SOURCE: Palisades Holdings Inc.

May 19, 2005 08:00 ET

Intermix Shareholder and Plaintiff in Derivative Action Launches Blog -- www.Intermixedup.com to Better Inform Shareholders

LOS ANGELES, CA -- (MARKET WIRE) -- May 19, 2005 -- An Intermix Shareholder and plaintiff in a Derivative Action filed on February 10th, 2005, in Los Angeles Superior Court, on behalf of Intermix shareholders, announced today that blog -- www.Intermixedup.com has been launched with the intent of better informing Intermix shareholders and garnering additional disclosure from the Intermix Board of Directors. The website contains exhibits/information on several topics of inquiry.

According to shareholder Brad Greenspan, "I believe it's important for shareholders to have the most up-to-date information on Intermix. I am particularly interested in learning more from Intermix on 1) certain metrics related to usage on Grab.com disclosed by Intermix thru a string of press releases and 2) the background of recent March stock sales by Chairman David Carlick's employer, VantagePoint Ventures."

The website can be viewed at www.intermixedup.com

The Derivative Action was filed on February 10th, 2005, by Brad Greenspan on behalf of Intermix shareholders against Defendants:

Alan Salzman, Richard Harrock, David Carlick, Andrew Sheehan, Brett C. Brewer, Lawrence R. Moreau, Jeffrey Edell, Daniel Mosher, Bradley Ward, Christopher Lipp, Thomas J. Flahie, Richard Rosenblatt, Adam Goldenberg, VP Alpha Holdings IV, L.L.C., a Delaware Limited Liability company, VantagePoint Venture Partners IV (Q), L.P., a Delaware Limited Partnership, VantagePoint Venture Partners IV Principals Fund L.P., a Delaware Limited Partnership , and VantagePoint Venture Associates IV, L.L.C., and Does 1 through 10,

And is a Complaint for:

1) Breach of Fiduciary Duty;
2) Indemnification;
3) Action to Remove Directors and Officers (Cal. Corp. Code 304);
4) Statutory Unfair Competition (Cal. Bus. & Prof. Code 17200);
5) Fraud
6) Aiding and Abetting Fraud; And
7) Fraud
[Cal. Corp Code 800, et seq.]

Contact Information

  • Contact:

    Thad Davis
    Quinn Emanuel Urquhart Oliver & Hedges LLP
    213-443-3261