SOURCE: EQUITIES Magazine LLC
'J'Accuse...' Barron's and Short Seller Manuel Asensio Have Smeared an Innocent Man
NEW YORK, Sept. 8 /PRNewswire/ -- In EQUITIES combined July/August 1998 issue, Editor Robert J. Flaherty charges Barron's July articles ''Wounded Lion'' and ''L'Affaire Dreyfus,'' like the original French generals who victimized a defenseless Jew, have blamed an innocent man.
He is underwriter Peter Janssen, and he was blamed for the poor performance of two Dreyfus funds. Yet during the period in which Barron's graphed the collapse of the two Dreyfus funds, the three Janssen/Meyers-backed medical stocks rose. The stock performance helped -- not hurt -- Dreyfus Funds' performance, exactly opposite to what Barron's published.
Unreported by Barron's was significant prepublication trading by Avalon Research of Boca Raton, Fla. Also overlooked was that Nasdaq reports that two of the three stocks, Chromatics Color Sciences (Nasdaq: CCSI - news) and the warrant and common stock of Cytoclonal Pharmaceutical (Nasdaq: CYPII - news) were being still currently depressed by short sellers who were failing to deliver borrowed shares on time, according to Nasdaq statistics. ''This is naked short selling,'' Flaherty said. The third stock, MacroChem (Nasdaq: MCHM - news), is also under attack by short sellers
According to Flaherty, Barron's relied heavily on fraud and other charges broadcast over the Internet by short-seller Manuel Asensio of Asensio & Co. He has charged about 21 companies with fraud. Barron's failed to report that Asensio himself has been accused of fraud in a still-ongoing law suit for his own activities on the day the stock market fell over 22.6% in the October 1987 crash.
Editor Flaherty labeled EQUITIES' investigation ''one of the most important stories of my 37-years in financial journalism'' because the entire career of one individual could be damaged by this smear. ''Janssen had made a brilliant start in applying the principles of positive thinking to business when the short sellers struck and blackened his image,'' Flaherty said.
Also in this issue EQUITIES spotlights America's fastest growing companies with five-year annual average earnings growth of 20% or better, a benchmark EQUITIES used to select managements with a superior long-term performance.
EQUITIES is an award-winning, 47-year-old monthly magazine that covers promising, quality middle-market and emerging public companies and their environment. A twelve-month subscription is $36.
SOURCE: EQUITIES Magazine LLC |
