Article: Disclosure by LoopNet CEO Validates False Advertising Claims Brought by CoStar Group.

Statement Confirms Misleading Claim of Online Membership is a Cumulative Total from Past Decade, Not Current Audience Size

BETHESDA, Md., March 18 /PRNewswire-FirstCall/ -- In a statement that appears to validate CoStar Group's false advertising lawsuit against LoopNet Inc., LoopNet Chief Executive Officer Richard Boyle admitted at a recent investor conference that it does not have 2.6 million users. Given this admission, LoopNet's broadly marketed claims about its audience size, such as its claim to have 2.6 million users who supposedly are "immediately exposed" to paid listings on LoopNet's web site, are untrue.

At the Jefferies Fourth Annual Internet Conference on ...

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