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PIPE Registration in November 2006 and its aborted spinoff Registration of EduTrades.

Plaintiff says that during the Class Period, Kane liquidated over $414,000 worth of his

personally-held Whitney common stock. See CAC at ¶ 8.

Defendant Nicholas S. Maturo (“Maturo”) was, during the Class Period,

President and Chief Operating Officer of the Company until his termination on or about

December 19, 2006. Plaintiff says that Maturo made and/or was responsible for

materially false and misleading statements and omissions in Whitney’s SEC filings,

press releases, conference calls with analysts, and on the Company’s website. Maturo

also signed the Company’s SEC filings, including but not limited to Whitney’s Form(s)

10-Q and Form 10-K and the Registration Statements filed with the SEC in connection

with the Company’s PIPE Registration in November 2006 and its aborted spin-off

Registration of EduTrades. See CAC at ¶ 9.

Defendant Rance Masheck (“Masheck”) was, during the Class Period, Vice

President of Sales and Marketing of EduTrades and served in that position at all

relevant times until his termination on or about December 19, 2006. Plaintiff says that

Masheck made and/or was responsible for materially false and misleading statements

and omissions in Whitney SEC filings, press releases, conference calls with analysts,

and on the Company’s website, including but not limited to Whitney’s Forms

10-Q and Form 10-K and the Registration Statement filed with the SEC in connection

with the now-aborted spin-off Registration of EduTrades. See CAC at ¶ 10.

Plaintiff alleges that all of the individual defendants, because of their positions

with the Company, had access to the adverse undisclosed information about its

business, operations, products, financial statements, markets, and business prospects

7

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