Hi John,
OT***
I found this on another BB. Read down about CPQ. Very interesting. To: +FrozenZ (36205 )
From: +Ron Saturday, May 15 1999 6:56AM ET
Reply # of 36218
Judge finds ex-brokerage chief manipulated Shopping.com stock
THE WALL STREET JOURNAL
LOS ANGELES, May 14 — A federal judge found that a former brokerage-firm president, Cery B. Perle, manipulated the stock of one of his firm's clients, Shopping.com, an Internet retailer.
THE RULING by Judge Dickran Tevrizian came in response to a suit filed by the U.S. Securities and Exchange Commission against Mr. Perle, who was president and part owner of the now-defunct Irvine, Calif., brokerage firm Waldron & Co. The judge issued an injunction against Mr. Perle and imposed $110,000 in penalties.
Mr. Perle Thursday denied any wrongdoing. He said he hadn't had adequate funds to defend himself against the SEC charges and plans to appeal the judge's decision.
Waldron served as underwriter for Shopping.com when the Corona del Mar, Calif., company made its initial public offering in November 1997. In a suit filed in September in Los Angeles federal court against Mr. Perle and Waldron, the SEC contended that the defendants manipulated the price of Shopping.com shares from their initial level of $9 a share to more than $32.
On Thursday, SEC attorney Clifford Hyatt said the investigation is continuing.
Earlier this year, Shopping.com was purchased by Compaq Computer Corp. for $220 million.
msnbc.com
Dorine |
