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Search marketing in the new media era.

August 25, 2003
 
InfoSpace's Founder, His Wife Are Ordered to Pay $247 Million
InfoSpace Inc. founder Naveen Jain and his wife were ordered by a judge to repay $247 million to the Internet company for violating insider-trading laws, in what lawyers say is one of the largest awards ever stemming from insider-trading allegations.

Mr. Jain said he didn't have an opportunity to present his side to the judge at a hearing or a trial. "The plaintiffs found a sympathetic judge who misapplied the law," he said. "Sometimes the legal system turns our dreams into a nightmare. But I believe the error will be corrected at the appellate level."

InfoSpace owns Dogpile.com, Excite.com and MetaCrawler.com.
WSJ.com - InfoSpace's Founder, His Wife Are Ordered to Pay $247 Million

Andy Beal | permalink | +marktd |



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