Globalstar Telecommunications Limited GSAT Message Board

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Microcap & Penny Stocks : Globalstar Telecommunications Limited GSAT

GSAT 65.40

+2.1%

11:01 AM EST

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To: Maurice Winn who wrote (12613)	5/12/2000 1:37:00 AM
From: JGoren	Read Replies (1) of 29987

Mqurice, you can always sue the Corporations Commissioner employee for libel. But, then, why subject yourself to California jurisdiction. You could probably sue in New Zealand if the WSJ is published there. State securities commissioners know little about real markets. Moreover, it appears that the commissioner does not understand the legal requisites of manipulation as contemplated under the federal securities laws. They are fine at combatting local Ponzi schemes, however. I belive it was totally inappropriate for the securities commissioner to express an opinion on something the facts he does not know. Since the opinion was not made in a judicial proceeding it was not subject to absolute immunity. The WSJ seems to have completely misunderstood what is going on. It's been 20 years since I was with the SEC, but I fail to see how suggesting that those who believe in the company long-term should not sell their shares and should not allow their shares to be involuntarily borrowed to hurt them, would, in any way, be a scheme, device or artifice to defraud in violation of the Securities Act of 1934. Suggesting investors take action to protect themselves is not a manipulation. Greed has no bounds; either on the way up or down. The risk to the shorts at this level is increasing daily. The money was made from 35 down to 9.

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