The Boston law firm Shapiro Haber & Urmy LLP has filed a securities fraud class action against Credit Suisse First Boston ("CSFB"), a subsidiary of Credit Suisse Group (NYSE: CSR), on behalf of persons who purchased Winstar, Inc. ("Winstar") common stock from January 5, 2001 through April 5, 2001, inclusive (the "Class Period") in the United States District Court for the District of Massachusetts.

The complaint alleges that CSFB violated section 10(b) of the Securities Exchange Act, and Rule 10b-5 promulgated thereunder, by issuing analyst reports setting a $79 per share target price that lacked a reasonable basis and rating Winstar a "strong buy" without adequately disclosing the significant risks of investing in Winstar, including that Winstar needed to raise more than $3 billion to fund its business plan and that it might not be able to raise the necessary funds. The complaint further alleges that CSFB touted its "independent research" but failed to disclose that it actually used its analyst reports to obtain lucrative fees for its investment banking business. On April 28, 2003, the Securities and Exchange Commission filed a complaint against CSFB in the United States District Court for the Southern District of New York which alleged, among other things, that CSFB issued analyst reports concerning Winstar in 2001 that lacked a reasonable basis for its stock target price, inadequately disclosed the risk of investing in Winstar, and violated NASD and NYSE regulations.

Plaintiff is represented by the law firm of Shapiro Haber & Urmy LLP, which has successfully prosecuted numerous securities class actions on behalf of defrauded investors. For more information, visit the firm's website at www.shulaw.com.

If you purchased Winstar stock during the Class Period, and you suffered damages, you may wish to join the action.