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Technology Stocks : CDWC
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To: Sir Auric Goldfinger who wrote (164)6/17/2000 11:11:00 AM
From: FrozenZ  Read Replies (2) of 189
 
Auric, do you have a suggestion?
I am long a stock whose float was listed in Feb. on all the websites such as yahoo, msn and zacks as 3.7 million. I have now found out that the float is (and was)actually around 24 million.
1) In the future how can I get reliable information about the actual float. In this case the company was obviously putting out false information. When I talked to IR they seemed confused about what the float is ie. thinking shares an institution owns must not be part of the float.
2) I guess there is no recourse at this time, or does someone think I should contact the sec.
3) Also this same company listed a predominant bank as being the largest institutional owner with millions of shares. Later I found out that bank owned zero shares but that insiders had bought their shares through that banks brokerage. Seems like fraud to me, does anyone else think so?
ps. this is a Nasdaq stock with a market cap of 500 MM.

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