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Technology Stocks : TheStreet.com, Inc. (TSCM)
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To: Will Cunningham who wrote (404)7/28/1999 2:05:00 PM
From: Gerald Walls  Read Replies (1) of 1822
 
There is nothing fishy or illegal about selling shares short in my case. ... I shared this information here just for the sake of sharing. I won't do so again.

I'm not a lawyer or a regulator. In that same spirit of sharing I shared my concern that you may unintentionally be running afoul of security regulations. I'm sorry if you chose to interpret my cautioning statements as an attack.

... I am NOT an employee of TSC and the 100 shares I own that are part of the TSC lock-up period only means that I won't be able to buy/sell those shares until the six months are up. Since I am a private investor and not a part of the company, any investment that I wish to make in the open market is my own affair. ...

Is it? Then why are you subject to a lock up requirement at all if all you have to do is sell/short other shares? I agree that if you held shares bought in the market or as an unrestricted IPO allocation then you could sell these with no reporting and no restrictions, but what you said you are going to do sounds "fishy" in that it seems to be too easy to work around the lock-up period. If I were in your position I would make really sure that this course of action was allowed.

BTW, I have no personal stake in this since I long ago sold the IPO shares I received through E*Trade.
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