ECCCE Electric City Corp. Message Board

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Microcap & Penny Stocks : ECCCE Electric City Corp.

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To: afrayem onigwecher who wrote (1)	11/7/1999 11:20:00 PM
From: StockDung	of 3

On August 3, 1998, Mercacorp, Inc. commenced an action in the U.S.District Court for the Eastern District of New York against the Company, Michael R. Farris (the President and Chief Executive Officer of the Company), Wall & Broad Equities, Inc., a "purported investment banking establishment" and Isaac Weinhouse, the principal of such purported investment banking establishment. This action asserts violations of Section 10(b) of the Exchange Act and common law fraud in connection with the alleged issuance of false press releases, misrepresentations and omissions by all of the defendants on which the plaintiff allegedly relied in purchasing the Company's Common Stock and later holding (rather than selling) such Common Stock. The plaintiff asks that they be awarded $5 million in actual damages and $50 million in punitive damages. The Company believes that the allegations made by the plaintiff against the Company and Mr. Farris are without merit, and it intends to vigorously defend the action. tenkwizard.com

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