicited and received excessive and undisclosed commissions from certain investors in exchange for which Lehman, J.P. Morgan, CIBC and Banc of America allocated to those investors material portions of the restricted number of High Speed shares issued in connection with the High Speed IPO; and (ii) Lehman, J.P. Morgan, CIBC and Banc of America had entered into agreements with customers whereby Lehman, J.P. Morgan, CIBC and Banc of America agreed to allocate High Speed shares to those customers in the High Speed IPO in exchange for which the customers agreed to purchase additional High Speed shares in the aftermarket at pre-determined prices.