Re: 4/13/00 - SATX, Inc. Files Lawsuit in the United States District Court Against Individuals Posting 'Disparaging' Comments About SATX on the Internet Message Board Raging Bull.com.
SATX, Inc. Files Lawsuit in the United States District Court Against Individuals Posting 'Disparaging' Comments About SATX on the Internet Message Board Raging Bull.com.
TAMPA, Fla., April 12 /PRNewswire/ -- SATX, Inc. (OTC Bulletin Board: SATX) announced today that the company has filed a federal lawsuit against "unnamed" individuals posting disparaging comments about the company on the message board Raging Bull.com.
SATX chairman & CEO Merritt Jesson stated, "SATX has suffered more than enough and will now take the appropriate action to defend itself and to prosecute offenders to the extent the law provides." The current charges include violation of Securities & Exchange Acts, libel, and interference with business.
Jesson further stated, "A Subpoena has been served on the Raging Bull to provide the identity of the membership or registration of various individuals using Raging Bull.com message board." Although SATX has already received some of the identities, more Subpoenas will be served to obtain all the necessary information. Jesson stated, "After receiving the appropriate data, SATX will prosecute each case individually for any and all harm to SATX, be it civil or criminal."
"Stock Bashing" for personal gain is rapidly becoming a problem in the small cap area, especially as more and more unprofessional day-traders enter the marketplace. Jesson cited three recent cases of similar action being taken by companies against the Raging Bull. In two of the cases, Traders with Securities Houses were involved in the practice of using erroneously generated information to assist in shorting the stock.
Safe Harbor Statement: Except for historical information contained herein, the statements in this Press Release are Forward-Looking Statements that are made pursuant to the safe harbor provisions of the Private Securities Act of 1995. Forward-Looking statements involve known risk and uncertainties, which may cause the Company's actual results in the future to differ materially from forecasted results.
SATX Inc. has been recently profiled in TheStockAdvisor Newsletter. For an additional report, send email to satx@thestockadvisor.com or visit thestockadvisor.com.
Contact Information:
SATX, Inc.
Merritt Jesson
800-989-7289
siliconinvestor.com |
