Things are heating up.
businesswire.com
BW1409 SEP 22,1999 9:18 PACIFIC 12:18 EASTERN
( BW)(CA-TRIANGLE-2)(QBID) Triangle MultiMedia to Take Legal Action
Business Editors
PALM SPRINGS, Calif.--(BUSINESS WIRE)--Sept. 22, 1999--Triangle MultiMedia Limited (OTCBB:QBID) announced today that it is beginning legal action against several individuals who are suspected of making false statements on Raging Bull Message Boards about the company and its management.
"We have isolated numerous instances where one or more, or possibly the same individual posing as multiple posters, has stated that Triangle MultiMedia would be stopped from trading by the Securities and Exchange Commission. These statements were posted on several boards and caused individual investors to panic and sell their holdings based upon the false statements of this individual," stated Gary Goldman, corporate counsel for Triangle MultiMedia Limited.
In the legal documents, another individual who management believes is working in concert with others to lower the price of the publicly traded stock stated in his own words that he had "shorted QBID at 3/8 through a Toronto brokerage." From legal documents, the individual then stated that upon covering he would "send a limousine to another poster to take her to work that day."
This self admission coupled with the conduct of this individual to conspire with others to drive down this stock is of legal concern to the company. "Freedom of Speech is one thing, but to abuse investors, management and this company with false statements and outright lies for personal gain is illegal. Individuals need to be held accountable for their manipulative statements and conduct, and that is what this legal action is all about," stated Goldman.
Safe Harbor Statements Under the Private Securities Reform Act of 1995: The statements contained herein that are not historical facts are forward looking statements that are subject to risk and uncertainties that could cause actual results to differ materially from those expressed in the forward looking statement.
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CONTACT: Triangle MultiMedia Limited
Gary Goldman, 888/594-7723
KEYWORD: CALIFORNIA
INDUSTRY KEYWORD: ENTERTAINMENT COMPUTERS/ELECTRONICS COMED
INTERACTIVE/MULTIMEDIA/INTERNET |
