Firstwave withdraws lawsuit in early earnings release case

<p>Firstwave Technologies Inc. has withdrawn a lawsuit against an unnamed man who posted a copy of the software companys second-quarter earnings report on the Internet a day before it was supposed to be released to the public.</p><p>On July 9, Firstwave put a preliminary second-quarter earnings announcement on its Web site, in a location the company said was not open to the general public. The next day, a link to the announcement was posted on a Yahoo! message board.</p><p>The announcement, which was not released by the company until July 11, said the quarterly results would be affected by the fact some consumers delayed orders for Firstwaves customer relationship software. The news sent Firstwaves stock down 20 percent.</p><p>The suit, filed July 18 in Cobb County Superior Court, listed John Doe as the defendant. It alleged the companys computer privacy was violated and it sought the name of the man who made the posting.</p><p>Atlanta-based Firstwave withdrew the suit earlier this month, but did not say why.</p><p>___</p><p>On the Net:</p><p>HASH(0x2867684)</p>

http://accesswdun.com/article/2003/12/180625