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EXHIBIT 99.8
Information Architects
704-367-2023
CLASS ACTION LAWSUIT AGAINST INFORMATION ARCHITECTS DISMISSED
CHARLOTTE, N.C. - October 19, 2000 - Information Architects Corp. (Nasdaq -
IARC) today announced that the U.S. District Court for the Western District of
North Carolina has dismissed the class action lawsuit against the company and
certain current and former officers. The lawsuit resulted from the consolidation
of four class action lawsuits filed between May 14, 1999 and July 13, 1999.
"We contended from the beginning of this process that the lawsuit was without
merit," said Bob Gruder, Information Architects Chairman and CEO. "We are
pleased with the Court's ruling, even though the plaintiffs are allowed to
refile an amended complaint."
Information Architects(R) (www.ia.com) offers Internet Infrastructure Content
Delivery Solutions with its patented XML and RDF-based SmartCode(R) technology.
The technology is implemented in Java and is based on the SmartCode Content
Delivery Matrix composed of metadata "nodes" that locate, route and transform
distributed content. This enables rapid creation of complex data aggregation,
transformation, re-branding, and syndication solutions, often without any
coding. SmartCode XML and XPath-based visual tools enable you to collect content
from pre-existing distributed sources and applications, and dynamically
syndicate it onto any channel or device, including cell phones, PDA's, desktops,
etc. Information Architects is a member of the World Wide Web Consortium and is
committed to building state-of-the-art products based on open standards.
FORWARD LOOKING STATEMENTS
The foregoing statements made in this press release that are not historical
facts contain "forward-looking information" within the meaning of the Private
Securities Litigation Reform Act of 1995, and Section 27A of the Securities Act
of 1933 and Section 21E of the Securities Exchange Act of 1934, both as amended,
which can be identified by the use of forward-looking terminology such as "may,"
"will," anticipates," "expects," "projects," "estimates," "believes," or
"continue," the negative thereof, other variations or comparable terminology.
Important factors, including certain risks and uncertainties with respect to
such forward-looking statements that could cause actual results to differ
materially from those reflected in such forward looking statements include, but
are not limited to, our ability to manage growth and acquisitions of technology
and people, the ability to attract and retain technical personnel, variations in
quarterly operating results, significant current and expected additional
competition, the need to continue to develop our products, the need to continue
to expand product distribution and services offerings and other risks detailed
from time to time in our SEC reports. We assume no obligation to update the
information in this release.
