BIDZ.COM, INC.

Summary of Case: A securities class action has been filed against Bidz.com, Inc. (Ticker: BIDZ) (the "Company") on behalf of all common stock purchasers from August 13, 2007 through November 26, 2007 (Class Period). 

The Complaint alleges that during the class period, defendants issued a series of false and misleading statements intended to project the picture of a financially sound and well-operating Company, when, in fact, the Company was operating with material deficiencies and undisclosed substantial problems that went to the heart of its business model. On November 26, 2007, a Citron Research article identified numerous "red flags" and revealed previously undisclosed material problems with the Company. Two days later Citron issued a second article that provided additional details, revealing, among other things, that the Company engaged improper business tactics in order to artificially raise the auction price of its products. On this news, the Company's stock price dropped from a closing price of $19.94 on Friday, November 23, 2007, to a low of $10.10 on November 28, a loss of nearly 50%.