Paskowitz & Associates Announces Class Action Lawsuit Brought on Behalf of Purchasers

NEW YORK--(BUSINESS WIRE)--May 9, 2005--Paskowitz & Associates has filed a class action lawsuit in the United States District Court for the Middle District of Florida on behalf of all purchasers who purchased ("the Company")(NASDAQ:FWHT--News) securities during the period January 5, 2004 to May 4, 2005 (the "Class Period"'). Also included are all those who acquired's shares through its acquisitions of Miva, Comet Systems or Espotting Media.

For further information you may call toll free, 800-705-9529, or contact counsel by e-mail by writing to

The Complaint alleges that and certain of its officers and directors violated federal securities laws. Specifically, with the completion of the first in a series of acquisitions by, the Company began to accrue intangible assets in excess of their actual value. disagreed with its auditor, Ernst & Young LLP, about the need to recognize an impairment of its goodwill in connection with's 2004 financial statements. As a result of the dispute, on May 2, 2005, Ernst & Young LLP resigned and informed of the following material weaknesses in its system of internal control over financial reporting: (i) purchase accounting, (ii) goodwill impairment, (iii) revenue recognition for private label agreements and other revenue agreements, excluding those related to Network revenue, (iv) personnel resources and technical accounting expertise, (v) quarterly and year-end financial statement close and review process, and (vi) segregation of duties. On May 4, 2005, announced the resignation of its CFO, Defendant Brenda Aguis. While Defendants had inflated's stock, insiders sold 680,959 shares for proceeds of $11,320.179. On May 3, stock plummeted $2.04 per share, or 26% and an additional $2.33, or 38% on May 5, 2005.

If you purchased securities during the Class Period, you may qualify to serve as Lead Plaintiff on behalf of the Class. Motions for appointment to the Lead plaintiff position must be filed no later than July 5, 2005. You are not required to have sold your securities in order to claim damages, or to serve in this role.


Paskowitz & Associates, New York
Laurence Paskowitz, Esq., 800-705-9529

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