WebSecure (WEBS) Message Board

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Technology Stocks : WebSecure (WEBS)

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To: Stephen D. French who wrote (28)	4/22/1997 4:46:00 PM
From: Stephen D. French	of 33

Here's one last news item before I bury this stock in my scam list. I don't think too many people were duped into buying this stock. The possibility that they were connected to CTN was too high. Tuesday April 22 1:30 PM EDT WebSecure Inc named in three lawsuits SAUGUS, Mass., April 22 (Reuter) - WebSecure Inc said Tuesday it had been named in three lawsuits alleging that the filing it made for an initial public offering contained false and misleading statements about the company and its operations. WebSecure also said Carroll Lowenstein, its president and chairman, had been indicted on charges of failure to file state income tax returns. The company, which offers Internet access and support services for secure commercial transactions and communications over the Internet, today reported a fiscal second quarter loss of $0.15 a share. Last week WebSecure terminated Tibor Vais as president and chief executive officer. The company faces at least one other lawsuit. According to plaintiffs' lawyers, the suit alleges misstatement of the technology the company has acquired and misrepresentation of its relationship with Centennial Technologies Inc 1/8CTN.CN 3/8. WebSecure filed for an initial public offering in last September.

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