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| 2000
News and Press Releases |
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HEADLINE ARCHIVED:
PSINet filed motions seeking dismissal of 15 class action lawsuits pending
against it
The Washington Post. November 30, 2000
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Excerpt: "The lawsuits, all filed since Nov. 3, were brought by disgruntled
investors who accused the company of violating securities law. The company's
shares have plunged from a high of $60 in March to close at $1.25 yesterday.
PSINet, which reported a $1.38 billion loss in the third quarter, argued that the
lawsuits are baseless and fail to satisfy the requirements necessary to bring
these types of cases to court."
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