Asensio Wins Against Hemispherx
NEW YORK, June 8 /PRNewswire/ -- The following is being issued by Asensio & Company, a member of the National Association of Securities Dealers, CRD number 31742:
Yesterday, United States District Court Judge John R. Padova entered an Order granting in full Asensio & Company, Inc.'s ("Asensio") Motion to Dismiss. Judge Padova further ordered that all pending motions are dismissed and that Hemispherx Biopharma, Inc.'s (Amex: HEB) case against Asensio is closed.
Hemispherx is a Stratton Oakmont stock fraud controlled by William A. Carter who has been charged with medical and scientific fraud and is being investigated for stock fraud. Since September 30, 1998, Hemispherx has used the legal services of Michael A. Walsh and David C. Franceski to harass Asensio, its employees and clients. The purpose of this harassment was to attempt to discredit and silence Asensio. Asensio was not discouraged and actively followed HEB even while the action was pending. The most recent example is on March 17, 2000 when Asensio reported that Hemispherx had issued misleading HIV treatment reports that had caused HEB's shares to trade as high as $19.
Asensio is an institutional investment bank specializing in corporate valuations and equity research. Asensio also specializes in investigating and short selling stock promotions and publishing research on companies it identifies as grossly overvalued. A complete documented history of Asensio's published work with overly promoted securities, and the firm's definition of gross overvaluation, is available at asensio.com. Asensio was recently the target of six lawsuits by the subjects of Asensio's research reports. After the Asensio reports, these companies' stocks declined by an average of 88% after the Asensio reports. All six lawsuits have now been dismissed. Asensio has never retracted any statement or paid any amount to settle any of these suits.
This report should not be construed as an offer to sell or solicitation of an offer to buy any securities. Opinions expressed are subject to change without notice. This report has been prepared from original sources and data which we believe to be reliable but accuracy is not guaranteed. This research report was prepared by Asensio & Company, Inc. whose stockholders, officers and employees may from time to time acquire, hold or sell a position in the securities mentioned herein. Asensio & Company, Inc. may act as principal for its own account or may sell or buy to or from its customers the securities described herein. Asensio & Company, Inc., may from time to time perform investment banking or other services for, or solicit investment banking or other business from, any company mentioned in this report or its affiliates.
SOURCE Asensio & Company, Inc.
CO: Asensio & Company, Inc.; Hemispherx Biopharma, Inc.
ST: New York, Pennsylvania
IN: FIN MTC
SU: LAW
06/08/2000 09:11 EDT prnewswire.com |
